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Get a better understanding of home buying terms with this handy glossary.
Buying a house can be confusing, especially with some of the terms used. This glossary can help you understand the home buying process easier.
Federal Housing Administration; agency that is a part of the U.S. Department of Housing and Urban development providing insurance on FHA mortgage loans.
This is a loan that does not meet the general guidelines of government sponsored enterprises (such as Fannie Mae and Freddie Mac) and is therefore usually kept by the lending institution and not sold. These types of loans are used when the borrowers are
self-employed, have unique income circumstance, or want to borrow outside the maximum loan amount. Examples of non-conforming loans are jumbo loans and bank statement loans.
Steps To Buying A House
Mortgage Terms Glossary
First-Time Home Buyer
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Answer a few simple questions and choose your preferred contact method to get personalized recommendations — just for you, right from our experts.
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Before you make any financial decision, you should get as educated as you can first. That’s why we created this resource center, complete with videos, eBooks, blogs, and much more. School is in session!