About These Mortgage Options



Conventional mortgages are typically the most common home loan. At NCCYou, our conventional loans are more flexible than what you would find from our competitors. Conventional loans have fewer hurdles than other types of loans, and have a faster turn-around. If you think you aren't ready to buy because you don't have a down payment, it is still a good idea to talk with a mortgage expert - we're not just here to give you a loan, we're here to help you plan for the future.


The Federal Housing Administration insures mortgages for qualified borrowers, so we call these FHA loans. This can be a good option if your credit has taken a hit or if a borrower plans to spend a large portion of monthly income on house payments, as the FHA allows higher debt-to-income ratios than conventional loans. A Mortgage Specialist can help you with the ins and outs of FHA loans to figure out if this is the right loan for you.


Veterans Affairs mortgages may apply to most active-duty and military veterans with possible eligibility for spouses and other branches of service. Borrowers can qualify for 100% financing but there are limits to the purchase, which may vary by county. Restrictions in VA loans may be complex, but that is why we are here to help you learn about qualifications and find affordable assistance for our veterans.


The U.S. Department of Agriculture is another entity that backs mortgages to make rural living an affordable option. Like FHA and VA, there are some restrictions and qualifications, but these loans can often have more appealing interest rates. Also, these loans aren't only for homes on rural farmland. There are many areas and houses that qualify for USDA loans.

Cara-Ellis, Mortgage Specialis
Cara Ellis
Mortgage Specialist
(218) 279-3237
NMLS# 1447399

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