Loan Type Options
With residential mortgages there are several different types of loans available to you, including: Conventional, FHA, VA and USDA - RHS loans. A loan specialist at 1st Mariner Mortgage can help you determine the loan that is right for you.
Comparison Chart: Types of 1st Mariner Bank Personal Loans
Take a look at the following chart to see how the four basic loan types differ from one another.
|
|
Down Payment |
Appraisal Occupancy Type |
Qualifying |
Loan Purpose |
|
Conventional
|
Higher
|
Primary Residence
Investment
Second Residence
|
Stricter
|
Purchase & Refi
|
|
FHA
|
Lower
|
Primary Residence ONLY
|
More Lenient
|
Purchase & Refi
|
|
VA
|
No Down Payment Required
|
Primary Residence ONLY
|
More Lenient
|
Purchase & Refi
|
|
USDA - RHS
|
No Down Payment Required
|
Primary Residence ONLY
|
More Lenient
Ratios
|
Purchase ONLY
|
Request a Free Consultation or Apply Today
Find out how 1st Mariner Mortgage can help you with your residential mortgage. If you are interested in a VA loan, contact our VA loan specialists to learn more today. Our representatives are ready to assist you.