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Before you go to get a house, your mortgage company will offer you you a number of different home mortgage options, from traditional loans to loans that are government-insured

Before you go to get a house, your mortgage company will offer you you a number of different home mortgage options, from traditional loans to loans that are government-insured

Your loan choices are unique to your financial predicament, and can be determined by many different facets, as well as your credit rating, debt-to-income ratio, funds for an advance payment, and cost savings. Traditional loans usually have stricter instructions and greater deposit needs than government-insured loans, making government-insured loans an option that is popular numerous borrowers. a government-insured loan is just what it feels like — a loan supported by the federal government, whom guarantees payment to your bank if you default in your mortgage repayment.