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| Conventional |
| FHA |
| USDA |
| VA |
| Reverse Mortgage |
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Conventional
A mortgage loan not insured by the FHA or guarenteed by the VA.
Term: 30 years
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FHA
A division of HUD, insuring residential mortgage loans.
Term: 30 years
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USDA
Rural Housing, 100% financing with no mortgage insurance
Term: 30 years
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VA
Government backed loan aiding Vetrans.
Term: 30 years
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Reverse Mortgage
A mortgage in which the lender makes periodic payments to the borrower.
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Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $484,350 for the contiguous states, District of Columbia, and Puerto Rico or below $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $8,340. Jumbo Loans (whose maximum loan amount exceed $484,350 for the contiguous states, District of Columbia, and Puerto Rico or exceed $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.
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