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logo
  • Home
  • Home Purchase
  • Refinance
  • Apply Now
  • Today's Rates
  • Resources
  • Loan Programs
  • Loan Process
  • Mortgage Basics
  • Mortgage Calculators
  • Online Forms
  • FAQ
  • About
  • Contact
  • Blog
  • Document Uploader
  • Home
  • Rate Us
  • 985-235-7577

FHA Loans vs. Conventional Home Loans

The main difference between a FHA Loan and a Conventional Home Loan is that a FHA loan requires a lower down payment, and the credit qualifying criteria for a borrower is not as strict. This allows those without a credit history, or with minor credit problems to buy a home. FHA requires a reasonable explanation of any derogatory items, but will use common sense credit underwriting. Some borrowers, with extenuating circumstances surrounding bankruptcy discharged 3-years ago, can work around past credit problems. However, conventional financing relies heavily upon credit scoring, a rating given by a credit bureau such as Experian, Trans-Union or Equifax. If your score is below the minimum standard, you may not qualify.

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About Us

We've been helping customers afford the home of their dreams for many years and we love what we do.

Company NMLS: 1082922
www.nmlsconsumeraccess.org

Contact Us

1901 Possum Hollow Rd
Slidell, Louisiana 70458
Phone: 985-235-7577
patrick.burke@sunbeltlg.com

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