Va financing
2. Conventional loan. This is a type of mortgage loan that is not insured or guaranteed by the government, and is offered by banks, credit unions, and other private lenders. Conventional loans usually have all the way down rates of interest and fees than other types of loans, and can be used to buy REO properties that are in good condition and meet the lender’s standards. debt-to-income ratio, and down payment. You may also have to pay for individual financial insurance policies (PMI) if your down payment is less than 20% of the purchase price. Additionally, conventional loans may take longer to process and close than other options, as the lender will need to verify the property’s title, appraisal, and inspection.
