j*****e
发帖数: 564 | 1 买了一个 foreclosure property, 下周二close. 刚才我的realtor告诉
我Freddie Mac让我们马上 签一个
amendment：
“Buyer's loan type has been amended to: CONVENTIONAL UNINSURED"
My agent and I have no clue what this means. Can you help if you know?
非常感谢！！！！！ | j*****e
发帖数: 564 | 2 This is what I googled:
Conventional Loan
Conventional loans are popular because the broad public does not qualify for
other loan structures. A conventional loan has no backing from the
government in the way an FHA, HUD or VA loan does. Lenders are not limited
to interest rate caps and can charge anything the market will warrant, which
means the loans are generally higher than government-backed loans.
Conventional loans can be either insured or uninsured contingent on their
loan-to-value ratio.
Uninsured
An uninsured loan is a loan sufficiently backed by a large down payment or
equity in the property. Generally, to qualify for an uninsured loan, at
least a 20 percent equity position in the property must exist. This can be
accomplished by a down payment for new purchases or equity for refinancing.
An uninsured loan will be less expensive for two reasons: less money
financed over time and a lower interest rate.
首付是20％， 所以不要交PMI， 所以就是Uninsured loan, 对吗？ |
|
