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 House Loan
Secure Your Future with an ENG Lending House Loan
Whether you're just starting out in a new home, or your looking to buy a second home or investment property with an unbeatable interest rates and easy-to-understand terms. With ENG Lending, you can secure a loan to buy a house and feel confident that you're in safe and reliable hands both online and off.
What Types of House Loans Are Available?
 Conventional House Loans - Ideal for Borrowers with Excellent Credit and a Substantial Down Payment
A Conventional House Loan is more credit score driven than other loan types and at least a 620 FICO score is required to obtain an approval through ENG Lending's conventional house loans. Conventional House Loan guidelines are currently written in a way that a borrower with a 740+ credit score can usually obtain the best interest rate possible. As a borrowers credit score decreases below a 740, sizable fees and rate increases could be added, in excess of the 1-2 percent range. If your credit score is less than perfect, an FHA Loan, USDA Loan or VA Loan could be a better fit for you.
FHA House Loans - Ideal for Borrowers who have Less Than Perfect Credit and a Small Down Payment
FHA house loan requirements are not totally credit score driven, although a 620 FICO score is required to obtain an approval through ENG Lending. FHA house loan guidelines are written in a way that provides the borrower the benefit of the doubt that there had been, at some point in their past, circumstances beyond their control, and as long as the borrower has recovered from those circumstances in a reasonable manner, they're generally going to be credit-eligible for an FHA house loan.
USDA House Loans - Ideal for Borrowers who have Less Than Perfect Credit and a No Down Payment
USDA House Loans have no down payment requirement. Other home purchase loans don't allow this. Another distinct advantage of a USDA House Loan, as compared to a conforming loan, is great interest rates and no mortgage insurance (MI). A 620 FICO score is required to obtain a USDA House Loan approval though ENG Lending.
VA House Loans - Ideal for Borrowers who are Veterans of the US Armed Services
ENG Lending offers affordable, easy-to-understand VA House Loans in recognition of the contributions and sacrifices veterans have made for America. Whether you're buying your first home or thinking of building your one-of-a-kind dream house, ENG Lending is your ultimate Veteran's Affairs loans information center. VA Loans require no down payment and no mortgage insurance. A 620 FICO score is required to obtain a VA house loan approval though ENG Lending.
What Type of Mortgage is Right for Me?
ENG Lending knows the world of house loans can seem complex. That's why our mission with each client is simple: provide the best loan to buy a house, with the lowest possible rate, while executing the highest standards of customer service. For over 110 years ENG has been providing down home service and powerful nationwide mortgage loans, while offering clients peace of mind knowing they are working with a credible and insured mortgage banker.
See more on Conventional Loans, FHA Loans, VA Loans and USDA Loans.
Are There any Programs Out There for First Time Home Buyers?
First time home buyers sometimes feel they are facing a daunting, difficult task. Actually, both mortgage lenders and the U.S. government are willing to give you all the help you need to make your dream of home ownership a reality. Use the Internet, visiting helpful websites like Loans-101.com, to find house mortgage loan programs that fit your budget, lifestyle, and future plans.
If you have not owned a home in the last three years and you purchase a home before November 1st, 2009, you will be eligible for the $8,000 IRS tax credit which is fully refundable. First-time buyers can claim a credit worth $8,000 - or 10% of the home's value, whichever is less - on their 2008 or 2009 taxes.
How do I choose the right House Loan?
Choosing the right home mortgage loan is a very personalized process. There is no one special method that works for everyone. That's why ENG Lending has new home mortgage loan experts standing by to help you every step of the way. We will work closely with you and our house loan calculator to learn about your current financial situation and your future goals. Then we'll help you make an informed decision to select the perfect house mortgage loan for your needs.
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Use our Loan Helper to help find the right mortgage for your situation.
 What Types of House Loans are Available?
Conventional House Loan Mortgage
Conventional home mortgage loan requirements are more credit score driven than other loan types and a 620 FICO score is required to obtain an approval through ENG Lending. Conventional Loan guidelines are currently written in a way that a borrower with a 740+ credit score can usually obtain the best interest rate possible. As a borrowers credit score decreases below a 740, sizable fees and rate increases could be added, in excess of the 1-2 percent range. If your credit score is less than perfect, an FHA Loan, USDA Loan or VA Loan could be a better fit for you.
FHA House Loan Mortgage
FHA house mortgage loan requirements are not totally credit score driven, although a 620 FICO score is required to obtain an approval through ENG Lending. FHA mortgage guidelines are written in a way that provides the borrower the benefit of the doubt that there had been, at some point in their past, circumstances beyond their control, and as long as the borrower has recovered from those circumstances in a reasonable manner, they're generally going to be credit-eligible for an FHA mortgage.
USDA House Loan Mortgage
USDA home mortgage loans have no down payment requirement. Other loan programs don't allow this. Another distinct advantage of a USDA mortgage, as compared to a conforming loan, is great interest rates and no mortgage insurance (MI). A 620 FICO score is required to obtain a USDA home mortgage loan approval though ENG Lending.
VA House Loan Mortgage
ENG Lending offers affordable, easy-to-understand VA House Mortgage Loans in recognition of the contributions and sacrifices veterans have made for America. Whether you're buying your first home or thinking of building your one-of-a-kind dream house, ENG Lending is your ultimate Veteran's Affairs loans information center. VA Loans require no down payment and no mortgage insurance. A 620 FICO score is required to obtain a VA home mortgage loan loan approval though ENG Lending.
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