1. Now offers visibility and you may assurance

A traditional financing try a safe, transparent financing one to pursue the principles applied of the Freddie Mac computer and Federal national mortgage association. Typically along side long haul, a borrower could save extra money for the a traditional loan over an FHA mortgage.

Antique repaired price financing are the standard inside financing and were for the past thirty years. They are a great equipment for everyone who would like to save money, nevertheless discover they are getting a fair offer.

Because the implementation of the brand new Dodd-Honest operate, such things as bad amortization, balloon repayments and you may prepayment punishment have become unlawful to your fannie and you may freddie financing. Its safe to state into the a normal financing you should understand you are not getting pulled to have a drive. Continue reading →