Millennium Mortgage Services

read moreConventional loans are mortgage loans offered by non-government sponsored lenders. A conventional, or conforming, mortgage adheres to the guidelines set by Fannie Mae and Freddie Mac. It may have either a fixed or adjustable rate. While many think that a 20% down payment is required for all conventional loans, many lenders now offer low down payment options. FHA loans are an attractive option, especially for first-time homeowners because it is insured by the Federal Housing Administration (FHA).

read moreA historical summary provided by a title insurance company of all records affecting the title to a property. Allows a lender to declare the entire outstanding balance of a loan immediately due and payable should a borrower violate specific loan provisions or default on the loan. A variable or flexible rate mortgage with an interest rate that varies according to the financial index it is based upon. To limit the borrower's risk, the ARM may have a payment or rate cap. See also: cap. Features of your home that fit your preferences and can increase the value of your property.