While things are getting back to normal, now that the shutdown has been resolved, the lessons of how the federal shutdown can affect mortgages shouldn’t be forgotten, especially with a lot of people relying on FHA and VA loans. People who want to refinance their loans or are first-time buyers who want the best rates will benefit from mortgage brokers who know the ins and outs of the industry. In other words, Tennesseans who want to refinance their loans to an FHA or VA loan should work with a renowned Tennessee mortgage broker, like Churchill Mortgage, who specializes in those loans.
These government-insured loans are quite appealing; not only do they have either a low down payment or none at all, they are also more flexible than other types of mortgages. Aside from that, FHA loans have no income limit, which means theoretically anyone can sign up for it, while VA loans can be financed up to 100 percent. On the downside, these loans also have limitations unique to them. FHA loans involve paying insurance premiums, which the FHA collects should the borrower default on it; while VA loans, obviously, require that the lender be a veteran of the U.S. military.
http://tennessee.churchillmortgage.com/info-articles/the-best-tennessee-mortgage-broker-can-adapt-to-federal-shutdowns/
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