Conventional Financing: A conventional loan is a mortgage loan, which is not insured or guaranteed by any agency of the state or federal government.

FHA Loans: FHA loans have a lower down payment requirement than conventional loans, but higher than VA loans. FHA has a more liberal qualifying formula than on conventional loans but not as liberal as VA loans. FHA loans made before December 15, 1989 are fully assumable and can be creatively financed. Loans made after December 15, 1989 can be assumed at the same interest rate with qualification. Disadvantages- county loan limits may be inadequate in high cost areas. Appraisals may contain more repair requirements than conventional loans.

Veterans Administration: The VA loan program for owner-occupied housing is one of the best loan programs in the free world. It is possible for a veteran to obtain 100% loans up to the current loan limit with absolutely no down payment, and the seller or builder is allowed to pay all of the veteran's closing costs, making the total cash required to purchase, in some instances, zero. If the veteran desires higher priced homes, he generally is required to make a down payment on the amount exceeding the current guaranteed loan limit. Generally, the Veterans Administration is a little more liberal than conventional lenders would be with regard to the veteran's credit standing and qualifying for the VA loan, although recent VA underwriting changes make the qualifying criteria similar to conventional mortgages.

Jumbo Loans: Loans in excess of FNMA / FHLMC limits are called Jumbo Loans and often carry higher interest rates and points. Larger down payments are also required on these loans

Consumer Complaint Information: WR Starkey Mortgage, LLP (NMLSR#2146) is licensed under the laws of the State of Texas and by the State Law is subject to regulatory oversight by the Texas Department of Savings and Mortgage Lending. Any consumer wishing to file a complaint against WR Starkey Mortgage, LLP (#2146) should complete, sign, and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, Texas 78705. Complaint forms and instructions may be downloaded and printed from the Department's website located at http://www.sml.state.tx.us/ or obtained from the Department upon request by mail at the address above, by telephone at its toll-free consumer hotline at 1-877-276-5550, by fax at (512) 475-1360, or by email at smlinfo@sml.state.tx.us. 7 TAC 81.7 / TFC 157.007 / April 1, 2010. In Colorado: Regulated by the Division of Real Estate. In Georgia: Georgia Residential Mortgage Licensee.