The home loan process is more streamlined because the government doesn’t need to approve it. As a result, the process tends to move quickly, which means you get to move into your dream home sooner.
Depending on the size of your down payment, you can eliminate or reduce the PMI you pay monthly. The fee is reduced based on the amount of your down payment. A 20% down payment eliminates the fee.
A good credit score, stable income, and other criteria could qualify you for a lower interest rate reducing your monthly payment amount.
