You will need at least at least the middle credit score of 640 or higher to buy a house. If you’re getting mortgage loan financing, such as an FHA loan or a USDA loan, the middle credit score needs to be 640 or higher. However, if you’re going with conventional financing, and you have a…
To secure mortgage loan today, you can have no thirty-day mortgage leads in the last 12 months. Your mom will have to wait a period of one year to be able to secure mortgage loan financing.
It’s a fact buying a house today has never been more affordable. Low house prices coupled with record low mortgage interest rates have made purchasing a primary residence, second home or investment property very appealing for many. Unfortunately, many purchase transactions fall out of escrow, some buyers are unable to qualify for mortgage loan financing…
So is it true 30 year mortgage rates are at 3.25%? Well that depends on how you look at it. The answer is yes if you willing to invest discount points to purchase your interest rate down, so long as your financial profile is completely flawless. Otherwise for the 99.9% us, 30 year mortgages are…
Single family homes, condominiums, planned unit developments….. and then there’s 2 to 4 unit properties, often called duplexes, tri-plexes and four-plexes. A 2-4 unit property is the oddity of the various property types, it’s this property type that has the most confusion when it comes to securing mortgage loan financing. People think a single-family residence…
Purchasing a home or refinancing a mortgage? Now is a fantastic time to consider taking out a home loan. Mortgage rates are still at ridiculous lows and home affordability has never been more attractive. The question everybody asks when getting a mortgage is “what interest rate am I going to get or what is your…
If you live in or own real estate in Sonoma County and need to refinance, the Harp 2.0 Refinance Program could be just the ticket to successfully reducing your interest rate and monthly mortgage payment. The Making Homes Affordable Program lifted their maximum loan-to-value requirements on March 18, 2012 for loans owned by Fannie Mae…
Purchasing a house is one thing, successfully closing escrow on a purchase mortgage loan is something else entirely. The top three mistakes home buyers and real estate agents make has nothing to do with mortgage loan financing and everything to do with the real estate purchase contract. “Anything specified, spelled out or added to a…