To purchase a home you will need a down payment of at least 3.5% of the purchase price. Gone are the days of no down payment alternatives, down payment assistance, and seller offered programs to come up with the money needed to close escrow. Here’s five ways to come up with the down payment to…
Timing the market, determining the best time to lock in your mortgage rate when refinancing your house, welcome to the numbers game. Mortgage rates fluctuate just the way a stock ticker does, so identifying whose a better priced loan lender, at any given point in time, can be an ever more complicated process. That is…
Yes you can. Here’s the best possible scenario to have to FHA Loans out at the same time. You purchased your home originally with an FHA Loan, put 3.5% down and now your situation has changed. Any one the following is makes sense with FHA: perhaps your business is such that you need a bigger…
To say current mortgage rates are volatile, is an understatement. For the last two months there’s been strong swings in mortgage pricing, mortgage rates to very unstable. Nothing can be more frustrating for pre-approved home shopper knowing their ability to qualify and their subsequent proposed payment could change at anytime. How to deal with volatile…
Getting a mortgage anytime soon? Two types of home loans are inherently pricier than their traditional mortgage counterparts and we’re not talking subprime or private money. If your credit score is beneath 680 or you have little equity or you have credit blemishes, fact is borrowing money will cost you… FHA Loans and Conventional Loans…
You’re doing everything right, you’re paying your bills on time, you earn good income, and you’re applying for a mortgage with second thoughts. Maybe you’re trying to buy a new home, and something’s just not right, perhaps the proposed new payment is a financial squeeze. Paying attention to the signs means the difference between making…
Yes, having a cosigner in most situations does help you qualify for a mortgage as long as the cosigner has additional income used to offset the new housing payment liability. Consumers seeking to qualify for mortgage loan financing can use the benefit of someone else’s income to help them purchase a home or refinance a…
To this day, there is still the general belief that in order to purchase a home, you need to have 20% down, and have good – stellar credit history. The good news is you don’t need a large down payment, your credit can be actually marginal, even “less-than-perfect” and you can still buy with competitive…