FHA loans and conventional loans remain the most popular financing type for today’s mortgage borrowers. Here’s how to determine which program makes the most financial sense for you… FHA loans are insured by the Federal Housing Administration. The program contains two forms of mortgage insurance; an upfront mortgage insurance premium calculated at 1.75% of the…
Buying a rental property can be very lucrative and sound financial vestment. Here’s how to determine whether not buying a rental property with financing makes sense. Location, location, location Location for the property is critical. It is often thought a rental property is more dollars and cents transaction with less focus on location. While this…
It’s no secret interest rates are the main driver of the nation’s loan volume. Fixed rate mortgages are currently sub 4%. Here is why waiting for a better rate could be risky could move… The markets will continue to move The pricing associated with interest rates moves daily, in some cases multiple times per day.…
Well it might appear as though getting a mortgage is easier than it was a few years ago, the process is still dicey. It is no secret in the industry the majority of loans do not close on time. Here’s what you need to know if you’re going to be getting a mortgage in the…
Many homeowners are often inundated by the amount of junk mail offers they receive each month. Here is what to think about if you’re considering refinancing with a direct-mail solicitor… Confusing pitch You receive a letter in the mailbox about a refinance offer saying the mortgage offer is a fixed rate loan with an ultra…
Credit scores play a vital role in your ability to get a home mortgage. Here’s what you need to know if you are applying with a low credit score… First things first credit scores are used to predict the likelihood of a payment default in the next 60 days. A lower credit score will result…
Been turned down for a mortgage recently? Fear not, this recent change to conventional mortgages just made your chances of qualifying easier. Here is the latest … Fannie Mae recently changed their policy regarding restructured loans virtually eliminating many roadblocks. Fannie Mae had extra credit requirements in place for borrowers who had restructured mortgages in…
Saving up to buy a home is no easy feat. Here’s what you should take into consideration when planning out a home purchase. One of the key components of being able to successfully buy a home is having enough cash for a down payment plus closing costs. Generally, you’ll need at least $20,000 to buy…