On November 25, 2015, the Federal Housing Finance Agency announced the 2016 new loan limits. Most notably, four counties in California have increased as well as various others throughout the country. Here’s what you need to know regarding the changes… Know Your Loan Category When you apply for a mortgage to buy a home or…
If you’re thinking about qualifying for a mortgage, here’s what you must know if you have payments with a few months left to go. Get the facts… When you apply for a mortgage loan, the lender takes in the consideration your credit score, your cash you plan to use to spend on a home, your…
Ever wonder the best way to gain more control of your debt? A low rate and payment helps, but discipline and smart income choices play an important role as well… Income is a crucial component lenders look at when granting you a mortgage loan. It is the basis by which they are going to get…
If not handled properly, your student loan may adversely change your home purchase plans. Here’s what you probably don’t know regarding your student loan servicer… Just like any other credit obligation, your student loan servicer reports to the credit bureaus. Even if the payment is deferred, the obligation still reports every 30 days much like…
Mortgage interest is a double edge sword, on one hand it’s a tax-deductible expense, but by and large it is the heaviest cost of homeownership. What to pay attention to if you have not done a mortgage in a few years or bought a home before. Interest Works The Opposite Of Rent The amount of…
Looking for a bad credit mortgage loan? If your credit is not up to par, yes, you can still get a mortgage with hoop jumping. Believe it or not you may even be able to seal the deal even with credit score sub 620. Here’s what to expect… FHA- that’s right, the only program out…
Here are three things you must have to buy a home in today’s competitive real estate market… $20,000 of cash-The market has radically changed and in many markets across the country, sellers are in control. You’ll need at least $20,000 of your own funds or have access to $20,000 to buy a home successfully. $10,000…
It is no surprise there is significantly more demand for housing than there is enough supply creating intense competition. If you’re pre-approved and home hunting, here’s what you need to know if your competition has cash… All Cash Offers No matter what there is a chance you will lose out to the competition on a…