Obtaining financing to buy a home is undoubtedly a process of documenting, explaining and documenting some more. Here is how a car lease can be a hurdle for home buying plan. Work-around options… What You Pay Counts When you apply for a mortgage loan, a mortgage broker is going tally up total payments you make…
Trying to get a loan for a mobile home? You may be surprised learn there is financing options available for non-single-family residence homes. What to know… Your property type holds all the cards in whether or not you’ll be able to obtain competitive loan terms. For starters, you need to own the land. If you…
Planning to buy a home sometime soon? If you’re working on the down payment, know what you can and cannot do with your bank. Here are the top 4 ways to borrow the cash needed for a home… 401k/Retirements or Liquid Assets- this option remains a viable source to procure down payment funds to buy…
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…
Not sure when to lock your interest rate on your mortgage? Here’s a few things to consider in getting the best possible combination of rate and price… The biggest things that determine the final rate and pricing are: loan size occupancy loan program i.e. Conventional, Jumbo, FHA, VA credit score property type loan to value…
Credit is the biggest hot button topic in mortgage lending by far. Most would probably agree, any time you can raise your credit score to improve your mortgage scenario, take advantage of it. Every situation is different and here’s what to be mindful if your credit needs a little love. There are three different loan…
It is no secret the cost of housing is expensive. Rising rents, and a strong real estate market, make it harder for first-time buyers to get a piece of the American dream. Buying a home means getting yourself credit worthy in these four areas: Credit Debt Income Assets If you do not know where you…
Consumers looking into the possibility of buying a home should know you need less money than you think. Here’s the amount of cash you need to buy a home, and what you need to know using as little down as possible… Cash Needed Contrary to popular belief, you don’t need 20% down. The minimum down…