Considering the possibility of buying a home this year? Contrary to popular belief, you need not have a down payment to get your foot in the door. Tips to avoid monthly private mortgage insurance… Ways To Get The Keys What you’ll need: a good credit score, at least 700 credit score or better with a…
House hunting? If your appetite for a turnkey renovated home is a flipped house, you may end up jumping through more hoops to close escrow. What Is A Flipped Home? A flipped property is a situation where the house is acquired usually by a real estate investment company (also could be an individual) and is re-offered…
A judgement, a court ordered nightmare that if not handled correctly can make getting a mortgage loan much more stringent than it otherwise needs to be. What you’re lender will want want… Quick Terms To Know Judgment-a court ordered debt that can arise from a number of factors, a lawsuit, a divorce, business dispute to name…
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…
For consumers purchasing or refinancing a home with less than 20% equity, little-known fee inflates the monthly outlay. Mortgage insurance is paid by the the homeowner for the benefit of the lender to ensure the lender against future payment default. Mortgage insurance, also dubbed as PMI (an acronym for private mortgage insurance), can be easily…
Getting a mortgage loan is challenging enough, with strict underwriting, providing detailed explanations, sourcing of monies and debt ratios, adding a divorce into the mix makes things even more technical for the divorced borrower. The good news is despite most divorce circumstances, many can still successfully obtain financing. Here’s what to know and do when…
Obtaining a home loan requires careful consideration of not only the costs involved, but where your loan is being originated. When people think “mortgages”, they usually think of their local bank or a mortgage broker. Internet only lenders are also in the competitive mix, aggressively promoting ultra-low rates aimed at the masses. Because an internet…
This it depends on all four factors of creating a mortgage, credit, debt, income and assets. Assuming you have the necessary assets for down payment and/or reserves in the bank and your credit score is considered good, let’s look at the meat and potatoes, is there enough income to offset all monthly liabilities? How the…