’ve done everything right. You sent your documents to the lender, got preapproved, and now you’re actively house hunting. Maybe it’s been a few weeks since you got your initial FHA preapproval. You’ve seen some homes, made a few offers, but nothing has gone into contract yet. Then, you hear the question: Should I switch…
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If you’re looking to buy a house but want to avoid the income limits and red tape often associated with traditional down payment assistance programs, Security National Mortgage Company (SNMC) offers a solution. Their unique FHA program allows you to buy a home without the usual restrictions, making it easier to achieve homeownership. This program…
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Deciding between an FHA loan and a conventional loan for your home purchase is an important choice that depends on your financial situation and goals. Both loan options have distinct benefits and considerations, so let’s break down the key differences to help you make the best decision for your needs. A 5% down conventional loan…
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Mortgage rates are constantly fluctuating, especially during periods of economic uncertainty or disruption, such as an upcoming election. As we approach the November elections, we can expect the markets to be more volatile, affecting both stocks and mortgage rates. Given these fluctuations, waiting for long-term interest rates to drop before refinancing may not be the…
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Buying a home is a significant financial decision that requires careful planning and consideration of various financing options. Two common methods prospective homeowners might consider are borrowing from a 401(k) and utilizing down payment assistance programs. Each approach has its benefits and drawbacks, and understanding these can help you make an informed decision tailored to…
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