Qualifying for a mortgage involves: an acceptable credit score, sufficient assets and stable income. These are to show you can support a mortgage payment, plus other liabilities. You must have a balance of all three to successfully qualify for financing. The following is what you must know when trying to qualify with “paper losses” on…
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FHA loans have gotten a bad rap in the last few years. Here is the Granddaddy Truth about FHA loans, you should really consider if you are looking for mortgage options! FHA loans are another option you can take as a borrower, to help you accomplish your financial goal. The Federal Housing Administration ensures the…
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If you have tried to refinance, but couldn’t because of income, or insufficient home equity, consider the FHA Short Pay Refinance Program. The FHA Short Pay Refinance Program is backed by HUD, just like a traditional FHA Loan, and offers current homeowners an opportunity to refinance into a fixed rate mortgage for payment relief. Traditionally,…
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