When you’re buying or refinancing a house it goes without saying you want to get a competitive interest rate with favorable terms associated with the money you are borrowing. Two programs that support your ability to do this are Fannie Mae Home Ready and Freddie Mac Home Possible. These two programs typically have about 1/4…
Fannie Mae and Freddie Mac have a very conservative calculation when it comes to using rental income to qualify. Here’s what you need to know if you’re getting an FHA mortgage and you have mortgaged rental property… Fannie Mae and Freddie Mac’s mortgage calculation of use net income is super conservative and will make your…
Buying a rental property may or may not help you qualify for financing. Here’s what you need to know to get the most amount of bang for your buck in when buying a rental… Fannie Mae and Freddie Mac have a formula that they take into consideration including depreciation, mortgage interest paid to banks, taxes,…
Looking to buy a primary home or maybe a move up home, but don’t have any cash? Following are some programs they could be available to you to help you purchase a house… VA financing… if you are a military veteran you can purchase a house with no money down using a VA loan. The…
Condo units are easier on the pocketbook than single-family residences. Condos offer home ownership at a fraction of the cost but like all real estate comes with different nuances. Here’s what you need to know when purchasing a condo unit… How much do you qualify for? This should be priority number one for all home…
Buying a house is probably the largest financial transaction most people will ever take on. Following is why you need to consider purchasing a house if you have access to cash… Buying a first home can be a pivotal moment in the milestones of life. Many people want the pride of being able to purchase…
The Federal Housing Finance Agency just released the new 2018 national loan limits. These loan limits provide increases in most counties throughout the United States. Here’s how the changes will benefit you when buying or refinancing a home. The loan limit increase changes the conforming loan limit from $424,100 to $453,100. This increase allows for…
Here’s what you need to know if you’re trying to pay off debt before buying a home Paying off debt to buy house can absolutely be beneficial. Debt cripples a would-be home buyer’s ability to afford a mortgage payment. Here is how you should strategically look at paying off debt to buy a home… Mortgage…