VA Loan Check Up – 3 Things to Look at Before You Apply
The U.S. Department of Veterans Affairs (VA) offers home loan guarantee benefits that allow approved lenders to offer loans at attractive interest rates while requiring little to no down payment. If you are a veteran, you may be eligible to receive a mortgage loan under the VA guarantee program. Here are 3 things you need […]
Using Your VA Loan – 5 Steps To Owning a Home
The U.S. Department of Veteran’s Affairs (VA) does NOT issue loans. The VA does, however, provide a guarantee to reimburse lenders 25% of the loan amount in the event a borrower defaults. The reduction in risk that the VA guarantee provides to lenders issuing VA loans allows them to offer lower than normal interest rates […]
Jumbo Loans – Who Qualifies and Why You Would Want One
Depending on your financial circumstances and the property you want to purchase, a jumbo loan may be a good choice for you. Because jumbo loans exceed Fannie Mae and Freddie Mac’s conforming loan limits, they are typically held “on the books” by banks as profitable investments. Since they do not have to meet external underwriting […]
Jumbo Loans – What They Are and How To Get One
Jumbo loans may have a reputation as a somewhat exotic form of home financing, but in the right circumstances, they can be the perfect fit for you and for the property you plan to purchase. Here is an easy-to-understand overview of what you need to know about jumbo loans. Loan Limits Two government sponsored enterprises […]
Mortgage Options For The Self-Employed Borrowers
Since the sub-prime mortgage crisis of 2008, it has been tough for self-employed workers to get a mortgage or even refinance their existing loans to take advantage of lower interest rates. The rules have just gotten tougher, but there are still options available. Qualified Mortgages Sweeping new regulations that went into affect January 10, 2014, […]
Self-Employed Mortgages – 5 Steps To Help You Qualify
The days of the stated income loan are gone. Even borrowers with substantial assets, steady paycheck, and great credit are being closely scrutinized when applying for home loans in this post financial crisis era. That leaves many self-employed workers wondering if it is even possible to qualify for a home loan. The answer is yes, […]
Recovering From Foreclosure – How You Can Become a Homeowner Again
Foreclosure can be a devastating experience. To realize your dream only to have it die may have left you thinking that you will never own a home again. Being able to buy a home after recovering from a foreclosure may just be a matter of waiting. While you’re waiting, it’s important that you are preparing […]
Healthy Home Ownership – Life After Bankruptcy
Over the past 5 years, more than 6 million Americans have filed for bankruptcy. Prior to the bankruptcy code changes in 2005, another 14 million people had filed. If you were caught in the down draughts of the most recent financial crisis or were a victim of the dot-com bubble, you may count yourself among […]
After Sale Salvation – After a Short Sale Good Intentions Make a Difference
Good intentions make a difference, according to lenders that help buyers secure mortgage financing after they have gone through a short sale. Lenders are increasingly looking beyond credit scores to determine a borrower’s willingness-to-pay. This becomes increasingly important when looking at borrowers who have gone through a short sale. Strategic short sales have become common […]
Prequalified – Your 5 Step Guide to Getting the Best Loan Possible
Many people think the first steps to buying a home are driving around neighborhoods, visiting open houses, and researching schools – but really, they’re not. Buying a home can be a lot like a long distance race. Getting prequalified for a mortgage is your first step. Starting is no guarantee of making it to the […]