Post image for The Non-Occupying Co-Borrower Option: FHA and Freddie Mac Edition

Owning a home is something that most adults dream about. Especially for the younger crowd that has sacrificed a few years by attending college and pursuing a degree that will offer an illustrious career for years to come. However, many young people do not want to wait 5+ years after college to save up for a down payment on a home. Thankfully, FHA and Freddie Mac offer a way for a parent or other relative to co-sign with someone to purchase a home without the need to live within the property. It is called the non-occupying co-borrower.

[Continue Reading…]

Post image for The FHA 203K Loan Can be a Great Alternative to a Construction Loan

People looking to become homeowners are often faced with the same old question: buy a new home, build a new home or buy an existing home? For most people, building a new home can be quite a challenge. First, the person must locate the right property. Then they will need to talk with a local contractor and review multiple home plans in order to choose the right structure for their needs. Finally, they will need to get the construction loan from a bank. For people willing to think outside the box, an FHA 203K loan can be a great alternative to this scenario.

[Continue Reading…]

Post image for 100% VA REFINANCE Loan: The Little Known Advantage of VA Mortgages

A home loan, or a mortgage, is just like any tangible part of a home; it can be replaced. Appliances get updated or replaced due to improvements in efficiency. Carpeting, paint schemes, furniture and décor are replaced in order to accommodate different needs or to stay current with modern styles. A mortgage can be replaced for a number of reasons and all of them can be beneficial to the homeowner. This is especially true in the case of qualified Veterans who wish to use the VA mortgage program.

[Continue Reading…]

Post image for Already Own 4 Investment Properties? Financing is STILL Available for More

Prior to 2009 investors that wanted to finance more than 4 investment properties at a time were limited by conventional loan guidelines. This meant that they either had to seek out owner-held financing or use subprime alternatives for buying and holding properties. However, lending regulations changed in 2009 allowing investors to have as many as 10 investment homes under mortgage. Here are some of the highlights of the program and how to increase your investment portfolio.

[Continue Reading…]

Post image for The Minimalist Guide to Buying a Home While Going Through a Divorce

Economists say that there is risk or cost associated with every money decision we make in our lives. For instance, choosing to spend money on some new clothes means you will have less money to spend on other items. Conversely, saving away diligently for retirement each and every paycheck means there is a little less money to spend on extravagances. However, buying a home while in the middle of a divorce can be quite risky. Approaching it with the right information and proper mindset can help make you more successful in getting approved for a new mortgage loan.

[Continue Reading…]

Post image for The Family Opportunity Mortgage: What College Students and Elderly Citizens Have in Common

Although youngsters entering college for the first time may seem a world apart from the average elderly citizen, these two groups have a very important common trait; the need for adequate housing. For many years young people have rented the absolute cheapest place possible to save on expenses that were devoted to college expenses. At the same time, many older people find themselves in need of downsizing their home or even selling their beloved property in order to devote more funds to basic living costs and medical bills at a time when their income has been drastically reduced. Thankfully, the Family Opportunity mortgage can assist both of these groups.

[Continue Reading…]

Could a Jumbo Mortgage be a Wise Move for High Worth Individuals?

April 10, 2014
Thumbnail image for Could a Jumbo Mortgage be a Wise Move for High Worth Individuals?

The resurgence of real estate markets over the past year has brought about an unusual situation. While interest rates on conventional loans are still unbelievably low, new lending guidelines are making it a bit more difficult to approve a loan. At the same time, the number of jumbo mortgages continues to climb each month as Continue reading →

Read the full article →

Spring is The Time for Veterans to Buy a Home with No Down Payment Thanks to the VA Mortgage Loan

April 3, 2014
Thumbnail image for Spring is The Time for Veterans to Buy a Home with No Down Payment Thanks to the VA Mortgage Loan

The VA Mortgage is standing ready to endorse their no money down loans to aid veterans in getting a home.

Read the full article →

Understanding the Time Needed to Close a Mortgage Loan

March 27, 2014
Thumbnail image for Understanding the Time Needed to Close a Mortgage Loan

Believe it or not, mortgage loans are similar to automobile repair. Specific types of cars take longer to do routine repairs and specific types of mortgage loans take longer to close. Here are the various types of loans and the approximate length of time necessary to close.

Read the full article →

The Devil Is in the Details: Follow These Steps for an FHA Cash Gift Down Payment

March 6, 2014
Thumbnail image for The Devil Is in the Details: Follow These Steps for an FHA Cash Gift Down Payment

While the cash gift is not only allowed but encouraged by the Federal Housing Administration, there are rules to how the money can change hands and how it is all documented. If the steps are not followed it is very likely that the home loan will be rejected.

Read the full article →