The expression that “success breeds success” can be interpreted many ways. Most of the time it means that when people begin to prosper financially and personally that the success seems to build in to a snowball effect. The same thing can be said when people get approved for a conventional mortgage to buy a home. They feel that their credit is now strong enough they can do all the things that they have put off. However, the following mistakes can actually hurt their chances of finalizing their mortgage loan.
The good news of the real estate industry over the past few months has mortgage lenders and real estate agents feeling quite optimistic. Home values are rising, interest rates are still incredibly low and more people are in the market to purchase. This improving trend has been very kind to the jumbo home loan niche. If you are in the market to buy a home priced above the $417,000 mark here are some key differences between a conventional mortgage and a jumbo loan.
If you are a qualifying veteran, reservist or active duty military then you have likely heard and read some information about the VA mortgage loan. For those that qualify, this is one of the best ways to purchase a home. Here are some general guidelines about what it takes to get approved for the VA mortgage.
The internet has opened up a wealth of information for consumers to research and understand a real estate transaction like never before. Some professionals may see this as a way of allowing more competition in the market place. However, tested and proven principals of bringing top-notch service to all clients and vendors shows that the mortgage lenders and real estate agents who work the hardest on the right things will see much success from the internet. MortgageUpdated is committed to helping lenders and agents alike in spreading their message and stimulating conversation about practices that work best for the customer.
We strive to serve the needs of all potential home buyers. That is one of the reasons why we chose to become a certified WHEDA lender. The Wisconsin Housing and Economic Development Authority (WHEDA) has helped thousands of people break away from renting and empower them to buy their own home. Here are some of the highlights of the program.