We strive to provide the best Mortgage and Real Estate information on current programs, news and the industry at large. Please subscribe to our blog to receive updates via email. Follow the conversation at #MortgageUpdated on twitter or #MortgageUpdated on Facebook for the latest industry updates and helpful articles from around the blogosphere!
The focus of #MortgageUpdated is to be a source of material that can used by everyone. For example, real estate agents can find useful tips on improving their marketing, staying up to date with social media changes, and developing a plan to set themselves apart from their competition.
In addition, mortgage lenders can stay up to date with changes in mortgage rules, learn about new programs and find out how peers are creating a lasting impression on their clients.
Lastly, people who are buying or selling a home are the most important part of our focus. We want to educate our clients, and the clients of our peers, so that they can enter in to a real estate transaction armed with the best knowledge for their situation.
Illinois no money down home loans enable those who have not been able to save for a down payment to realize the dream of home ownership. We offer three mortgage programs still available with little or no money down 100% financing for all Illinois residents:
Understanding how an FHA loan works can relieve stress for home buyers in the same kind of way. Here are some of the major points to consider.
Here are some major questions any potential home buyer should ask their mortgage lender before signing up for a loan.
Without a doubt there is a bit of a learning curve for most first time home buyers when it comes to mortgages.
The VA program has gone well beyond helping a group of returning soldiers obtain a loan to the point that whole generations have benefited from the VA’s efforts. For people that meet the requirements a VA mortgage beats out other types of home loans in big ways.
Although home inspections are advertised regularly and recommended by mortgage lenders as well as real estate agents, first time home buyers may still be a little unsure about the purpose of the inspection. In a nutshell, the inspection gives the buyers a full view of the home’s condition at the time of purchase. This represents a base line from which the buyers can build their knowledge for future repairs or renovations.
Although some analysts may still have a few questions about the real estate recovery, historically low rates along with an excellent inventory still make this a great time to purchase a home. However, buying a home is a negotiation. And the side that is best prepared in any negotiation usually comes away with the better deal. Here are some vital questions about home buying and the key to understanding each one.
Over the past 5 years many areas in the country have seen sharp declines in home values. Thankfully, that trend is starting to reverse. For this reason, most lenders are placing a lot of scrutiny on an appraisal for people considering a refinance. The appraisal is designed to ensure that the value assigned to the home matches the local market.
One of the main pieces of an FHA loan approval is the borrower’s debt to income calculation. It is important that home buyers understand how this number is calculated and what they can do to improve their chances of getting approved.
Many couples choose to use only one certificate to buy their first home and reserve the other VA certificate for a larger home purchase later on. If the spouse does not co-sign on the loan then they most likely will not be held responsible for the loan. This is not true in states that observe community property laws like Wisconsin.
With many years of experience in the mortgage banking industry, and extensive practice in originating home loans for bot...Read More →
Hi, my name is David Leonard. Helping people finance their dream home is what I do best. I make it as possible by coming...Read More →
