Learn how to buy a home with no money down including information on FHA, VA, USDA, conventional programs and state specific loans!
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USDA Mortgage
The United States Department of Agriculture (USDA) offers a loan program known as the USDA Guaranteed Rural Housing Loan or just USDA Rural Housing mortgage. This program has been around for a number of years and is a great option for buying a home. The USDA Rural Housing Mortgage program is unique in three ways […]
Family Opportunity Mortgage Guidelines
Family Opportunity Mortgage Loan Program The lowest mortgage interest rates and the most favorable terms are typically reserved for owner-occupied homes. As the phrase implies, the owner of the property lives in the house as their main residence. When analyzing risks for lending money, mortgage lenders feel that the owner of the place is more likely […]
Minnesota Rural Development Loan
The United States Department of Agriculture agency provides an excellent way to purchase a home known as the Rural Housing Loan or USDA loan for short. For Minnesota residents in the right income bracket, this mortgage program is a way to buy a home without making a down payment. Basics of the USDA Mortgage USDA […]
Refinance Mortgage
Homeowners often get a ton of information from various sources about refinancing. Because there are many types of refinances it can be a bit confusing when trying to compare the different loans. This article will serve as a basic guide to explain a refinance mortgage and why a person would consider this financial move. Basics […]
What are Mortgage Overlays? Lender Guidelines Explained!
Mortgage overlays are specific rules a lender follows ABOVE the published guidelines set by Fannie Mae, Freddie Mac, FHA, VA and USDA.
How Much Money Do I Need for a Down Payment on a House?
Armed with this down payment information you can then make a plan to save up the funds needed and budget for your home purchase.
FHA Loan vs Conventional Mortgage: What’s The Difference
The following will compare an FHA loan vs Conventional mortgage, not to show that one is better than the other, but to highlight the strengths of each mortgage.
Pros and Cons of FHA Loans for Home Buyers
Weighing up the pros and cons will better help you understand whether your unique financial situation best suits an FHA loan.
Mortgage Credit Certificate: A First Time Home Buyer Tax Credit
The Mortgage Credit Certificate (MCC) is a tax credit that has been around for a number of years to help Wisconsin homeowners improve their ability to pay for their mortgage. Here are the basic guidelines of how the program works.