Many misconceptions exist about the process of acquiring a jumbo mortgage loan. Thanks to the improving luxury housing market, jumbo loans have made a rebound. This article discusses the top 5 jumbo mortgage myths and why they are wrong.
Armed with this down payment information you can then make a plan to save up the funds needed and budget for your home purchase.
For potential home buyers who are in need of saving money on their purchase, there are some great ways to buy a home with a no or low down payment requirement. A few of the loans have very specific requirements in order to qualify. However, as we will show, most of these loans are available […]
Although some of these things may sound too good to be true, or even insane, all of the following facts about the USDA mortgage program are true.
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 […]
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 […]
Mortgage overlays are specific rules a lender follows ABOVE the published guidelines set by Fannie Mae, Freddie Mac, FHA, VA and USDA.
Whatever the situation may be, everyone needs to have some money set aside in an emergency fund to help them get through difficult times.
Weighing up the pros and cons will better help you understand whether your unique financial situation best suits an FHA loan.
We look at FHA, VA, and USDA, which are the three main government-insured loan programs, to help you pick the right program for your situation.
