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.
Qualify for an FHA Loan in Illinois The FHA (Federal Housing Administration) loan is a great way for Illinois residents to purchase a home. Whether you’re buying your first home or 6th home, getting an FHA loan makes it possible to achieve homeownership with several advantages. Look at the following FHA mortgage requirements to learn more […]
2024 Illinois USDA Loan Illinois residents who are looking for a way to buy a home with no down payment should take a hard look at the Rural Development Loan (USDA loan for short). This mortgage is an excellent way for first-time home buyers in Illinois to save money on the acquisition cost and get a competitive fixed interest […]
This article discusses things that lenders will approve for people moving to another state, as well as things that will get a mortgage application turned down, and why.
There is a solid reason why the word “jumbo” is used to identify a certain type of mortgage loan. Typically, a jumbo loan is enormous in size when compared to an average home loan. For this reason, jumbo loans have a few special criteria that set them apart from other types of loans. What is a […]
VA Home Loan in Illinois Among the various benefits offered to our men and women who have served in the military, the VA mortgage is a real gem. The VA loan is a mortgage program that has empowered thousands of residents in the state of Illinois with the ability to buy a home and secure […]
The Federal Housing Administration (FHA) does more than offer ways for people to buy a home. They have another program designed to allow homeowners to get a lower interest rate, and hopefully a lower payment, without going through all the normal work associated with a refinance. The program is called the FHA Streamline Refinance and […]
Take the time to understand how the debt-to-income ratio works and what you can do to bolster your chances of getting approved for a mortgage.
Learn who is involved in the process of closing a loan and why it can take some time to seal the deal to your new home.
Saving for a down payment can hold you back from purchasing a home. But with the Illinois FHA program, you can purchase a home with as little as 3.5 percent down, making saving for the down payment a little easier. You might have money saved in your checking or savings accounts, but family members can also […]
