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.
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 […]
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.
Along with St. Paul, Minneapolis is collectively called the Twin Cities. The metro area of the Twin Cities ranks at number 14 in terms of the overall population. Ranked as the most populous city in Minnesota, Minneapolis is also the county seat of Hennepin County. Population and Number of Homes According to a census from […]
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.
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.
Florida USDA Home Loan Buying a home without making a down payment can be rather difficult. Most conventional mortgages require at least some type of down payment that ranges from 3% to as much as 20% of the home’s selling price. For a $200,000 home that can mean $6,000 to $40,000 out of your pocket! […]
For people that want to not only buy a home but get a great deal on their mortgage, the USDA home loan is one of the better programs available for those who qualify.
The biggest hurdle that most residents in Wisconsin face when buying a home is the down payment. For some people, it could take 5 years or longer to raise enough for a 5% down payment on an average-priced home. However, the USDA Rural Housing mortgage is a much better solution that is available to thousands […]
