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.
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 […]
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.
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! […]
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.
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.
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 […]
FHA guidelines prospective buyers need to keep in mind when shopping for their home. FHA approved lenders are able to offer mortgages with enticing rates for people that might not qualify for a Fannie Mae or Freddie Mac home loan.
