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 […]
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.
USDA Rural Development Mortgage When you are choosing which loan program is right for you, you might not consider the USDA. As this program is designed for homes in rural areas, you might not think it is suitable for your situation. However, the majority of Michigan should be covered and this type of loan offers […]
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.
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.
If your situation doesn’t fit the standard expected by lenders, you could find it more difficult to qualify for the home loan you want. But there could be other options that will make financing your home purchase easier.
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! […]
The various mortgage programs offered under the approval of the United States Federal government have some type of fee. FHA, VA, and USDA Rural Housing all fall into this group. This article will explain the fee charged by USDA and how it is used. USDA Annual Charge All borrowers that have a USDA loan are […]
Indiana VA Loan: How To Get A VA Loan in Indiana If you have served in the armed forces, you can benefit from a VA loan when purchasing a home. The Department of Veterans Affairs has authorized lenders to offer loans based on their rules. This reduces the risks for the lender as the loan […]
This detailed examination will provide the basics of getting a pre-approval from a local lender, looking for a property, completing the mortgage application and then the closing.
