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.
The VA mortgage has some wonderful benefits along with a few obstacles that borrowers need to understand. Learn the pros and cons of the VA loan and make a good, educated decision about your home purchase.
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 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 […]
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 […]
Back in 2010 FHA changed its rules for offering loans on condo units. The rules became so strict that a large number of condos across the country would not qualify for an FHA loan. Thankfully, changes are here. As of October 15, 2019, FHA will allow financing on a single-unit approved condominium project purchase. The […]
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.
Understanding these FHA minimum property requirements will help home buyers and sellers through the appraisal process and not be alarmed.
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! […]
