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.
Higher VA Loan Amounts at Lower Rates! With no max loan amounts and interest rates significantly below comparable jumbo products, there’s no better time to consider jumbo VA loans! An eligible veteran is a person who served on active duty in the Army, Navy, Air Force, Marines, or Coast Guard, and who, (except for a […]
Qualify for a Bank Statement Loan for the Self-Employed While the mortgage crisis from 10 years ago may have changed the way mortgages are offered, the bank statement loan program is still available under the right circumstances. This type of non-qualified mortgage loan will require some documentation for the down payment and income, but it […]
Rather than provide their kids or grandkids with a check as a down payment on a home, some people choose to offer a gift of equity on an existing home.
When using a mortgage lender, the purchase of a home will always require an appraisal. However, the Veterans Administration goes an extra step with their loans by providing a home appraiser to determine if the property meets VA minimum property requirements.
Weighing up the pros and cons will better help you understand whether your unique financial situation best suits an FHA loan.
Michigan FHA Loan When you are purchasing a home in Michigan, an FHA loan may offer some advantages. Whether you are purchasing your first property, or even if you have owned many homes, a loan backed by the FHA (Federal Housing Administration) could meet your requirements. Benefits of FHA Mortgage Loans If you have had […]
Home Possible® is a Freddie Mac program that has very flexible credit guidelines for low to moderate income borrowers. It’s available to purchase or refinance a single-family home, condominium, or a 2–4 family home. If you need some help to overcome obstacles to homeownership such as, having a non-traditional credit history or lacking of funds […]
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 […]
Buying a home while in the middle of a divorce takes a bit more preparation and understanding compared to other types of home purchases. The following information should help people that are in the midst of a divorce and wishing to buy another home.
