If you want to use rental income to help finance an investment property, a debt service coverage ratio (DSCR) mortgage could meet your requirements. The cash flow from the property can be used to qualify for the loan without needing to provide additional income documentation, such as tax returns. But is a DSCR loan right […]
Minnesota VA Loan The many women and men who serve our country in the armed forces deserve our utmost respect. They willingly sacrifice themselves in the pursuit of our country’s freedom. It is for this very reason that the Department of Veterans Affairs introduced VA loans. Unique Minnesota VA Home Loan Features The VA home loan […]
The overall strong real estate market has seen major booms in the last few years. The increase in average prices have led to a change in the Fannie Mae and Freddie Mac conventional loan limits, yet again. For the year 2024, the maximum loan limit amount allowed by either Freddie Mac or Fannie Mae for […]
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! […]
Every thing you need to know about earnest money when buying a home including how much you should give and how to get it back.
The United States Department of Agriculture agency provides an excellent way to purchase a home known as the Rural Housing Loan or USDA loan for short. For Minnesota residents in the right income bracket, this mortgage program is a way to buy a home without making a down payment. Basics of the USDA Mortgage USDA […]
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 […]
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 […]
Indiana USDA Rural Development Mortgage When looking to buy a home in Indiana, saving a large down payment could delay your purchase for years. Your lender might require 5% of the sale price as a down payment to qualify for the loan, but with a USDA Rural Housing guaranteed home loan, this is something you […]
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.
