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.
Whatever the situation may be, everyone needs to have some money set aside in an emergency fund to help them get through difficult times.
Saving for a down payment can hold you back from purchasing a home. But with the Illinois FHA program, you can purchase a home with as little as 3.5 percent down, making saving for the down payment a little easier. You might have money saved in your checking or savings accounts, but family members can also […]
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 […]
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! […]
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.
How To Qualify For An FHA Loan in Florida The FHA loan has long been a standard for first-time homebuyers and experienced home buyers alike to purchase a home. There are many reasons why this program continues to be popular among potential homeowners. Here we present some of the basic guidelines of the program for […]
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.
