Below is a brief description of mortgage options and ways to get the process started:
lenders would consider a conventional mortgage as a loan that conforms to the
guidelines set forth by Freddie Mac and Fannie Mae, the two government sponsored
jumbo mortgage is a mortgage with a loan amount above conventional conforming
loan limits. This standard is set by the two government-sponsored
FHA’s goals are to improve housing standards and conditions, provide an adequate
home financing system through insurance of mortgage loans and to stabilize the
financing for this loan will include the purchase price, as well as the
improvements you are either required to do to be able to live in the home, or
that you want to do, such as upgrade the kitchen...
basic intention of the VA direct home loan program is to supply home financing
to eligible veterans in areas where private financing is not generally available
and to help veterans...
most mortgage web sites offer a glossary containing hundreds of real estate and
lending related terms, we wanted to highlight the top terms that most borrowers
will hear several times...
of the most important items to remember when looking into financing is there is
sometimes a difference in the amount a borrower can qualify for vs what’s in
their budget for a comfortable...
you are purchasing, doing a rate/term refinance or taking equity out of your
property through a cash out refinance, occupancy type is a major factor in
determining the amount of down payment...
insurance (also known as mortgage guaranty) is an insurance policy which
compensates lenders or investors for losses due to the default of a mortgage
insurance is required for any FHA mortgage, irrespective of the size of the down
payment provided. The premiums for both insurances get cancelled at a certain
can a fully approved loan get denied for funding after the borrower has signed
loan docs? Simple, the underwriter pulls a new credit report to verify that
there hasn’t been any new activity since...
VA Funding Fee is an essential component of the VA home loan program and is a
requirement of any veteran taking advantage of this zero down payment government