I hear a lot about the Federal Housing Administration, and much of it is simply wrong. “The FHA is the next subprime.” Untrue. “The FHA caused the housing crisis.” Also untrue. There is a lot of misinformation making the rounds, which helps neither brokers nor buyers. Here’s the low-down on what brokers or buyers’ agents […]
Financing and Your Credit Score Credit is an important component in helping you find the best loan product to meet your home-buying needs. The way you handle credit obligations can greatly affect your loan choices and the interest rates you can get. In short, the better your credit, the more loan options you will have […]
Types of Home Loans When it comes to paying for your home, you have a wide range of financing options. Your home mortgage will likely come through a financial institution such as bank, or it may come through the seller. We can direct you to a mortgage expert who can help you sort through the […]
The Loan Process If you’re like most people, you will probably need to secure a mortgage loan for your new house. Application for a home loan can take as little as one week and up to a month, depending on the type of mortgage. Your lender or mortgage broker will be able to give you […]
Shopping for a Loan Securing a mortgage is a big step, but it doesn’t have to be intimidating. Understand the different types of loans and lenders, and you can take control of the process to get the loan that’s right for you. With thousands of loan options available, it’s important to work with a trusted […]
Figuring Your Housing Budget Have you ever shopped for clothes, furniture or gifts without a budget and later found that you had overspent? It’s easy to do, especially when looking at homes for sale. Obviously, staying on budget is very important when house hunting. That’s why you need a general idea of how much house […]
What Your Lender Will Need From You How much do you need to borrow? Regardless of the amount of your mortgage, expect to be asked that question and many more. One way to think about a Lender is that they’re basically making an investment in you. For their investment to pay off, they need to […]
Questions for Your Lender There is much you need to know, and understand, about a mortgage and it’s difficult for anyone know all the right questions. That’s why we created this list of questions to help you know what to ask your lender. Before choosing a lender and filling out an application for your mortgage […]
Government-Backed Loans – VA and FHA Loans There are some real advantages to government-backed Veteran’s Administration (VA) and Federal Housing Administration (FHA) loans. Many first-time buyers choose them because they require little or no down payment for qualified buyers. Veteran’s Administration (VA) Loans Qualified veterans, including Reserves and National Guards, can take out loans with […]
The Down Payment: How Much Do I Need? Of all the questions you may have about buying a new home, perhaps the biggest one is this: How much money do I need? To buy a home, you’ll need a down payment, closing costs, pre-paid items and reserves. The amount of each of these will vary, […]