Understanding Loan to Value Ratios

There’s a reason that lenders often reemphasize one common phrase throughout the homebuying process: it’s one of the most expensive purchases you’ll ever make. With that purchase comes risk, as real estate transactions are often established through financing that runs 30 years or more. The reality is, that financing is established on properties that can —… Read More »

Best Mortgage Loans for Senior Citizens & The Elderly

Housing, particularly in the United States, has a fairly predictable lifecycle. The reason is that most homebuyers who buy a house finance that purchase with a mortgage earlier in life and therefore engage in a long-term financial obligation in which they ‘agree’ to accumulate equity in their home. Home loans for seniors and the elderly… Read More »

Understanding No Doc Mortgage Loans

When it comes to no-doc mortgage loans, the devil is in the details. Or lack thereof. These complex mortgages, known for no/low documentation, are adverse of traditional mortgage loans in almost every way. How so? They require no verification of income, making it entirely possible to buy a home without providing W-2s, pay stubs, tax… Read More »

FHA vs Conventional Mortgage Loans

Are you house hunting? If so, there’s something else you should be thinking about before locking in your mortgage: wealth building. In a perfect world, you’d find a lender who could outline hypothetical outcomes and give you the lay of the land when putting a comparable Federal Housing Administration (FHA)-insured mortgage against a conventional mortgage… Read More »

How Does a VA Mortgage Loan Work?

Are you currently serving your country or a recently discharged military veteran? If so, you know your branch of service has likely instilled discipline, strong values, a sense of duty, and loyalty. Among those numerous positive outcomes that can result from military service, there’s also another one you might not have thought of — homeownership. … Read More »

Can The COVID-19 Pandemic Give You A Higher Credit Score?

The COVID-19 pandemic is here and it divides American mortgage borrowers. For some it means higher credit scores and record low mortgage rates. For others the result has been job losses and a growing stack of unpaid bills. We now face a virus that has brought illness to millions, shut down much of the economy,… Read More »

What Is an Energy Efficient Mortgage?

Prospective homeowners who want to enjoy higher energy efficiency savings and possibly afford a larger mortgage have a great option – the Energy Efficient Mortgage (EEM). An EEM is a mortgage that credits your home’s energy efficiency into the home loan itself. An EEM gives you the chance to finance energy-saving measures into one mortgage.… Read More »

How to Get a Stated Income Mortgage Loan

If you are self-employed and do not have a traditional income with W-2s and pay stubs, you may wonder if you can get a mortgage in 2020. Yes, there are options for self-employed professionals to get a home loan without traditional proof of income. These are known as stated income mortgages. But the rules for… Read More »

COVID-19: Can You Still Get FHA Mortgages?

COVID-19 is here and yet the FHA mortgage program just keeps chugging along. It allows borrowers to buy real estate with as little as 3.5% down and it’s been the go-to mortgage option for first-time buyers for decades. More than 40 million FHA-backed mortgages have originated since the program started in the 1930s. But now… Read More »

First Time Home Buyer Mortgage Tips

Becoming a homeowner is quintessential part of the ‘American dream’, so obtaining the right mortgage is a critical step in the first time home buyer process. It’s no secret that the U.S. housing market has been surging, so it is natural that mortgage companies are comfortable expanding credit and home loan financing for first time… Read More »

Bad Credit Mortgage Tips for Low Credit Scores

If your credit score is cringe-worthy and you’re thinking about buying a house, you may have some legitimate concerns about your chances of getting approved. But fear not: You may still be able to get a mortgage with bad credit. However, your credit history will undoubtedly make the application process more nerve-wracking, complex, and expensive.… Read More »

How Low Rates are Great for the Housing Market

If you’re trying to buy a house, you need to understand all the aspects of obtaining a mortgage rate and the various factors that will influence that number. Why? If you go into your house hunt with no clear idea of how mortgage rates work, you’ll face a more complex process and potentially walk away… Read More »

10 Ways to Get Approved for a Home Loan the First Time

Are you in the market for a home loan in the new year? Whether you are buying your first home or refinancing your existing one, you can improve your odds of being pre-approved for a home loan this year if you follow our helpful tips below. #1 Make Sure You Know Your Credit Score As… Read More »

Good Income, Little Savings? Mortgages with Little Down

Down payments are a big hurdle for many home buyers. Monthly mortgage costs are affordable but down payments are a hurdle. The good news is that there are ways around down payment roadblocks, you don’t have to be a victim of old-fashioned down payment requirements. The 20% standard Down payments have been a barrier to… Read More »

How To Engineer Lower Mortgage Rates

When it comes to mortgage rates no one knows what the future will bring. There is no better example than 2019. Many economists forecast mortgage rates of 5.5% and even more. What really happened was that rates went down. According to Freddie Mac, for the first 11 months of 2019 mortgage rates averaged 3.95% and… Read More »

Should You Get a Bank Statement Mortgage?

Bank statement mortgages are becoming more common, loans where monthly bank statements can be used instead of tax returns to support a mortgage application. There is new evidence that bank statements can lead to better credit scores for many borrowers, especially those with lower credit scores. In turn, better credit scores can mean reduced mortgage… Read More »

Shouldn’t FHA Mortgages Be Cheaper?

FHA mortgages should cost less. This is a government program that churns out billions of dollars in annual surpluses, money that comes from borrowers. If FHA mortgage loans were less costly then more people – especially first-time buyers – could buy homes. That would be great for buyers and also sellers, lenders, and brokers. It… Read More »

8 Things To Know Before Starting the Mortgage Process

Mortgage rates have been rising as the US economy is gathering strength. Some renters who have been on the fence about buying a home have been starting to think about getting into the market before rates nudge above 5% in the next year or so. But buying your dream home is not as easy as finding… Read More »

Minimum Home Loan Credit Score Requirements

Buying a house can be a stressful time, so it is important to be organized and understand what the credit requirements are up-front for the various mortgage programs in the United States in 2020. Read on to see what home financing programs are available and what the minimum credit scores are set by the banks… Read More »

VA Home Loan Requirements

There are many reasons why VA loan requirements are so attractive to borrowers with military credentials this year. The U.S economy is booming again, the housing market is soaring and eligible VA home loan applicants have access to arguably the best mortgage to refinance or buy a house in 2020. When most people look at… Read More »

VA & Military Home Loans for First Time Buyers

There are many great home financing advantages to being a military veteran or active military. One of the biggest pluses that you can enjoy is getting a VA loan with competitive interest rates, low closing costs and no down-payment required. If you are VA eligible you owe it to yourself to learn about the benefits… Read More »

FHA Mortgage Loan Process & Checklist

Do you want to use an FHA mortgage to buy your next home? If so, you probably have a lot of questions about the FHA home loan process and what you need to do to be approved. It is important for perspective house buyers to know what the qualifications are to be approved for an… Read More »

4 Amazing Home Buyer Down Payment Grants

Buying your first home can be overwhelming in many ways. There are so many decisions to make an many people do not realize that there are home buying grants available in all 50 states. One of the most important of course is getting approved for a mortgage and saving up for a down payment. The… Read More »

15 Year vs 30 Year Loan Differences Which is Best?

The current mortgage rates are still very low, with a 30 year fixed mortgage hovering in the 4% range and 15 year fixed mortgages at 3.625% (3.855% APR). With rates this low, many people are thinking about either buying a new home or refinancing. 15 Year Mortgage vs 30 Year Loans A 15 year mortgage… Read More »

Arizona First Time Home Buyer Programs

Arizona is one of the fastest-growing states in the U.S., growing by nearly 2% between 2017 and 2018 alone. In fact, Arizona had the fourth-largest growth rate in the country in that same time, and the state has seen its population expand by nearly 7% since 2014, which is also one of the highest rates… Read More »

Home Inspection Tips for First Time House Buyers

First time buyers who put a contract on a house are doing something very exciting. It is your first home, and you are about to take part in the American dream! But as soon as you submit the contract, you should order a home inspection. A home inspection is essential to ensure that the home… Read More »

Helpful Tips for First Time Home Buyers

More and more renters are considering home-ownership. Banks and mortgage lending companies have announced new finance options for first time home buyers. In many instances, the guidelines have been loosened and the credit rules have been eased. This year appears to be a great year for consumers to stop renting and make the plunge to… Read More »

4 Vital Questions to Ask a Loan Officer Before Signing

Working well with your mortgage loan officer is critical to your home ownership dreams. He or she is the one that can make your mortgage a reality or deny the application outright. So, it is essential to have good communication with your loan officer from the start and before you sign mortgage disclosures. But many… Read More »

List of Key Tax Breaks for Homeowners

Owning a home can be a bit of a double-edged sword. Sure, it comes with a great sense of security and achievement. After all, you don’t have to pay rent or worry about getting in touch with a landlord before making updates and cosmetic changes. However, it also comes with one big drawback due to… Read More »

Requirements to Finance & Buy a Second Home

Do you want to buy a second home? You probably have many questions about how to finance a 2nd-home. Whether you want to buy a second home for vacations or as an investment property, getting financing for this type of property comes with some challenges that you should be aware of. This article will explain… Read More »