Coming up with funds to close on a home purchase is perhaps the single greatest barrier first time home buyers face. At least there are still too many who believe that. Yet despite the easy access to information and an attempt by…
For some reason, the FHA mortgage program struggles to get past many misconceptions about this program which helps millions buy and finance their first home.
First introduced in 1934 to provide some semblance of stability in the untamed mortgage market, the FHA loan…
The History of Credit Scores
Over the years, credit scoring has matured into a required tool mortgage lenders use to quickly evaluate a credit application. Yet credit scoring isn’t necessarily a new invention.
Even before the three digit number became a staple in…
For those who qualify, there is no better mortgage option which requires no money down, reduced fees and no monthly mortgage insurance.VA Funding Fee...
On top of those stellar benefits, the VA actually guarantees a portion of a VA loan that goes…
We have to admit the mortgage industry has sort of made a mess as it relates to terminology.
While every industry has its own unique set of words, for example the term discount points.
Also used in the course of…
When home buyers begin to think of buying a home, there are some major considerations to make.
Certainly, the price range of the future property is important as well as getting comfortable with the projected monthly payments including not just the principal…
Closing costs associated with getting a mortgage is pretty much a given. There are closing costs from multiple parties beyond what your mortgage company may require. Your lender might have a loan processing fee and an underwriting fee among others. Your lender…
You’ve read here before about the sometimes confusing language lenders use on a daily basis. When financing a property you’ll encounter these terms and if your loan officer isn’t careful, will use them when communicating directly with you in “lender lingo” instead…
For those who qualify for this outstanding loan program and want to buy and finance a home with as little cash as possible, there is no better choice than the VA home loan.Here's how to get your VA certificate of eligibility.
VA loans…
Mortgages today are fully amortized. No more of this “negative amortization” stuff or “payment option” loan programs where mortgage loans would actually increase over time instead of being paid down. Thank goodness forbi-weekly mortgage payments.
When a mortgage company issues a loan…
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Chad Baker, CrossCountry Mortgage NMLS# 329451 | CCM NMLS# 3029