The Federal Housing Administration or FHA is an extremely important department within the Department of Housing and Urban Development. It is credited with righting the economic ship of this nation back in 1934 during the throes of the Great...
The mortgage market is certainly complex at times as there are so many functions required to approve a loan. The mortgage company must order services and reports from these entities just to get to the loan approval stage. Once a...
In one of the most watched political developments in recent memory is the decision by British voters to leave the European Union. This “exit” narrowly passed and the EU is still deciding what to do next. What the impact of Brexit...
There are two primary sources of mortgage money in today’s marketplace- conventional and government backed loans. Conventional loans are those underwritten to standards issued by mortgage giants Fannie Mae and Freddie Mac. By far making up the largest share...
If you’ve ever gone completely through the mortgage process you know full well there are rules that lenders must follow. From federal compliance to following lending procedures, it sometimes seems a lender’s series of questions will never end. There...
Future homebuyers are certainly aware they’ll need to have some sort of a down payment when obtaining a home loan. Unless they’re VA eligible or buying a qualifying property in a rural area using a USDA mortgage, there will...
When you make an offer on a home, it’s not always just about the price. That’s certainly one of the most important facets but there are other features that can have an impact, such as a non-contingent offer. Having already applied...
When lenders receive a loan application they actually begin the process of issuing two separate approvals, not just one. If either doesn’t meet the standards the loan won’t be approved. These two approvals involve the borrowers and the property....
VA loans are hands-down the best choice for those who qualify wanting a low cost, no down payment financing with competitive rates. It’s a benefit reserved for the select few who have served or are serving in the Armed...
Buying and financing a condo unit is not all that different compared to financing any other type of residential property. Mortgage lenders must still evaluate the loan application and determine the buyers have the ability to repay the debt...