Just how many people in the U.S. are self-employed? Understanding the number of people in the United States who work independently can be a little tricky. With doctors, for example, you have a detailed process for becoming educated, licensed,...
Seller financing historically hasn’t been very common. When a property owner wants or needs to sell a home, the sellers typically want to get their proceeds at the settlement table rather than collect monthly payments from the buyers. However,...
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,...
As lenders are required by regulations set forth by the Consumer Financial Protection Bureau, or CFPB, to make sure a borrower can afford the new monthly mortgage payment. Plus a monthly installment amount for property taxes and insurance. This...
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...
Financing a Home Purchase With a HERO Lien or PACE Lien If you found this article during an online search, it’s very likely you, or the property you want to buy (or refinance), is in some sort of a financial...
The home loan process can be a challenging experience for the self employed borrower looking to purchase or refinance a home. Much of the confusion can be attributed to the calculation and documentation of income that a mortgage bank...
There is a loan program that’s somewhat under-utilized and it really shouldn’t be. It’s the USDA home loan program and while it’s not the home financing answer for everyone, for those who can take advantage of this special type...
  Did you do some research on your own to find out what the minimum credit score might be for an FHA loan? Or any other type of mortgage for that matter?The issue is lender overlay. You can find information...
The most common use of a Reverse Mortgage, also know as a Home Equity Conversion Mortgage (HECM), is to convert part of an existing home’s equity into cash. And for many eligible seniors 62 and older, a Reverse Mortgage is...