Avoiding FHA mortgage insurance can be tough, but it’s not impossible. When you apply for your first mortgage loan, you might be surprised to see all the additional fees and expenses. Suddenly the number you expected, the one you...
For most homebuyers across the country, a conventional loan is enough for their purchase. However, in high-market areas like San Diego, large sums of money are needed to purchase even a moderate home. After all, a million-dollar home in...
Living off of a limited income can be scary, but for many seniors, it's a daily reality. In many cases, social security, retirement savings, and pensions are simply not enough to pay for living expenses. One source of income...
One of the largest hurdles towards home ownership is the down payment. With tight budgets and high costs of living, it can be tough for hard-working people to save enough money to have a substantial down payment. With no down...
Understanding the details of mortgage qualification is crucial to long-term financial success. You don’t have to be a mortgage guru, but you do need to understand the various details that affect how you qualify. Recently, Fannie Mae made adjustments to...
One of the most important factors when seeking a loan is your debt-to-income ratio. Whether it’s car loans, mortgages, or business loans, lenders want to see a healthy ratio with less debt and more income. In most cases, the...
When we think of loan qualification, we think of credit scores, debt-to-income ratio, and annual salary totals from a steady career. We rarely think of the money locked in an Investment Retirement Account (IRA), 401(k), or Keogh retirement account. For...
With home prices on the rise, especially in markets like New York and San Francisco, it’s common for mortgage loan amounts to exceed the conforming and high balance conforming loan limits as set by regulation. These loan limits often...
If you are looking to purchase a manufactured home as your residence, you have many options available. Understanding the different organizations, as well as the eligibility requirements, can help you get the right loan for your specific needs. In the...
The residential mortgage industry has seemingly endless amounts of jargon and abbreviations. Here is what to expect from a home loan on a non-warrantable condo. When it comes to the purchase or refinance of a condominium, the most important terminology...