One of the biggest myths in the mortgage industry is the belief that you need a nearly-perfect credit score to use a jumbo loan. But as we’ll show, minimum-credit-score jumbo loans are available.
The Myth: You Need a High Credit Score…
Assumable loans are a fairly simple concept: the new owner of the property, instead of taking out a new mortgage, simply “assumes” responsibility for the existing mortgage. They get the same interest rate, repayment period, loan balance, and all other terms included…
If you can’t find the right home, sometimes you just have to make it. Fortunately, there are construction loans that make building your own house more affordable and more convenient!
General Construction Loan Requirements for 2021
Although the specifics may…
In late January of 2021, the FHA made a formal announcement that individuals classified under the “Deferred Action for Childhood Arrivals” are legally permitted to receive mortgages supported by the FHA . Previously, this national benefit was in question, but as long…
2021 is here, and so are the 2021 loan limits.
If you are considering a new house in the coming year, you should learn about upcoming loan limits so you can purchase the best possible home.
Of course,…
Mortgage lingo is often expressed in acronyms. You don’t need to know them all, but this article reviews the ones that are more common or important.
The real estate and mortgage industries love acronyms. “APR,” “LTV,” “HELOC,” and countless others…
Is an FHA 203(k) loan right for your purchase? This article looks at a few common situations where people use this helpful program.
Sometime you find a house that would be perfect for you and your family…it just needs a few repairs. …
Thinking of purchasing a home during the coronavirus crisis? There are certainly advantages, but this article outlines some of the downsides you will want to consider.
Earlier this month, we wrote an article about the advantages of buying a home during the COVID-19…
A credit score is one of the most accurate ways for lenders of all types to gauge your reliability as a borrower, which is why a credit rescore can be so important. While a credit score may not be an accurate measurement…
The COVID-19 outbreak is impacting us all. For some, life has changed little, while for others life has changed significantly.
If you are taking leave from your job and currently unable to work, your mortgage can be a heavy financial…
In most cases, using an FHA loan is pretty straightforward. You (and possibly your spouse) apply for the loan, using your incomes and credit profiles to qualify for a single-family property. It’s fairly simply, as the people purchasing the house will also…