Purchasing a home is likely one of the biggest financial decisions you’ll ever make. And for many, obtaining a mortgage to finance the purchase can be a complicated process filled with paperwork and waiting This is why VA loan assumptions have become an attractive option for eligible homebuyers By assuming an existing VA loan from … Read more
When you apply for a mortgage, the lender will check your monthly income to make sure you can afford to make regular house payments. Freelancers, business owners, and other independent contractors are considered “self-employed.” Their income is determined by profit-and-loss statements, 1099s, and tax returns. Fortunately, that won’t exclude you from getting a mortgage. It’s … Read more
Whether youre a first-time homebuyer, moving to a new home, or want to refinance your existing conventional or FHA mortgage, the FHA loan program will let you purchase a home with a low down payment and flexible guidelines.580 Credit Score- and only -3.5% Down RELATED ARTICLES FHA loan limits were established to define how much … Read more
Buying a new home is an exciting experience However, it also comes with its fair share of challenges, especially when it comes to financing One common question homebuyers have is whether they can get a mortgage loan for more than the purchase price of the home. The short answer is yes, you can borrow more … Read more
Building your own home can feel like a dream come true. It allows you the flexibility to create the home you want in a location of your choosing. Moving forward with a new build is a big decision and a big commitment. With a single close construction loan, we simplify the process for you with … Read more
If you own your own business and you’ve had a mortgage lender ask for a mortgage comfort letter from your CPA? You need to proceed cautiously. The reason? Often, these letters ask your CPA or CPA firm to either break state accountancy law. Or require your CPA to violate professional standards. Are you self-employed or … Read more
The 50-year mortgage first appeared in southern California, where housing was becoming increasingly costly, and people were looking for new ways to reduce their monthly mortgage payments. Except for the extra two decades to pay off the loan, it works the same as a 30-year fixed mortgage. The advantage of a 50-year mortgage is the … Read more
Do you know your debt-to-income ratio? Learn more about your DTI ratio, from how it works to how you can use it to your advantage in your next purchase. Between credit scores, interest rate percentages, and auto loan term lengths, buying a car incorporates several types of numerical amounts. The term “debt-to-income ratio” represents another … Read more
An earnest money deposit is a deposit of good faith on a home loan from a buyer to a seller. Including an earnest money deposit with your offer is a part of the VA home loan process and serves to protect VA buyers and sellers in a real estate transaction. Learn how earnest money might … Read more
Purchasing a home is a major financial undertaking, and it can be especially daunting for elderly parents who are on a fixed income. As children, we want to ensure our parents have a comfortable place to live out their golden years. Thankfully, there are special mortgage programs that provide financing options for seniors looking to … Read more