Taking out a loan is a big financial commitment. Thankfully most loans include a grace period – a set length of time after your payment is due where you can pay late with no penalties. Grace periods provide a valuable buffer as you get used to making payments on your new debt. In this comprehensive … Read more
Direct Mortgage Loans is excited to announce that eligible homebuyers can now take advantage of 100% FHA financing down payment assistance program, which means you can qualify for a FHA loan with no down payment required. To learn more about how this down payment assistance program works, including eligibility criteria and how to apply, keep … Read more
As a business owner, you know how important it is to invest in new growth opportunities. However, you don’t always have the cash on hand to make these investments. In this scenario, small business financing can be a lifesaver. If you’re looking for financing, you’ve probably considered taking out a term loan. Before committing to … Read more
VA loans offer unique benefits to eligible veterans active duty service members and surviving spouses. One of those benefits is loan assumability – the ability to transfer a VA loan to another borrower. This opens the door for non-veterans to assume a VA loan and take advantage of the program’s typically low interest rates and … Read more
Every month or two, Ill come across this question or a slight variation of it: “Can I qualify for a VA loan as a disabled veteran with bad credit?” Its a trickier question than it might first appear and we can break it down into two parts. One, does a disabled veteran qualify for a … Read more
Yes, you can pay off your FHA loan without a penalty for early pay off. HUD explains that a borrower may pre-pay an FHA mortgage in whole or in part and that the mortgage lender cant charge a penalty if you decide to do this. You can find this information in HUD 4155-2 (Chapter 3), … Read more
The VA loan allows for 100% financing for eligible borrowers. Active duty service members, veterans, and surviving spouses can apply for a VA loan with zero percent down. Of course, there are additional fees involved with home loans, such as closing costs. But, there are several benefits for disabled veterans that make the VA loan … Read more
Small business owners often assume that owning commercial property is unattainable because many conventional real estate loans require a 20-40% down payment. However, what if we were to tell you that there is a program specifically designed to help small businesses buy commercial property with a little as 10% down! The Small Business Administration (SBA) … Read more
If you have enough equity in your current home, you can use the money from a home equity loan to buy a second home. But it’s not always the best option. Suppose you own a home and can afford a worthwhile investment. You might consider purchasing a second property, which can generate additional income or … Read more
Getting approved for a mortgage is one of the most important steps in buying a home, and a mortgage commitment letter from your lender can make your offer stand out to a seller. It also lays out important information regarding the loan youâre approved for, and conditions that may need to be met before the … Read more