Mortgage
It’s common for friends and family members to offer inaccurate credit tips. Here is a list of popular mistakes. Don’t do these things: Don’t Pay Off Collections or “Charge-Offs”. If you want to pay off old accounts, do it through escrow, making sure that the debt is yours. Request a “letter of deletion” from the… [Read More]
Mortgages for Self Employed Self-employed Mortgages are not hard, provided you plan for it. The credit requirements are the same, the difference is how you declared income. Namely, is it on tax returns? Here is what you need: Need to be in Business Two Years: This is established through CPA Letter, 2 years of tax… [Read More]
VA Mortgages – 10 Key Facts Many Veterans Do Not Know More than 1.6 million Veterans and Service members live in Florida, but only about 6 percent of them bought a home using a VA home loan. Eligible Veterans often bypass the program as a viable option for a number of reasons. First, they may not… [Read More]
Understanding your credit and finances is crucial to buying a home. Although proximity and neighborhoods are important, understanding your key numbers that make up your financial picture is critical. This is not the most exciting part of the home-buying process, but it is the most crucial. Here are the 4 key numbers you need to know that will… [Read More]
USDA Mortgages are $0 Down USDA stands for United States Department of Agriculture. Originally, the program was designed to help families with moderate income buy rural housing. Or, homes in the country, far away from the city. Today, with urban sprawl, you can get a USDA mortgage close to work or other city life. Here… [Read More]
The average American has a FICO credit score of 700, but your credit score alone does not tell you much about where you stand in getting a mortgage. Going to a traditional bank, like Chase or Wells Fargo, you will need @ a 700 score to get approved for a conventional loan and 620 to… [Read More]
The simple answer is: which one gets you the mortgage for the house you want. Here are some key highlights: FHA FHA stands (Federal Housing Administration) loans are available to all borrowers and are guaranteed by the government. The mortgage is issued by the bank, not the government, but the government insures the loan against… [Read More]
Here are some key facts every First Time Homebuyer wants to know: If you have average credit, not too much debt, and 2 years of income, you are on your way to qualifying for a mortgage. Real estate and mortgage professionals are there to help you each step of the way. Realtors’ fees are paid… [Read More]
On VA Mortgage – here are some keys facts. VA mortgages are the best mortgage programs. The majority of veterans don’t know how easy it is to qualify. There are 1.5 million veterans in Florida. Disabled vets get an exemption (do not pay) real estate taxes. Many believe you apply to the VA: not so,… [Read More]
To get a mortgage, you need credit, money and a loan officer. Credit means 3 items: a credit score of 580 for a low down payment mortgage; current or open credit items such as credit cards or loans; no current credit = no mortgage; and, not terrible credit the last 2 years. This means no… [Read More]
