Mortgage
If you have average credit, not too much debt, and 2 years of income, you are on your way to qualifying for a mortgage. Everybody at one point was a First Time Home Buyer. Before I became a mortgage broker, I closed on 7 homes, and I had no idea what was going… [Read More]
Many homebuyers are routinely denied by a bank, and turn around and still get a good mortgage. That’s because the bank where you have your checking or auto loan, may not be the best bank for you to get a mortgage as they will not have programs that fit you. When you hear that you… [Read More]
The FHA Mortgage (Federal Housing Authority) is the traditional first time buyers program. The federal government simply insures for the bank the mortgage against a default. Loans are approved and issued by bank. It is offered by virtually every bank – with big differences in who gets approved. It makes a difference with whom… [Read More]
203K Rehab is the name use for fixer upper loan. You can purchase a home needing work and the bank pays for it. Example: The purchase price of a house is $100,000. You estimate it needs $10,000 in work. Your total loan amount is $110,000 less your down payment. 203Ks require a 3.5% down payment… [Read More]
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 are the highlights of… [Read More]
A mortgage if you are Self-Employed is not hard, provided you plan for it. The credit, property review, and everything else is the same as a wage earner. The difference is how you report income: namely, is it declared on tax returns or not? You need to be self-employed for 2 years. But how your income… [Read More]
To get a $0 Down VA mortgage, you need VA eligibility, credit, money, and a loan officer. VA Eligibility means you are currently active military or reserves with 6 months of services or are military (reserves) retires with a DD214. Credit means 3 items: a credit score of 500;… [Read More]
To get a home 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… [Read More]
To get a home 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… [Read More]
Becoming a property investor has become easier recently with many lenders now offering easy to get approved mortgages for investors, even first-time investors. To become a property investor you need Credit, money and a loan officer. Credit means A 620 FICO, no more than 1 mortgage late last 12 months, 2 years away from… [Read More]
