Mortgage
To get a mortgage, you need credit, money and a loan officer. What does “credit” mean? Credit means 3 things: a credit score, current or open credit items, and not terrible credit the last 1-2 years. Credit Score: you need to have a credit score to get a mortgage. A credit score is set by a… [Read More]
Getting a mortgage involves 3 costs: the down payment, closing costs and out of pockets before you close. The Down payment is the minimum you must pay. Only you can pay for this, from savings, paychecks, judgment awards, retirement withdrawal, or gift from a family member. The amount varies by loan program… [Read More]
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 know all the advantages. Second, they may think getting… [Read More]
This shows the differences in credit score and whether you are at the magic number 620 with homebuyers with the same salary – income. Because although you can still get a mortgage with a credit score under 620, or even below 580, it makes a difference how much you will get approved. Here,… [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]
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. The location of the property determines whether the home is USDA. Today, many parts of Manatee and Sarasota counties and most of… [Read More]
Becoming a property investor is easier than ever. For Non-Owner Occupied properties – there are No Income and No Job Requirements. 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, 3 years away from a bankruptcy,… [Read More]
Getting the lowest interest rate possible is everybody’s goal. On a $250,000 loan, a 0.25% difference in interest rate can save you $52/monthly, $625 yearly, or $6,240 over 10 years. Your mortgage rate is set by a combination of these factors: Credit Score – the higher your score, the lower the rate. This… [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. The location of the property determines whether the home is USDA. Today, many parts of Manatee and Sarasota counties and most of Lakewood… [Read More]
First. If you have terrible credit and 30% down – you can get a mortgage. Credit score is 1 of 3 keys credit items a lender examines. There are 2 items equally as important. These are monthly credit payments and credit history. For instance, you can have a 720 credit score, but not be eligible… [Read More]
