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… [Read More]
Mortgage Who’s Who
Here is a list of the Key Players in Buying a House: The Loan Officer can almost be likened to your lawyer who instead of representing you before a court, is representing you before a bank. There is a big difference in who the Loan Officer works for. A Loan Officer for… [Read More]
Mortgages: FHA vs CONVENTIONAL
FHA vs CONVENTIONAL: Which one is Right? 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,… [Read More]
The Best Mortgage Programs
Which mortgage program is the best? The answer is the one that you best qualify for a mortgage. The 2 best mortgage programs are VA and USDA mortgages because these are $0 down, no or very low private mortgage insurance, and low credit scores to qualify (500 for VA and 580 for USDA.) VA… [Read More]
What You Need For a Mortgage?
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]
Credit Scores Needed for Mortgage
Your credit score is 1 of 3 keys credit items a lender examines when you apply for a loan. The other 2 items are equally as important. These are your monthly debts on credit and your credit history. Example: you can have a 680 credit score, but not be eligible for a… [Read More]
$0 Down USDA Mortgages
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… [Read More]
Use Bank Statements to Qualify for Mortgage
For some homebuyers, especially self-employed, proving you can afford a mortgage may be hard if the tax returns do not show enough income. Now, you can use your bank statements deposits, personal or business, to qualify. This works for homebuyers that get paid via a 1099 (no taxes taken out) or are… [Read More]
Mortgages: FHA vs CONVENTIONAL
FHA vs CONVENTIONAL: Which one is Right? 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… [Read More]
Mortgages: FHA vs CONVENTIONAL
Which one is Right? 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,… [Read More]
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