Prior to the introduction of the FHA mortgage program way back in 1934, lending guidelines were inconsistent. Prior to the FHA loan, banks could ask for 30 or 40 percent or more for a down payment. Buyers also had to have a standing relationship with the bank. Mortgage loans were issued for a relatively short […]
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Tennessee VA 100% Mortgage Qualifying Breakdown
If you’re one of those lucky Tennessee home buyers that is eligible for the VA home loan program, congratulations. Vets have access to one of the best mortgage options today, offering 100% financing with no mortgage insurance. If you’re eligible and want to know more about the VA loan program, here are some of the […]
Nashville Government Mortgage Offerings 2023
Nashville has many government-backed mortgage programs available today. There are three such programs available and they each serve a different audience. They are the FHA, VA and 100% USDA programs. Conventional loans are those that are issued and guaranteed by the individual lender approving the loan. There is no guarantee of any sort from any […]
Roanoke VA Mortgage Refinance Programs For 2023
Veterans in Roanoke have some great VA refinance options available in 2023. Depending on your current needs and equity situation, The VA IRRRL Streamline refinance or 100% VA cash-out could make sense. Let’s take a closer look below at both options available to homeowners in Virginia. VA IRRRL “Streamline” Refinance Mortgage A VA IRRRL loan […]
100% USDA Home Loans Naples & Collier County
USDA offers a great option for first-time homeowners in Naples Collier County seeking 100% financing. Buyers just don’t have many options today to purchase a home with NO money down. In fact, VA and USDA Rural Housing are the only government loan options that still allow Naples buyers to purchase a home with $0 cash […]
Beyond Interest Rates, What Buyers Should Look For in a Mortgage?
Getting your financing lined up when starting the home buying process is one of the first things that should be done by any homebuyer. You can speak with a loan officer over the phone who can guide you through the process and even prequalify you over the telephone regarding how much you might be able […]
Conforming and FHA Loan Limits Increase For 2021
UPDATE: Please find the NEW 2023 CONFORMING LOAN LIMITS UPDATED HERE. Conforming and FHA loan limits are increasing for 2021. The higher mortgage limits will allow home buyers to qualify for more when needed. Below we will break down the latest 2021 loan limits. Please contact Coast2Coast Lending 7 days a week with questions by […]
New Conventional Refinance Fee Delayed Until December
Homeowners looking to refinance their conventional loan may be aware of a new refinancing fee to be imposed by the Federal Housing Finance Agency (FHFA). This fee was set to start in September, but will now be delayed. This is good news and provides a window of opportunity for many homeowners who still want to […]
Purchasing a House Within Your Income Range
Tired of renting? Did someone at work just buy a home and they can’t wait to close? Did you recently get bitten by the “home buying bug?” It happens at some point to all of us. Even if you’re not ready to buy your own home at least you’ve thought about it. But if you’re […]
Recent FHA Mortgage Changes – Impact to Buyers
The mortgage industry has been going through some rapid changes due to the impacts of COVID-19. We have witnessed extremely volatile interest rate movements, along with many loan program changes in recent weeks. In this post, we will discuss some recent FHA changes and there impact on buyers looking to purchase a home. FHA Credit […]
Tampa First Time Buyer Programs: Pros and Cons
Purchasing a home can be a little nerve-racking, especially for Tampa first time home buyers. Beyond all mortgage preparation, there are many different people involved in the process. This includes the lender, realtor, closing agent, appraiser, and the list goes on. Applying for a home loan and getting preapproved by a mortgage lender should be […]
VA Home Refinance St. Augustine
Veterans in Jacksonville & St. Augustine have some great VA refinance options available in 2020. Depending on your current needs and equity situation, The VA 100% Cash Out or IRRRL Streamline refinance could make sense. Mortgage interest rates recently reached new all-time low levels and now might be the perfect time for the homeowners still […]
Different Types of Adjustable Rate Mortgage Programs
There are many varieties of mortgage programs today, but all of them fall into one of two categories – fixed or adjustable. A fixed rate loan is pretty easy to figure out, it’s fixed for the life of the loan and will never change. A fixed rate loan is the more popular of the two, […]
VA Announces New Changes For Mortgages 2020
VA loans have long offered the best mortgage solutions for eligible Veterans, especially those putting little to no money down. The VA mortgage, along with UDSA Rural Housing remains the last government-insured loans that offer 100% financing. Low fix interest rates, no private mortgage insurance, and reduced closing costs are just a few of the […]
First Time Home Buyers and IRA Accounts
There are several first-time buyer programs. Many are state or locally sponsored in the form of grants or no-interest loans. A grant is essentially free money. For someone who qualifies for a grant, the funds are issued and as long as the borrowers keep the property for a specific period of time, say for at […]
Divorce, Separation and Real Estate
No one gets married with thoughts of ending the marriage at some stage later on. It’s a lifelong commitment to live happily ever after, for better or worse. But sometimes things get so bad it’s beyond “worse” and the couple decides to make some changes. When a married couple buys real estate together but later […]
Installment Debt, Revolving Debt and Qualifying for a Mortgage
One of the primary tasks a lender must perform is to determine affordability. A mortgage company must make a reasonable determination that the applicants will be able to afford the new mortgage payment along with associated property taxes and insurance. The mortgage includes both an amount to principal and interest. These four payments are referred […]
Using Zillow or Similar Site to Value Your Home? You May Be Selling Yourself Short
Zillow was introduced years ago and since then has become a major force in the real estate industry. Zillow isn’t a real estate company although the site shows millions of homes for sale and rent in all parts of the country. Instead, Zillow is a database and draws listings from multiple sources and works with […]
Mortgage Protection Insurance: Is It Worth It?
Have you heard this term? Maybe you got a letter in the mail from a company offering insurance to cover your mortgage? But why would you need mortgage insurance to cover your mortgage? There are a couple of reasons, one is to temporarily make your mortgage payments should you be unable to work and the […]
Why Are Discount Points Eligible for an Income Tax Deduction?
There are still several income tax deductions available to the everyday taxpayer. Several years ago, all sorts of interest, including credit card interest, was available as an income tax deduction. During the overhaul of the income tax code way back in 1986, several popular deductions were eliminated. We’ll talk about some of them but it’s […]