The 100% USDA Loan Program remains one of the top first-time buyer programs in Florida. After all, this special program does not require any down payment there are also no maximum loan amounts. This program has been around Nassau County for years but the popularity has risen in recent years. Why? Zero down loan programs […]
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Low Down Payment Home Loans Texas Teachers
Saving up money in order to buy a home can be a struggle sometimes. Especially for those just starting out or recently employed in the public sector such as police, firefighters, and teachers. However, in Texas there are programs designed for all first-time buyers that not only allow little or NO down payment but also have […]
FHA Streamline Refinance Program Georgia
Home owners in Georgia that currently have an FHA mortgage should take note of the FHA streamline refinance. Recent improvements to the FHA streamline refinance program means that not only is no appraisal required, but the closing costs for this new streamline refinance program has been dramatically reduced! The FHA streamline refinance program requires that the […]
Should First Time Buyers Use Adjustable Rate Mortgage?
Should first time buyers use an adjustable rate loan or a hybrid as their very first mortgage? “First timers” when starting out on their home buying journey can be somewhat surprised at all the decisions they must make. The biggest choice is whether or not they want to buy in the first place. Making the […]
Locking Interest Rate VA Loan
One thing that loan officers like to make clear as it relates to interest rates and VA loans is that any quoted rate isn’t official until the borrower specifically makes a direct request to lock in the rate. When buyers first begin researching information about VA loans and interest rate information they discover that rates […]
FHA Loan Terms: Which is Right for You?
You probably know the FHA loan program provided stability in the financial markets during the hardships of the Great Depression. By introducing loan guidelines that, if followed by banks, would carry a guarantee to the lender, banks felt more comfortable approving the loan. One of the main guidelines was the term of the loan, or […]
5 Reasons Why FHA Loans Get Turned Down
FHA loans are the most popular of the three government-backed home loan programs. The VA loan is a very attractive option for those who are eligible such as veterans and active duty personnel and the USDA loan has income limits and the property must be located in an approved area. The FHA loan does require […]
Difference Between Cash Out and Rate and Term Refinance
Mortgage companies have their fair share of loan terms for the different home refinance options. The most common are the cash-out refinance and rate and term. What are the differences between the two terms and why should it matter? Let’s take a closer look at refinancing and what makes one and what makes the other. […]
First Time Buyers? What To Expect
If you’re on the brink of buying your very first home, most any homeowner today will tell you it’s the fastest 30 days you’ve ever experienced. Why? one of the main reasons is there are a lot of “firsts” going on and third parties you’ve never heard of all working on your loan file. But […]
FHA Home Loan Process Explained
FHA loans are one of three government-backed loans that come with some level of guarantee to the lender issuing the loan. With the FHA program, should the loan ever go into default the lender is compensated for the loss. This guarantee comes in the form of two separate mortgage insurance policies that accompany the loan, […]
Top Things Buyers Should Know About FHA Loans
FHA remains a popular choice for home buyers in Florida, especially first time buyers. In regards to home mortgages, very careful steps have to be taken and each one considered in-depth since we are dealing with a commitment that will last for many years. Being overly anxious to acquire a home and finally getting it […]
Should First Time Buyers Choose Fixed Rate Or ARM?
This is one of the questions most first time buyers ask but perhaps they’re really not sure why one might be better than the other. Mortgage lenders offer a variety of loan programs from government-backed loans such as USDA, VA and FHA loans to conventional mortgages underwritten to guidelines set forth by Freddie Mac and […]
FHA Loans Plant City, Florida
In 1934, Congress introduced the National Housing Act which established universal lending guidelines banks could follow. These new guidelines formed the Federal Housing Administration which set forth lending guidelines banks could follow. The FHA loan has since become the loan of choice for those buying in Plant City, Florida who prefer a loan program that […]