Are you looking to buy a home with a home loan but face challenges when it comes to providing proof of income? Are you self-employed and not receiving traditional pay stubs and W-2s? If this is the case, you may feel as though buying a home is out of reach. However, there is good news. …
Basic Guide to No Income Verification Mortgage 2023 Read More »
After going through bankruptcy, it may feel like you will never get yourself back on track, and purchasing a home is definitely out of the question. However, the fact is that it is possible to bounce back from bankruptcy and even qualify for a home mortgage if you follow the necessary steps. Here we will …
When homeowners look to reduce their monthly mortgage payment or plan to pay off a mortgage early, many turn to refinancing. While refinancing a mortgage does allow homeowners to take advantage of lower interest rates, not all borrowers are able to qualify for a mortgage refinance loan. If this is the case, a lesser-known option …
As a teacher, your years are often filled with many nights of sacrifice while you grade papers, as well as financial sacrifices as you purchase classroom supplies necessary for you to provide the best education possible to your children. These sacrifices can often leave you with credit that leaves a lot to be desired, making …
As a physician or healthcare worker, chances are you are familiar with one, if not both of these symbols. The caduceus and the Rod of Asclepius have both become known as symbols of medicine but what is the origin of these medical symbols and where did these medical symbols come from? Is one symbol a …
Caduceus and the Rod of Asclepius: Meaning Behind the Medical Symbols Read More »
As a government employee, you work to provide for your community, whether local or national. While working as a federal employee can be a rewarding career, it can also bring financial challenges when it comes to buying a home. Income limitations and frequent moves can make homeownership seem out of reach. The good news is …
Do Federal Employees Get Special Mortgage Rates? Read More »
When it comes to purchasing a home and getting a mortgage approved, your credit score provides lenders with an idea of how likely you are to repay your loan. But what is a good credit score to buy a house? This actually depends on a number of factors, including the type of loan you are …
If you are looking to buy your first home, chances are you have heard terms like “prequalification” and “preapproval,” but what do these terms really mean? What is the difference between prequalified and preapproved and what does it mean when you are shopping for your new home? Here we take a closer look at each …
Prequalified or Preapproved Mortgage: Which Is Better? Read More »
As you begin looking for your dream home, chances are you will have a real estate agent ask if you are prequalified for a mortgage. While you may not think about financing before even looking for a home, a mortgage prequalification can be a powerful tool to arm yourself with before you even take that …
What’s the Primary Benefit of Being Prequalified for a Mortgage? Read More »
When it comes to buying a first home, many people only think about traditional single-family homes. However, mobile or manufactured homes offer an alternative that, in some cases, actually provides more space and amenities for the listing price. But how do you buy a mobile home? Do you need to have land? Will you be …
When purchasing a new home, there are so many different things to consider. Not only are you looking for a home that fits all your needs, but you are making decisions on which loan features, such as fixed-rate or adjustable-rate, will work best for your needs. When making this decision, you must understand the differences …
When you purchase a home through a conventional mortgage, you make payments every month based on the principal amount of the loan and your loan terms. However, what happens if you make extra monthly payments or even a large lump sum payment during your loan period? When you make these extra payments, it drops the …
As a physician, dentist, or other licensed healthcare professional, buying a home can be a challenge despite being a high-income prospect. A high debt-to-income ratio due to school loans often becomes a roadblock when it comes to obtaining a home mortgage. For this reason, many lenders offer physician mortgage loans that often have fewer qualification …
8 Things You Should Know About Physician Mortgage and Its Rates Read More »
When buying a home, the average home buyer takes out a mortgage that typically requires good credit, a low debt-to-income ratio, and a down payment of around 20%. Unfortunately, as new physicians and despite high wages, many doctors are unable to meet the mortgage requirements due to high debt-to-income ratios. Because of this, many lenders …
If you are considering buying your first home, chances are you have been wondering how much money you will need as a down payment and how you will be able to save that money. For many first-time home buyers, this down payment often creates an obstacle to home ownership. But what if there was a …
First-Time Home Buyer Loans with Zero Down Payment Read More »
For veterans, VA loans offer an often zero-down mortgage option that helps create a path to home ownership. But before you start looking for your dream home, there are some things to consider in order to best determine how much house you can afford with a VA loan. How much mortgage can I afford with …
Jumbo mortgages are a great solution when you are purchasing a high-value home where the necessary financing exceeds the loan limits of conforming mortgages. In contrast to conforming mortgages that are often purchased by government agencies like Freddie Mac and Fannie Mae, jumbo loans are typically maintained directly by the lender and create a greater …
If your home is in need of repairs to make it more livable, such as improvements for energy efficiency or a new, more modern bathroom or kitchen, an FHA Title 1 loan is one option to help finance those repairs. While many borrowers opt for a home equity loan, an FHA Title 1 loan offers …
How Do I Qualify for an FHA Home Improvement Loan? Read More »
Whether you have an existing home that needs a new kitchen, or you have an eye on a new home with a low asking price but a lot of necessary home renovations before it is really livable, a home renovation loan can allow you to make the necessary home improvements without the cash upfront. These …
How to Get a Home Loan That Includes Renovation Costs? Read More »
Across the United States, home prices are surging. In order to keep pace with home inflation, the Federal Housing Administration is increasing the FHA loan limits for 2022. These new FHA 2022 loan limits will give borrowers access to a wider range of homes and achieve the goal of homeownership. What are the new FHA …
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