Posted on March 18, 2019by Staff Writer in Summary
If you are a home owner and have been paying your mortgage faithfully for awhile, chances are you may have some decent home equity accumulated. And if your home has appreciated in value, you could have quite a bit more…
Posted on March 14, 2019by Staff Writer in Summary
When looking for a mortgage, it’s a mistake to simply go with the first lender you meet. Instead, you should meet with at least three mortgage lenders, and come prepared to ask questions. Ask what types of loans they offer:…
Posted on March 11, 2019by Staff Writer in Summary
Mortgages, the word itself is scary enough but when you don’t understand what each one means, you could find yourself in a financial disaster. In a new article written for Realtor.com, Margaret Heidenry provides and in-depth look at reverse mortgages.…
Posted on March 07, 2019by Staff Writer in Summary
VA loans aren’t generally as strict about your debt ratios as many conventions loan programs are. Ideally, your total Debt To Income (DTI) ratio should not be above 41 percent, but even if it is, the VA accounts for compensating…
Posted on March 04, 2019by Staff Writer in Summary
A mortgage is a loan that allows you to pay for a house without having hundreds of thousands of dollars on hand. A mortgage has a down payment which is the portion of the house that you are paying for…
Posted on February 28, 2019by Staff Writer in Summary
When applying for a loan that is sponsored by the VA, applicants can typically expect an amount that is about 25% of the anticipated loan. If it is an amount that is under $144,000, they may give up to 40%,…
Posted on February 25, 2019by Staff Writer in Summary
Buying a house can be stressful enough, but without having your questions answered, it could be a lot worse. Are you able to pay more for a house than the appraised value? Should you? Would you even want to? This…
Posted on February 21, 2019by Staff Writer in Summary
The VA offers many different loan plans. You can make the best option for your situation. If you want to stay in the home for a long time, the fixed rate loan is a preferable choice. If you are planning…
Posted on February 18, 2019by Staff Writer in Summary
Your relationship with your mortgage lender does not end after your mortgage is secured. If you are getting the runaround from your lender, there are ways you can get straight answers. The law requires response from your lender within 30…
Posted on February 14, 2019by Staff Writer in Summary
Government backed mortgages have loan limits to limit the amount the mortgage can be. Each different government backed mortgage type has a different limit for the year 2019. An FHA loan has a limit based on the cost of living…