Back in the 1990’s qualifying for a mortgage is much like it is today - in 2014 and most likely how will continue to be in 2015 and beyond. The process is also much the same. Mortgage Qualification Process Call a mortgage loan officer - lender - bank Go over what you want to do with your loan officer Discuss your … [Read more...] about Qualifying for a Mortgage in 2014 – Has anything really changed?
Loan Program Information
Technically speaking you can possibly buy a house with no credit scores, but you will have to have some credit accounts to ensure that you have sound and satisfactory bill paying habits. FHA home loan requirements for credit scores and credit allow for the situation that you do not have a credit score or even a credit report … [Read more...] about Can I Qualify to Buy A Home With No Credit Scores?
In many respects the game of shopping for a mortgage to buy a house, or refinancing your mortgage hasn't changed all that much since the real estate and mortgage crisis of 2007. The process is still something like - call a few mortgage loan officers, or talk to your real estate agent and have them refer you to their lenders - … [Read more...] about Mortgage Questions To Ask When Shopping For A Mortgage
One very important thing to know when you are starting out with getting your first mortgage as a first time home buyer is what is a regular mortgage and what is an adjustable rate mortgage. Once you know what each one is, you then can decide which one is better for you and your family's needs. No one can really answer for you … [Read more...] about Regular Mortgage or ARM – Adjustable Rate Mortgage – Which One Is Better?
A conventional mortgage can be thought of in a couple of different ways. First, conventional mortgages are mortgages offered by Fannie Mae and Freddie Mac versus FHA, VA and the USDA. Second, conventional mortgages in general have fixed interest rates. Typically, conventional mortgages are capped at a loan amount based on the … [Read more...] about Conventional Mortgage – What Is A Conventional Mortgage?
The United States Department of Agriculture (USDA) has created a program which delivers guaranteed home loans intended to help out individuals or families afford a home in a rural area that qualifies under the program guidelines. How does one go about qualifying for one of the USDA loans? Just like with any other loan, the main … [Read more...] about Income and Credit Eligibility for USDA Home Loans