Many people are aware of the FHA changes that took place in April, which again increased mortgage insurance premiums. However, you may not be aware of the more recent changes that went into effect on … [Read more...]
FHA vs. Conventional Loan
What is the difference between an FHA (Federal Housing Administration) Loan and a Conventional Loan? Many people think of the FHA loan as the loan for "first-time homebuyers". In many cases, it is … [Read more...]
USDA Streamlined/Non Streamlined Refinance Programs
If you purchased your home with the USDA Rural Housing Program's 0% down payment home loan, it may be a great time to refinance. Many people are not aware that the USDA also offers home refinance … [Read more...]
Time to buy
From CNN Money Shawn Tully EDITOR AT LARGE,FORTUNE From his wide-rimmed cowboy hat to his roper boots, Mike Castleman fits moviedom's image of the lanky Texas rancher. On a … [Read more...]
Lenders May Require You to have Certain Types of Insurance on Your Home
Homeowner's Insurance Homeowner's insurance will always be required and must cover the replacement cost of the property. It should include coverage for damage due to fire, wind or other … [Read more...]
Credit Report Mistakes
Periodically checking your credit report and correcting any mistakes is important to have a high credit score. Errors on credit reports occur for many different reasons, such as wrong personal … [Read more...]
How’s Your FICO Score?
In today's increasingly automated society, it should come as no surprise that when you apply for a mortgage, your ability to pay can be reduced to a single number, your credit score. All the years … [Read more...]
How Do You “Buy” a Better Mortgage Interest Rate?
Purchasing a home will be one of the most significant financial decisions most will ever make. Therefore, shopping for the best mortgage rate and ways to reduce the monthly mortgage payment and … [Read more...]
Debt-to-Income Ratios
Debt-to-Income Ratio When applying for a loan you will often hear your mortgage adviser talk about your debt-to-income ratio. This is simply a comparison of your monthly obligations to your total … [Read more...]
What’s the Difference Between Pre-Qualification and Pre-Approval?
Once you begin to look for your new home, your Real estate agent will ask if you have been pre-qualified or pre-approved for a mortgage loan. Completing this process will put you in a better … [Read more...]