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Top Mortgage Resources

How To Find The Best Mortgage Lender. Pros And Cons Of FHA Loans. The FHA home loan is definitely a loan program to look at for cash strapped first time home buyers.

Pros And Cons Of FHA Loans

It is certainly not a program just for first time home buyers, it can also be used for refinances and move up or down buyers. Should you get an FHA loan or not when purchasing a home? What is an FHA Loan? An FHA home loan is one backed by the Federal Housing Authority or the FHA. What is a VA Mortgage? For those dear men and women that choose to serve the USA through military service, our country owes a great bit of gratitude.

What is a VA Mortgage?

One of the ways we show that gratitude is through the VA loan. Since 1944, qualifying veterans have used the benefit offered through the federal government to purchase a home and carve out their little spot in the world. The following information is intended as a guide to help you understand who is eligible for the VA loan and how it works.

Many people ask what is a VA Mortgage? Top 100 Mortgage Blogs In The World. Top 100 Mortgage blogs Best Mortgage Blogs List The Best Mortgage blogs from thousands of top Mortgage blogs in our index using search and social metrics.

Top 100 Mortgage Blogs In The World

Data will be refreshed once a week. These blogs are ranked based on following criteria Google reputation and Google search rankingInfluence and popularity on Facebook, twitter and other social media sitesQuality and consistency of posts.Feedspot’s editorial team and expert review. FHA 203k Requirements Wisconsin, Illinois, Minnesota & Florida. FHA 203k Loan Requirements and Guidelines The FHA 203k is a sister product to the FHA loan.

FHA 203k Requirements Wisconsin, Illinois, Minnesota & Florida

While the FHA loan is used to purchase or refinance a home, the 203k loan is used to buy an existing property and also make repairs, improvements or remodeling to the home. This loan basically allows the home buyer to borrow more money than the asking price and use the extra funds for the work on the home. FHA 203k Advantages People who locate a home in need of repair can now buy the home and finance the repair costs in one loan. How To Look For And Choose A Mortgage Lender.

Share on Facebook Share on Twitter You’re ready to take the plunge from being a renter to a homeowner.

How To Look For And Choose A Mortgage Lender

This transition is a new experience that’s full of challenges, from finding that perfect home to financing it. FHA Mortgage: First Time Home Buyer Information. How Much House Can I Afford? First Time Home Buyer. When the thought enters your head to buy your first home you are going to wonder “how much house can I afford?”

How Much House Can I Afford? First Time Home Buyer

This article will cover the basics so you can get a rough idea of how much of what a bank will lend you for your first home. At the end of the day, take the time to sit down and get a proper mortgage pre-approval letter from your lender. Fannie Mae HomeReady® Mortgage Program. Family Opportunity Mortgage. FHA Loans: What Are The Pros And Cons? How To Search For A Mortgage Lender. So, let me catch you up on what has been going on around here in the great house adventure.

How To Search For A Mortgage Lender

I’ve been doing some detecting on getting mortgages and it looks like I’ve finally got an ally in the “let’s be logical and know what we’re doing” battle. Holy mackerel, for an intelligent human Mallory just wasn’t doing well plotting her course. Get this, new house in the near future and she wanted to buy a new car. One slip in internet surfing, just one, she ends up on a new car website and my girl gets reeled in hook, line and sinker. (I did write an email to the auto company complimenting them on their marketing, but that’s really not the point.)

It was pretty clear that we had to deep dive into finding someone to help who had a good grasp of all of this before we got into hot water. I’ll admit, that has partially been my fault; when you’ve grown up with stories of loan sharks, it’s instinctive to stay out of those waters. Really, if we were going to do this it was time to fish or cut bait.

Preapproved for a Mortgage and Then Denied: Mistakes To Avoid. Fourteen Ways to Get Your Mortgage Unapproved Getting pre-approved for a mortgage is an exciting experience.

Preapproved for a Mortgage and Then Denied: Mistakes To Avoid

You now have the go-ahead to shop around and find the perfect home. But with all the excitement, it is important to remember that you do not have the money in your hand just yet. Some mistakes can be made that may jeopardize your mortgage approval. Illinois FHA Loan. The FHA mortgage is a great way for people to buy a home.

Illinois FHA Loan

Whether it is their first home or 6th home, getting an Illinois FHA loan makes it possible to achieve home ownership with several advantages. Illinois FHA Loans Offer Lenient Credit Requirements Generally speaking, the credit requirements for obtaining an FHA loan are less strict than the rules for a conventional loan. This allows people with limited credit history, or even some past blemishes, to qualify for a mortgage. While a conventional loan will often require a minimum credit score of 740 or higher to qualify, FHA loans are often approved with scores in the lower 600 range.

The most important aspect of a person’s credit history, in the eyes of FHA, are the most recent 12 months payment record. Income Documentation Since the FHA loan is guaranteed by the federal government, you can expect a fair share of documentation requirements. Your pay stubs from your employer. Primary Residence Only. Luxury Home Buying Guide: What To Expect When Getting A Mortgage. Purchasing a luxury home requires a slightly different approach than if one were buying a non-luxury home.

Luxury Home Buying Guide: What To Expect When Getting A Mortgage

Generally a luxury house is considered luxury because the price is higher than $500,000.00 and offers luxury amenities not commonly found in non-luxury homes. While the $500,000.00 is a general guideline that does not mean that amount applies the same to every area in classifying a home as luxury. In the Greater Cincinnati, Ohio and Northern Kentucky Real Estate Market homes $500,000.00 and above generally will be considered to be luxury homes. Other areas may be different based on the real estate market in those locations since real estate is all about location. WHEDA Mortgage Requirements. Back in the early 80’s, Wisconsin recognized the opportunity to help its citizens with home ownership opportunities by implementing specific unique mortgage programs. From this desire the Wisconsin Housing and Economic Development Authority (aka WHEDA) was created. Since its inception over 1,000 grants have been awarded, enabling people to find their own place to call home.

Common Denominator – Home Education Although WHEDA offers various programs, they all share a common requirement; home education. 12 Major Mortgage Mistakes To Avoid. What Are The Most Common Mortgage Mistakes Made By Home Buyers? 12 Mortgage Mistakes To Avoid When Buying A Home One of the most important steps in the home buying process is figuring out the financing. There are dozens of questions frequently asked about mortgages and the mortgage process. One topic that doesn’t get discussed enough when it comes to home financing are the common mortgage mistakes that are made. Avoid These No Down Payment Mortgage Mistakes. What Are The Advantages And Disadvantages Of A VA Mortgage? Should I Take Advantage Of VA Home Loans When Buying A Home? What Are The PROs & CONs Of VA Home Loans Veteran Affair home loans, commonly referred to as VA home loans, have always been a popular type of financing for military home buyers who may not have pristine credit scores or a ton of money to put towards closing costs and down payment.

VA loans can be a fantastic mortgage product for some, while for others they may not actually be the best fit. It’s critical that as you’re beginning the process of buying a home that you evaluate what type of mortgage is the best fit for you. This can be done by consulting with an experienced mortgage professional. How A Mortgage Pre-Approval Can Help A Home Buyer. Just as you would not go shopping for groceries without cash in your purse/wallet or without knowing you have available credit on your credit card you should also not got shopping for a home without knowing if you have been pre-approved or not for a mortgage.

Just as no one wants to go to the store and find out their credit card has been declined or that they are short on cash to purchase their items, viewing homes to purchase without knowing if you can afford it can also lead to great disappointment. Thinking that you can get a preapproval at any time with enough time to make an offer and you could end up losing out on a house you really like and/or realizing you may have never been able to get pre-approved for an amount to buy a particular house in the first place. Getting Your First Mortgage When Buying Your First Home. Home ownership is exciting. How A Mortgage Pre-Approval Can Help A Home Buyer. Get Your Pre-approval Letter First! Pay Off Mortgage Early: 7 Ways Homeowners can conquer the Debt.

[Estimated read time: 5 minutes] No Down Payment Mistakes To Avoid. PROs And CONs Of Buying A Home With A Small Down Payment. Reverse Mortgage Facts! Is a reverse mortgage right for you? There is a lot of talk about reverse mortgages and I get asked all the time what is a reverse mortgage? Reverse mortgages have gained a lot of attention because they are “glamorized” as having many benefits to senior homeowner. Untitled. Tips For Preparing To Get A Mortgage When Buying A Home.

FHA Mortgage Guidelines EVERY Home Buyer Should Know. The Federal Housing Authority (FHA) has experienced a big surge in business over the last few years as the overall real estate market has rebounded from the major recession. Navigating The Crazy World Of Lender’s Mortgage Overlays. What are Mortgage Lender Overlays? How to Buy a Home With $0, Zilch, Nada, Nothing DOWN. Buying Your Home With a VA Mortgage.

VA Mortgage 100% Financing - What about a Down Payment? The VA No-No Mortgage for Veterans: What You Need to Know. How to Avoid Overpaying For a Mortgage. FHA Mortgage Requirements and Guidelines. FHA 203k Mortgage Requirements and Guidelines. VA Mortgage Requirements and Guidelines. USDA Mortgage Requirements and Guidelines. What is a Mortgage Pre-Approval Vs Pre-Qualification? Jumbo Mortgage Myths That Are Holding You Back. 10 FHA Guidelines EVERY Home Buyer Should Know. How to Convert Your Primary Residence to a Rental Property.

Insane but True Facts About the USDA Mortgage. VA Mortgage: Debt Ratio & Residual Income. The HomeStyle Renovation Loan – A Great Alternative. Determine if Your Income Can be Approved for USDA Loan. To Escrow or Not to Escrow, That is The Question . . . Changes in FHA Reverse Mortgages Not as Bad as You Think. Recent FHA Guideline Changes and Highlights. Certain Homes Can DISQUALIFY Your Mortgage Pre-Approval.