Will I Qualify for a Mortgage on Part-Time Income Alone?
I only work part time but want to buy a home – will I qualify for a mortgage on part time income alone?
In today’s economy, many people make their income by working one or more part-time jobs versus a traditional full-time 9-5 job. While there are some assumptions made that...
FHA Cuts Mortgage Insurance Premiums
The Federal Housing Authority, or FHA, cut the annual mortgage insurance premium interest rate by .25% for FHA borrowers who closed on their new homes on or after January 27, 2016, making now a great time to buy and save in the process!
What are FHA-backed loans?
The FHA does not...
Can You Use Your VA Entitlement While On Active Duty?
VA mortgage loans are loans which are offered by the US Department of Veterans Affairs and backed by the United States federal government. They offer an array of benefits and mortgage options to veterans, active duty service members and a select group of other individuals connected to...
Using Holiday Cash as a Down Payment?
Many families like to gift cash at Christmas, especially to those close family members who anticipate having a large expense upcoming in the new year, like a wedding, a vacation or a home purchase. Still others gift cash because it’s easy and loved by all. If you are thinking about...
What is a Reverse Mortgage?
A reverse mortgage, also known as home equity conversion mortgage, is a very different loan product than a traditional mortgage, used to purchase a home. In fact, reverse mortgages are for homeowners – not those looking to purchase a home.
Reverse mortgages function...
Calculating Your Total Monthly Mortgage Payment
In many areas of the country you can purchase a home and pay less for your monthly mortgage than you might pay for rent – however, when looking at mortgage calculators online, be careful that the monthly mortgage payment you’re looking at is the complete picture of all...
3 Strategies to Beat an "All Cash" Offer
As the housing market across the country continues to rebound, many areas have become “seller’s markets” – a market in which there are more buyers than there are homes for sale and where sellers are more likely to have their choice of buyer and to be able to...
All About ARM Mortgage Loans - Should You Get One?
There are many mortgage products available on the market today, which is great for buyers who now have more than one option for purchasing a home. There are your traditional 15-year or 30-year fixed rate mortgage loans (which are often just called conventional mortgages), adjustable...
How to Increase Your Credit Score By 100 Points Or More - Quickly!
If you are looking to buy a home in the near future, you know that credit matters. While you can get approved for a mortgage with a credit score below 600, the best terms and lowest interest rates are likely to go to those home buyers with scores above 700. So if you’re in the low 600 range...
All About Jumbo Loans
In many areas of the country you can find a great single family home for less than $250,000. In other areas of the country, that’s what you’ll need for a down payment on the home of your dreams. In those areas where the cost of living, and the cost of housing, is higher than...