The housing market has seen some serious ups and downs in the last few years. It can look good or bad for anyone at any given time, but sometimes it doesn’t matter – you need a house! If you are in the market for a new home, then the timing might not be something you… Continue reading FHA Loans: The Basics
Author: glawvateam
The 5 Cs of Credit
5 C’s of Credit When applying for a home loan there are five things mortgage lenders looks at in evaluating your application. They are known as the 5 C’s of credit. Credit Profile This is generally measured by your credit score, payment history, & balances on accounts compared to credit limits. Capacity to Repay Employment… Continue reading The 5 Cs of Credit
Benefits of Owning a Home
It seems like owning a home makes sense. You get to design, add, subtract, and make it anything you want it to be. But, does owning a home make cents? (see what we did there?) As it turns out, owning a home does make financial sense, especially in the long term. Check out these 7… Continue reading Benefits of Owning a Home
8 FHA Loan Facts
FHA loans are popular with mortgage borrowers and brokers but why? First, FHA loans offer borrowers lower down payments and have less stringent requirements to be qualified. FHA loans are insured by the Federal Housing Administration (FHA). Borrowers are able to get FHA loans by paying for a mortgage insurance that protects lenders in case… Continue reading 8 FHA Loan Facts
FAQs
FHA LOANS – FAQ’s Can the seller pay my closing costs? Yes. The seller can pay up to 6% of your recurring & non-recurring closings costs. What is the FHA up front mortgage insurance premium (UFMIP) for? HUD requires two mortgage insurance policies on FHA loans to protect against losses in the event of a… Continue reading FAQs