In this post, we’ll review the terms and eligibility requirements for the Freddie Mac cash-out refinance loan in order to help borrowers determine whether this is a good option for their individual needs.
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The Freddie Mac HomePossible Mortgage combines flexible credit score requirements with an incredibly low down payment requirement of just 3%.
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Fannie Mae and Freddie Mac are two names that are constantly thrown around in the world of home finance, but what are they, really?
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A list of the top 5 Mortgage lenders for VA Loans in the state of Florida.
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One of the best home loan options when it comes to benefits are mortgages insured by the United States Department of Veteran’s Affairs.
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Both the FHA 203(K) loan and the Fannie Mae HomeStyle Renovation loan are top contenders for being the best possible loans for getting work done on a home without having to take out a second mortgage.
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There are a number of mortgage assistance programs that people use in more urban areas, but are there mortgage programs for homeowners in rural areas as well?
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Instead of getting a mortgage on a single-family dwelling, a condo might be more your speed.
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Getting a mortgage on a second home requires the same level of care as getting your first mortgage, if you want to find the best deal.
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A subprime mortgage is exactly what it sounds like, a mortgage with less favorable terms than a mainstream mortgage.
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If you’re smart and make wise decisions, you can use a subprime loan as a springboard to a conventional loan.
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While you’re not likely to hear lenders use the term “subprime loan” or “subprime mortgage” these days, you can still find loans that are most definitely subprime.
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If you’re looking to buy your first home, there are several options you can explore. You could write a huge check and buy the house outright, but if you’re like most people, you’ll probably need a mortgage. When it comes to borrowing money to buy a home, loans come in a variety of sizes and with a plethora of terms.
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If you’ve started looking for a home, there’s a good chance that you’ve heard about the 5/1 adjustable-rate mortgage (ARM). Though adjustable-rate mortgages were once the bane of Realtors and homeowners across the country, the loans have slowly started coming back en vogue. Just because they’re becoming a bit trendier these days doesn’t mean that you should run out and get one without knowing what you’re getting into, of course.
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Doctors get all the good stuff: highly communicable diseases, giant student loan debt, and around-the-clock work responsibilities. In seriousness, doctors are heroes -- and mortgage lenders have caught on that student loan debt can be incredibly crippling to doctors when it comes to obtaining a home loan.
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We all like to talk about how terrifying that a rise in interest rates can be for a potential borrower, but there’s something a lot more horrifying that we don’t usually talk about: mortgage paperwork. Yeah, I said it. All those piles of pulp, some in multiples, can really add up. That’s why when the idea of e-mortgages was first floated, Realtors, mortgage pros and closers were so very excited.
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Getting your first (or even your second or third) mortgage can be really stressful and confusing. There’s a lot of technical information to absorb in a very small window of time and sometimes that means you’ll miss some of the details. Most of the time, your banker will be happy to fill in the blanks for you, but what do you do if you have a lender who doesn’t have your best interest in mind?
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Being self-employed can be a really great situation for people who need more control over their work environments or who simply work better by themselves. For the most part, it’s just like working other jobs, except that you’re the one making the big decisions. Unfortunately, for a long time a lot of lenders didn’t see it that way -- instead, you were considered a high risk borrower.
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I keep a pretty close eye on economic data when it comes to housing and lending (kinda my job), but I’ve been especially eagle-eyed in the last couple of months as my husband and I are getting ready to get ready to buy a house in our adopted home of Dallas-Fort Worth, Texas. The market here is complex, so I don’t want to rush things, you know?
Of course you do.
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Mortgage insurance, also called PMI (or MIP, in the FHA program) protects banks when borrowers default on their loans. It’s not like homeowner’s insurance, which protects a borrower from theft and natural disasters.
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If you’re interested in getting an FHA mortgage loan to buy a home, you aren’t alone. Borrowers across the U.S. are intrigued by FHA loans for several reasons, including their incredibly low down payment requirements and the fact that you don’t need perfect credit to apply.
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Trying to predict what the real estate market is going to do is a bit like trying to nail a runny egg to a tree. Nevertheless, buyers are often asking real estate experts questions like “is it a good time to buy a house?” These market-related questions have as many answers as they have askers -- the industry as a whole is a slippery beast.
With this new and exciting column from Home.Loans, we’re going to tackle those animals, as well as help you understand the information that experts rely on to forecast trends. Let’s go!
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In part four of our “Different Types of Mortgages” series, we talked about home loans for refinancing, and home equity loan products. In the fifth and final part of our no-nonsense mortgage guide, we name a few more uncommon types of mortgages on the market.
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In part three of our “Different Types of Mortgages” series, we talked about conforming loans, jumbo loans, and super jumbo loans. Now, we’ll share some of the other types of mortgages that aren’t used for buying a residence -- from refinancing loans to home equity products.
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In part two of our “Different Types of Mortgages” series, we talked about government insured loans and conventional loans. The next category of mortgages is based on size: do you need a jumbo loan, or a conforming loan?
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In part one of our “Different Types of Mortgages” series, we talked about fixed and adjustable rate mortgages. The next important consideration when looking at your mortgage options is whether to go for a government-insured home loan, or a conventional one.
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When it comes to buying a home in 2018, the average American has more home loan options than ever before. Unfortunately, more choice isn’t always better. With many options come many questions, especially if you’re a first time home buyer and not a veteran of the mortgage game. Thats where our ultimate guide to mortgages comes in! Our 5 part series will delve into the nitty gritties of the many types of mortgages on the market.
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