This guide covers home purchase without spouse on mortgage note. Many home buyers automatically assume that if someone is married then both people need to be on the mortgage loan. This is not true. If borrower and spouse are home buyers, both can be on the title on the new home purchase. A home buyer…
This guide covers owner-occupant home guidelines. Both HUD and Fannie Mae have strict guidelines when it comes to owner-occupant financing. First of all, HUD, the mother of FHA loans, only offers owner occupant mortgages. HUD does not offer second home financing or investment home financing with FHA loans. Fannie Mae offers owner-occupant loans, second home…
FHA Loans are the most popular mortgage programs today due to the many benefits it offers. There are thousands of mortgage loan applicants with great credit scores But due to the strict mortgage guidelines on conventional loans set by Fannie Mae and Freddie Mac cannot qualify for a residential mortgage Some of the hurdles conventional…
In this article, we will cover and discuss title insurance protection that is required by all mortgage lenders. We will cover what Title Insurance Protection is and why mortgage lenders require title insurance protection. Title Insurance Protection insures that the “record” title is good subject only to the exceptions expressly set out in the title…
This ARTICLE On Doctors Funding Group: Financing For Medical Professionals Was PUBLISHED On July 19th, 2018 Doctors Funding Group is a national direct lender for doctors, dentists, podiatrists, veterinarians, chiropractors, nurse practitioners, pharmacists, medical researchers, PhDs, and other healthcare workers. DFG offers specialty loan programs for members of the healthcare industry and understands the needs…
In this blog, we will cover and discuss buying second home mortgage lending guidelines. As winter comes to an end and June is not so far in the future, people start thinking of a possible 2nd home. In today’s market, the 2nd home in a well-traveled location could begin to pay for itself if marketed…
In this article, we will discuss and cover adjustable-rate mortgage interest rates. Let us help figure out what is best! And if an ARM, Adjustable-Rate Mortgage is what is needed, please read on. In this article, we will discuss and cover the benefits of ARMs versus fixed-rate mortgages. What Is Best To Use Adjustable-Rate Mortgage…
This guide covers multiple offers by homebuyers on purchases of listed homes. How do you tackle cases of multiple offers by homebuyers on purchases? The housing market is booming. Booming? This word is an understatement. Homebuyers new to the housing market need to realize the new norm. The new norm is paying more than the…
This guide covers owner-occupant homes versus non-owner properties. Financing owner-occupied homes offers the best interest rate, the lowest down payment requirement, a higher debt-to-income ratio, and the best mortgage terms out of all mortgage loan programs. Mortgage lenders view owner-occupied home financing loans as less risky than second-home and investment home mortgages. The reason is…
This guide covers qualifying for a mortgage by buying your first home purchase. Buying your first home purchase can be exciting and stressful, especially if you are a first-time home buyer. Those buying your first home purchase should take their time and do the proper due diligence in choosing their new home. The most important…
This Article Is About Home Buyers With Counter Offers On Real Estate Purchase The housing market has been booming for the past several years. Home prices have been increasing double digits for the past several years. Both HUD and the Federal Housing Finance Agency (FHFA) have been increasing FHA and Conforming Loan Limits for the…
This guide covers the IDHA down payment assistance mortgage program for first-time homebuyers. In today’s rising economy, many Americans need down payment assistance to buy their dream home. Many hard-working. Americans make good incomes and can easily afford a mortgage payment on an average $200,000 Illinois home purchase. However, many do not have the down…
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