How Do Down Payment Assistance Programs Work?

by mylenderjackie | Nov 7, 2019 | Loan Programs

Down payment assistance programs were created to make homebuying more affordable but how exactly do they work? Nearly half of Americans say the down payment is the hardest part of buying a home. There are a lot of low down payment options such as VA loans and FHA, but...

Is it Better to Get a 10, 15, 20 or 30-Year Mortgage?

by mylenderjackie | Oct 29, 2019 | Refinance Your Home Loan, Loan Programs

Is it Better to Get a 10, 15, 20 or 30-Year Mortgage? There are so many options out there for homebuyers when it comes to a mortgage. Not only are there different options when it comes to the loan itself such as an FHA, USDA, conventional or VA, but the terms of the...

Is a 20% Down Payment Really the Best?

by mylenderjackie | Oct 14, 2019 | Loan Programs

A common question for home buyers is how much should they put down on a house? But it really depends on the buyer, current financial situations, and credit history. Not every situation works for every mortgage option. If you’re a buyer with a lot of money saved...

Home Loans for Fixer Uppers – 203K Loan

by mylenderjackie | Jul 22, 2019 | Loan Programs

If you are considering buying a home that needs a little bit of TLC, an FHA 203K loan might be the best option. An FHA 203K loan also sometimes referred to as a re-help loan or construction loan, allows the borrower to finance two major items in one, the house itself,...

VA Loan Limits Eliminated

by mylenderjackie | Jul 8, 2019 | Loan Programs

The National Association of Realtors and the Department of Veterans Affairs have recently eliminated the conforming loan limit on a VA loan. The Blue Water Navy Vietnam Veterans Act now allows homebuyers to borrow above the 2019 limit of $484,350 without any down...

What Are Some Low Down Payment Mortgage Options?

by mylenderjackie | May 6, 2019 | Loan Programs

For first-time homebuyers or those with not a lot of down payment, you might be looking for options for a mortgage. Are there options that provide either zero or low down payment alternatives? If you can’t come up with a 10% or 20% down payment, as most...