New Changes to FHA Could Save Buyers Thousands
The FHA (Federal Housing Administration) made some serious changes that went into effect October 4, 2016. These new rules will affect borrowers by potentially saving them thousands but there are some downsides to the new rules. Borrowers are likely to save thousands...Are Interest Rates Higher for Condominiums?
If you’re in the real estate market you might be considering a condominium or townhouse over a single-family house in order to save some money, but are you really saving any money by purchasing a condo when it comes to interest rates and additional fees?...How Long Will a Bankruptcy or Foreclosure Keep Me From Buying a Home?
This is a common question for many potential homebuyers: how long will a bankruptcy keep them from buying a home or how long after a foreclosure can a borrower apply for a home loan? Both of these situations are very unique and different in and of themselves. A...Refinancing After Mortgage Modification
Refinancing after a mortgage modification is something we get asked about quite frequently. Those that have had a modification to their mortgage have usually done so because they’ve proven to the lender they’ve gone through a financial hardship and can no...
Can I Still Buy a Home With Bad Credit?
Bad credit. It can follow you around for years, even after you’ve done everything possible to correct certain mistakes, errors, or even lapses in judgment. We’ve all done it! Put something on credit when we know we should have held off or missed a payment...The 4 Biggest Refinance Questions
You’ve heard about refinancing, you’ve seen Joe and Mary down the street pull out $20,000 for a kitchen remodel, which you know they didn’t have in the bank and you’re wondering if refinancing is a good option for you? As a loan officer,...What is the HomeReady™ Program and Do I Qualify?
We’ve been hearing a lot of talk lately about Fannie Mae’s HomeReady™ Program but what is it and how can it work for you? This program is designed for today’s homebuyers. It is designed for creditworthy, low to moderate income borrowers. This program...Foreclosure or Short Sale- What is Worse For Your Credit Score
Since the economy took a downturn in 2008/2009 there are still a larger number of homeowners who are underwater on their home loans meaning they owe more on their mortgage than their home is currently worth. This has lead homeowners to wonder what will happen to their...When Does Refinancing Make Sense?
If you’re considering a refinance you’re probably doing your research beforehand, hence why you may have stumbled across this post. Refinancing a home loan can be a great idea for many reasons, pulling money out for remodels, lowering payments, or...
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