Buying a fixer-upper can be a fast way to get into a great home that is selling below market value and build home equity fast. But buying a home that needs a lot of repairs and remodeling can also be a money pit with whole lot of stress. If you want to dive into a […]
Refinancing your mortgage is nothing more than replacing an existing home loan with another. Why refinance? Most homeowners refinance their mortgage because rates have fallen below the interest rate on their current mortgage. Lowering Your Mortgage Rate Each week, Freddie Mac comes out with its weekly mortgage rate survey which reports an average rate culled […]
Impound accounts, sometimes referred to as Escrow accounts in other parts of the country, are funds set aside to take care of property taxes and insurance when due. Some loans require impound accounts while others leave them as an option. Let’s take a further look at these accounts and what they accomplish. Impound Accounts Explained […]
Deciding on which home loan to take is usually a matter of choosing an interest rate. But for those who have never financed a home before, there are many more things to decide on besides the rate. You might be surprised at the array of loan choices available to you, including short-term loans and long-term […]
The FHA home loan program is by far the most popular financing option for first time buyers. Why? First, the low down payment is very attractive. FHA loans only need a down payment of just 3.5% of the sales price of the home. Second, qualifying for an FHA loan is a bit easier as credit […]
If you’re not familiar with the term “wholesale lending” in the mortgage industry, you’re not alone. If you have heard the term, it’s easy to misinterpret its meaning. “Wholesale” might imply universal or overall but that’s not the definition. Wholesale lending plays a crucial part in the mortgage business and I’ll explain why. What is […]
The Federal Housing Administration’s home loan program is one of the three government-backed loans and is also the most popular. The other two government-backed loans are the VA and USDA programs. The FHA loan is also the favorite for first-time homebuyers. There are several reasons for this popularity but primarily the minimum down payment is […]
The Federal Housing Administration’s housing finance programs, most commonly referred to as FHA home loans, provides lenders guidance regarding how to evaluate and approve an FHA loan application. FHA loans are one of three government-backed programs that carry some degree of lender compensation should a guaranteed loan ever go into default. With FHA programs, the […]
Surely the ideal loan program for those looking to come to their closing with as little cash as possible is the VA loan. There are only a couple of government-backed mortgages that do not require a down payment and the VA program is one of them. The other is the USDA mortgage but that is […]
Jumbo Loans are a type of home loan with a purchase amount that exceeds local conforming loan limits. Jumbo loans are approved in much the same manner as most any other loan program. There are some basic differences and we’ll review them for you but overall, it’s a very similar process. Jumbo loans typically ask […]
Sign up to receive the latest from C2 Financial Home Loans
