VA Eligibility Restoration: How It Works

There’s really no question the VA home loan is the premier option for those who are eligible and want to come to the closing table with as little cash as possible. In fact, the VA home loan doesn’t require a down payment at all. Zero. The only other loan program that doesn’t need any type […]

6 Things to Know About USDA Loans

There are two government-backed mortgage programs that do not require a down payment. The first one is the VA home loan program. The VA loan doesn’t require a down payment at all and available to those who are eligible. Those eligible include veterans, Armed Forces and National Guard members with at least six years of […]

You’ll Be Surprised Where the USDA Loan Program Can Be Used

The United States Department of Agriculture was created in order to improve the qualify of life in rural areas as well as provide a way for urban and suburban citizens to more easily finance homes in underpopulated areas. The USDA loan program allowed people to buy and finance a home with no down payment, creating […]

Applying for a Private Loan: How to Qualify

Qualifying for a private loan, sometimes referred to as a “hard money loan” might be easier than you think. Private loans are a critical part of the real estate industry. Without private lenders, many profitable opportunities would fall by the wayside as conventional lenders determine a particular project falls out of their lending guidelines. Private lenders […]

Are There Benefits to an Impound Account?

Impound accounts, also called escrow accounts in some parts of the country, are set-aside accounts used to pay property tax bills and insurance premiums when due. Each month when someone makes a mortgage payment and there is an impound account set up, 1/12th of the annual tax bill and 1/12th of the insurance premium are […]

What is a Guaranteed Loan: USDA, VA and FHA

Have you heard the term “guaranteed loan?” It’s possible, but it’s mortgage industry parlance that describes a specific feature of a mortgage program. There are three such programs and they’re all guaranteed loans to some degree by the government. It’s a government-guaranteed loan and there are three of them. The three are the VA, FHA […]

HUD, FHFA, FNMA, FHA, FHLMC: Who Are These People, Anyway?

HUD, FHFA, FNMA, FHA, FHLMC: Who Are These People? Well, they’re not really people. People certainly work there but in reality, HUD along with the others all government agencies that have some major connection with the mortgage industry. Some are relatively new and some not so much. The mortgage industry has so many acronyms it […]

USDA Approval: Basic Guidelines

The United States Department of Agriculture (USDA) oversees a home loan program designed to finance properties located in rural and semi-rural areas. These areas are so designated by the United States Census Bureau and identified after the general census is taken every 10 years. This program was originally introduced in 1935 with the introduction of […]

Why Portfolio Loans are Important

There is a term in the mortgage industry called “portfolio lending” and it’s a specific type of home loan program that caters to a particular situation. Portfolio loans are so important that without it the real estate industry would suffer. What is a portfolio loan? It’s a loan that does not fit into any secondary […]

5 Questions First-Time Homebuyers Need to Ask

Buying a first home is probably the biggest financial decision someone can make. For those who already own their own homes they can relate. It’s a process that can be explained upfront but until someone goes through it, experience is the ultimate teacher. Finding, buying and financing a home can be a rather drawn out […]