Having a responsible credit history is one of the key components we use when reviewing a loan application. Traditional guidelines for VA home loan approvals mean having established a credit history with a minimum of three trade lines appearing on the report. This is a common requirement for most all loan programs including conventional and […]
It’s been said you can find two economists who have totally different views based upon the very same set of data. From the Conference Board to Forbes to Goldman-Sachs just to name a few, but they all view the coming year a little bit differently. How so? Here are three views to cover the economic […]
When someone is eligible for a VA home loan, they’re one of the select few fortunate enough to qualify. VA Home Loans are part of a special loan program that is earned through service to our country and helps veterans and active-duty personnel as well buy a home with no money down, restricted closing costs, […]
It used to be that when someone applied for a conventional loan, the down payment required could be as much as 20 or even 30 percent or more. That kept many buyers away from homeownership simply because they couldn’t save up enough for a down payment. Private mortgage insurance began as a way to make […]
Most every mortgage loan issued today is a loan lenders refer to as a Qualified Mortgage Loan (or QM). When the Consumer Financial Protection Bureau, or CFPB, was created one of the first set of guidelines issued was to establish common sense, universal lending requirements mortgage companies could follow when processing and approving a mortgage […]
It’s very possible you’re not familiar with a special loan program overseen by the United States Department of Agriculture, or the USDA Home Loan. And that’s a shame because most mortgage companies don’t pay much attention to it and instead suggest other loan programs. However, when properly used, there really isn’t a better home loan […]
The Delayed Purchase Program (also referred to as the Delayed Finance Program) is a unique program that you might not have heard about before. So what exactly is it and how does it work? The benefits might surprise you. How it Works In most any real estate market, when a seller sees an all-cash offer, […]
Some recent good news came out recently that took effect last July. Fannie Mae, the largest purchaser of residential home loans announced their new policy addressing debt-to-income ratios. Now, the new debt ratio guideline tops out at 50, up from 45. Debt-to-Income Ratios Explained To interpret those numbers, a debt-to-income ratio, or debt ratio, compares […]
Are you looking at a property where the seller is open to a leasehold option? Perhaps someone has mentioned this type of ownership to you in the past but you’re not quite clear on the concept? If so, you’re not alone. Buying and financing a leasehold estate property does take a bit of explanation but […]
Have you ever thought about harvesting your own grapes or starting your own winery? What about planting a family orchard to reap apples, pears or oranges? Buying a home in a rural or semi-rural setting with plans to use the acreage for a hobby farm is more common than you might think. When it comes […]
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