For those who are in the medical or dental profession, getting a college degree takes time and money. And as college costs continue to rise, it costs more money than ever, often incurring student loans and debt. But there is a loan program designed for the medical and dental professional that takes into consideration student […]
Are you ready for HomeReady? Mortgage giant Fannie Mae hopes you are with the introduction of this new program announced in early 2017 . This loan program has relaxed lending guidelines and allows more people to qualify for a home loan. While the loan program is designed to help first-time home buyers overcome initial obstacles […]
Have you heard of the CalHFA loan program? Unless you’re an approved mortgage lender you probably haven’t. The CalHFA loan program was developed by the California Housing Finance Agency which oversees this special program designed to assist lower to middle-income buyers buy and finance their very own home. While many of CalHFA borrowers are first-time […]
The Interest-Only loan grew popular between 2004 to 2008, when a host of brand new loan programs were introduced to the marketplace. These new loans were not considered conventional and they weren’t government-backed but designed primarily for those who could not otherwise qualify for a traditional mortgage for any variety of reasons. Such loans were […]
Cross collateralization is the act of a lender securing more than one property in order to place a new loan. So what exactly does that mean? Cross Collateralization in Practice When mortgage lenders make loans they evaluate both the borrower as well as the property being financed. The borrower should have shown the willingness and […]
Do you want a really, really good deal on your next home purchase? The FHA Good Neighbor Next Door program could save you up to 50% off the sale price of your new home! If you find a house you’re interested in and it’s listed at $250,000 and your real estate agent negotiates the price […]
You’ve probably heard the term “bridge loan” in the past and maybe you’re one of those who have taken advantage of one. But if you’re not familiar with a bridge loan, what they are and what they’re used for, it’s really a very handy financial tool buyers use to help finance a property they have […]
We’re now well into the first quarter of 2017, and Mortgage Insurance Premiums (MIP) are changing for FHA Loans. We’ve seen a change of administrations as the new replaces the old and sometimes the replacement doesn’t seem all that enthusiastic about fading into the sunset. If you’ve applied for an FHA loan recently you’re probably […]
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