From the outside looking in, getting a mortgage loan from application to the closing table looks fairly straightforward. You apply for a loan, submit it, the lender looks at it, approves it then orders closing papers. Once you submit your application, it gets pretty quiet on your end. But on the other end, there’s a […]
FHA Cash Out Refinance: What You Should Know
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 […]
Why Rent Payment History is So Important
If you’re thinking about buying your first home or maybe you have owned a home before but it’s been a while since you did, you’re going to wonder about how to qualify in today’s environment. There are different qualifying guidelines based upon things such as your income and employment, current monthly debt, having enough cash […]
All About FHA Cash Out Refinance Loans in 2020
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 […]
What, Exactly, Are USDA, VA and FHA Loan Guarantees?
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 to some degree by the government. It’s a government-guaranteed loan and there are three of them. The three are the VA, FHA and […]
Thinking of Buying? Ask Yourself These Three Questions
Let’s face it, there are some very real advantages of renting instead of owning. Most of those advantages are related to a change of scenery. When renting, you have a choice of where you want to live, what you want to pay each month for rent and how long you want your lease for. For […]
5 Questions First Time Buyers 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 […]
Why Lenders Ask for the Things They Do
Whether it’s applying online, meeting a loan officer face-to-face or having a conversation over the phone about a new home loan application, you’re provided with a list of things the lender will need to see before underwriting the file. Because mortgage lenders follow the same basic lending guidelines they all ask for the same basic […]
Looking For Mortgage or Refinancing Options?
Looking For Mortgage or Refinancing Options? When you have made the decision to purchase a home one of the major steps involved is obtaining financing. It is a good idea to consider financing options before you begin looking at homes. At C2 Financial, we can help you determine the best financing options available to meet […]
