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, […]
The Asset Depletion Loan Program has a lot of benefits for homeowners who might not have regular income or employment but do have other assets such as a retirement fund or other property investments. If you’re looking to qualify for a great rate, keep reading to see if this loan program can benefit you. How […]
Did you know that the state of California has a special grant program designed to help homebuyers finance a primary residence while simultaneously allowing energy efficient grant that lets you “green up” the home? If you’re a first-time homebuyer or even if you’re not, and have enough funds for a 3.5% down payment plus some […]
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 […]
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 […]
Have you heard of an asset utilization loan? Not many have. Most mortgages issued today fall into two distinct categories, conventional and government-backed. Conventional loans include those approved using guidelines set forth by Fannie Mae and Freddie Mac while government-backed loans include VA, FHA and USDA programs. What is an Asset Utilization Loan? An asset […]
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 […]
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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