What Are Your Home Financing Options When You Have a Lower Credit Score?

Posted by Laine Smith on 3/15/17 9:05 AM

Credit scores are a huge part of the loan approval process. They not only determine your eligibility for home financing but can also determine what mortgage rate you will qualify for. But what if your credit score falls on the lower side of the spectrum?

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Don’t Miss Your Chance to Refinance: Take Advantage of the FHA Streamline

Posted by Laine Smith on 2/12/17 10:00 AM

If you’ve been keeping an eye on mortgage rates, you know that while they’re still low, they’re climbing. As refinance activity in the mortgage world has dropped to less than 50 percent, studies are showing that rising rates are removing millions of eligible borrowers from the refinance pool. Don’t miss your chance to lower your rate!

 

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Mortgage 101: Which Mortgage Is Right for You?

Posted by Laine Smith on 1/9/17 10:06 AM

Buying a home can come with an overwhelming amount of choices. What school district do you want to purchase in? Who should you choose for a real estate agent? How much can you afford to spend on your home purchase? Just like choosing a home style, there are several loan types and programs made to benefit a wide range of homebuyers.

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USDA Rural Development or FHA: Which Is the Best Mortgage Option for a First-Time Homebuyer?

Posted by Laine Smith on 10/17/16 2:33 PM

Today’s first-time homebuyers face a new set of homebuying hurdles. From saving for a down payment and closing costs to credit scores and debt, mortgage affordability is a key concern for many homebuyers. So today we’re reviewing pros and cons and costs and eligibility requirements associated with two affordable mortgage options: the USDA Rural Development and FHA loan.

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Buying Your First Home: Should You Save For a Down Payment or Pay Off Debt First?

Posted by Laine Smith on 10/16/16 10:54 AM

Many potential homebuyers cite existing debt or saving funds for a down payment as the biggest hurdles in their homebuying journey. But what if you have existing debt and a low balance in your savings account? Where do you start?

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First-Time Homebuyers: How to Conquer the 7 Biggest Homebuying & Financing Fears

Posted by Laine Smith on 7/31/16 12:40 PM

Hesitant of jumping into the homeownership circle? As with any large purchase, buying a home can be unnerving for someone who has limited knowledge of the homebuying and financing process. As the mortgage world is constantly changing, there are also several misconceptions about what it takes to buy a home.

Here's how to set some of those fears and misconceptions aside when thinking of buying a home.

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Millions of Homeowners Have the Opportunity to Refinance Their Mortgage

Posted by Laine Smith on 7/15/16 10:18 AM

Thanks to Brexit, mortgage rates have been holding near historic lows this month, which has sent many homeowners swarming to refinance into a lower rate. But according to a report from Black Knight Financial Services, more than seven million homeowners in the U.S. still have the opportunity to refinance.

In the first quarter of 2015, only 31,000 homeowners with FHA loans took advantage of the FHA Streamline Refinance Program. In the first quarter of 2016, that number skyrocketed to over 63,000 homeowners. So if you have an FHA loan and haven’t refinanced into a lower rate, what are you missing out on? 

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First-Time Homebuyers: Do You Have What It Takes to Get a Mortgage?

Posted by Laine Smith on 3/8/16 2:47 PM

Studies have shown that a lot of renters aren’t buying homes simply because they are misinformed or unaware of what it actually takes to get a mortgage. You don’t need a 20 percent down payment or an 800 credit score, but there are some things you do need to be eligible for financing. Here are five things to keep in mind when you decide you want to buy a home.

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Time to Refinance Your FHA Loan? Take Advantage of the FHA Streamline

Posted by Laine Smith on 3/7/16 2:02 PM

As mortgage rates have approached historical lows again, if you haven’t taken advantage of refinancing your FHA loan, there is no time like the present. The FHA is the largest insurer of residential mortgages in the world and has helped nearly 5 million families achieve homeownership since the 1930’s. Here’s how the FHA Streamline Refinance helps make the refinancing process simple and makes homeownership even more affordable for borrowers.

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12 Acronyms You Might Hear During the Mortgage Process & What They Mean

Posted by Laine Smith on 3/6/16 6:08 PM

Buying and financing a home, especially your first home, can be confusing when you’re new to the mortgage process and all of the lingo that comes with it. Knowing what these acronyms mean and how they affect your mortgage can make the experience less intimidating. Here are some common mortgage acronyms you might hear throughout your home financing journey.

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