First Time Home Buyers Knowledge Base
Here are 7 requirements that you need to meet to qualify for a USDA Home Loan. Property Location: USDA is a rural development loan, means the property has to be either in a rural area or sub-urban area with population less than 20,000 for major part.Citizenship or Residency Status: USDA requires …
Continue Reading about 7 Key Requirements You Need To Meet To Qualify For A USDA Loan
1. USDA Has Relatively Loose Credit Requirements Underwriting requirements requirements for USDA loan programs are not so strict compared to that of conventional mortgages. Loan seekers with FICO score 720 or above surely get the best possible rate, loan terms and mortgage insurance premiums but …
Continue Reading about 9 Key Differences Between USDA and Conventional Mortgages
Adjustable-rate mortgages are a relatively new development in the world of home loans. They are becoming increasingly popular as the economy recovers and companies begin to realize that consumers will accept a little loss now, rather than at a later date due to the uncertainty of inflation. …
A fixed-rate mortgage is the type of home loan that allows you to pay a set amount per month and not have to worry about ever increasing your interest rate. A fixed-rate mortgage will allow you to keep your monthly payments the same for the life of the loan. This is a good way to buy a home, as you …
The interest rate refinancing of a home mortgage will result in saving thousands of dollars on monthly mortgage payments. Refinancing is a cost-effective way to reduce monthly payments and improve the credit standing of an individual. Refinancing a home mortgage can be done with many different …
Continue Reading about Save Thousands of Dollars – Refinance Home Mortgages
When it comes to Jumbo Loans, refinance is a way to raise the amount of money you need for the short term for another project. Refinancing a mortgage on a property can be done in many ways and it's not always about taking out a new loan. It's about changing the loan terms and getting a different …
