My Blog
Can Overtime Earnings Help Me Qualify For A Mortgage?
Overtime Income and Your Mortgage: Decoding Fannie Mae and Freddie Mac Guidelines Planning to buy a home and rely on overtime income to beef up your qualifying amount? It's crucial to understand how mortgage giants Fannie Mae and Freddie Mac view this extra cash....
Is Now a Good Time to Buy Your First Home?
Buying your first home is a big deal – it's exciting, but also a little scary. One of the biggest questions right now is: is it a good time to buy? With mortgage rates higher than they've been in a while, it's natural to wonder if it's better to wait and see if things...
What Is An Assumable Mortgage?
Navigating the World of Assumable Mortgages: A Homebuyer's Guide When it comes to buying a home, the financial aspects can be as complex as they are critical. One option that might not be on every buyer's radar is the assumable mortgage. This financial tool can be a...
Mortgage Rates Decreasing
Mortgage rates have been on a bit of a roller coaster this year, and if you're trying to keep track without getting lost in the jargon, you're not alone. Let's break it down into plain speak. First off, mortgage rates started the year on the high side, but they've...
What Is A Non-QM Loan?
Great question! A non-qualified mortgage (non-QM) is a type of home loan that is designed to help home buyers who cannot meet the strict criteria of a traditional (or QM) mortgage. For instance, if you are self-employed or do not have all the necessary documentation...
Can I Buy A Home With Zero Down If I’m Not A Veteran?
Definitely with our 0% down payment program! Our exclusive 0% Down Purchase is a down payment assistance program. The purchase is financed with an 97% FHA 1st mortgage and a 3% 2nd mortgage loan up to $15,000 from our lender. Borrowers will have no required monthly...
Can A Senior Buy A Home With A Reverse Mortgage?
Certainly! - **What's a Reverse Mortgage?** A reverse mortgage, specifically a Home Equity Conversion Mortgage (HECM) for Purchase, lets seniors 62 or older buy a new home by using the loan proceeds from the reverse mortgage. - **HECM vs. Traditional Mortgage: Unlike...
What Is A Temporary Rate Buydown?
Great question! Buying down the rate can lower the rate permanently (for the entire life of the loan) or temporarily, for the first year or two. Let's explore temporary rate buydown options. A 2/1 mortgage rate buydown is a type of financing arrangement that...
What Is A VA Renovation Loan?
Let’s explore the pros and cons of a VA renovation mortgage for veterans. Pros: Low-Cost Financing: VA renovation loans are VA loans, which means they come with several benefits, including low interest rates, 0% down payment, and no mortgage insurance12. Single Loan...
Zero Downpayment FHA Purchase Program
But FHA requires 3.5% down David? Yes - but with this program the lender will finance the 3.5% down as a 2nd mortgage under their Downpayment Assistance Program (DAP). There are some caveats and conditions and. small print of course: No debt to income ratio max No...