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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...
100% Financing For Rural Homes
Are you considering buying a rural home but not sure how to finance it? Look no further than the USDA rural financing program! This program is specifically designed to help individuals and families purchase homes in rural areas with low to moderate incomes. But before...
Buy A Home With A 1% Down Payment!
An Incredible Opportunity To Help With Home Affordability. It’s exciting when a loan product can help you can offer a Conventional 1% Down program - and we can! When income-qualified borrowers put 1% down, our lender pays an additional 2% toward the down payment, up...
What Is A Temporary Rate Buydown?
Great Question! A temporary rate buydown is a way to lower the interest rate on a mortgage for a short period of time, usually one to three years. This can make the monthly payments more affordable for the borrower, especially in the beginning of the loan term....
How Can I Get Free Copies Of My Credit Reports?
Great question! The easiest way to get a free copy of your credit reports is to visit www.annualcreditreport.com, the official website authorized by the federal government to provide free credit reports from the three major credit bureaus: Equifax, Experian and...