If you are thinking of buying a home, you probably need a mortgage. In order to get a mortgage, you’ll need to have the proper qualifications. It’s important to understand that once you qualify for a mortgage, it’s not ‘in the bag.’ You still have to tread carefully until you actually sign on the dotted line and take possession of the home. Looking for Current Mortgage Interest Rates? Click Here. Keep reading to learn the most common … [Read more...]

USDA loans offer 100% financing to low to moderate-income families that live in rural areas. This can be a great way for you to get a loan, but there’s a catch. The USDA has the final say in whether you get the loan approval. This means your paperwork must be in order and current in order for the USDA to process your loan. Looking for Current Mortgage Interest Rates? Click Here. Just what paperwork do you need for the USDA loan? Keep … [Read more...]

There are many myths that surround the USDA Guaranteed Loan, one of which is that you must be a low-income borrower. In reality, you can make as much as 115% of the average income for your area and still qualify. In many areas, this means $78,200. However, it can mean as much as $202,250 in some areas. Looking for Current Mortgage Interest Rates? Click Here. The USDA breaks income categories down into three categories: Very … [Read more...]

After the housing crisis, the government worked hard to make sure borrowers were more informed about a potential mortgage. A part of the new guidelines is the TILA-RESPA Integrated Disclosure Rule, otherwise known as TRID. It has been in effect since 2015, and helps borrowers feel empowered when taking out a mortgage. Get Matched with a Lender, Click Here. Keep reading to learn how TRID affects you. The Know Before you Owe … [Read more...]

USDA loans are a great solution for low to moderate-income families that live in a rural area. The USDA loan allows 100% financing, making it possible to purchase a home with no money down. The USDA has flexible guidelines, except when it comes to the debt ratio. The USDA wants to make sure that you are not a high risk of default. If you have student loan debt, this can complicate matters even further. Looking for Current Mortgage … [Read more...]

USDA loans help rural homebuyers purchase a home with no money down. They are a great way to help potential homebuyers purchase a home much faster than they could with any other loan program that requires a down payment. Looking for Current Mortgage Interest Rates? Click Here. There’s one major difference with USDA loans that other government-backed loan programs don’t have though. The USDA has the final say in whether the loan gets … [Read more...]

If you are in debt, you may be looking for a quick fix to get you out of it. While that is understandable, you should know the parameters of what you are doing before you take action. Debt consolidation and debt settlement are both great ways to get yourself out of debt, but they both have different consequences. Looking for Current Mortgage Interest Rates? Click Here. Keep reading to learn the differences between the two to determine … [Read more...]

Your ability to score a mortgage, even a USDA mortgage, depends on many factors including your credit and debt ratio. But beyond those numbers, lenders often have to look at things like your job history too. What they want to see is that you are a stable and reliable employee. They don’t want to give a loan to someone that changes jobs frequently or worse yet, has gaps in their employment often. Looking for Current Mortgage Interest … [Read more...]

If you have a bad credit history, but have since improved things for yourself, you may wonder if your bad credit history will still affect your chances to get a mortgage. Unfortunately, the ‘bad stuff’ never goes away. It will always be a part of your history for potential lenders to see should they decide to look. How long will that bad history affect your chances of getting a loan? Looking for Current Mortgage Interest Rates? Click … [Read more...]