Tag Archives: Home buyer information

  • buying a home while on deployment

    VA Loans: Can I Still Buy a Home While on Deployment?

    You don’t have to put off your dream of owning a house until returning from overseas as a military service member. While it’s not the most common scenario, it’s completely possible to use your VA loan while you're on deployment. This could happen if you find yourself starting the homebuying process shortly before a deployment, [...] More  →
  • Flood Insurance 101: What You Need To Know

    Do you have flood insurance? FEMA (Federal Emergency Management Agency) notes that “floods are the most common natural disaster in the United States… There is a 26 percent chance of experiencing a flood during the life of a 30-year mortgage, compared to a four percent chance of fire.” You don’t have to be directly on [...] More  →
  • Pre Approval vs. Pre Qualification: Which is better?

    Imagine that you’re ready to buy a home, so you reach out to your local mortgage guy (let’s call him Mort the Mortgage Guy) to see how much you can qualify for. After a few questions about your income, monthly debts, and approximate credit score, Mort proudly announces that he can pre qualify you for [...] More  →
  • Rent to Own Homes: How A Lease With Option Purchase Contract Works

    Financing rent to own homes is a popular topic. Not only does this include how to enter a rental lease with option to purchase contract, but also how to convert the rental to ownership with a mortgage. For one reason or another, people are choosing rent to own as the path to home ownership. Usually, [...] More  →
  • credit report dispute

    Mortgage Lending Guidelines Have Caught Onto Credit Repair Dispute Strategies

    In the credit world, everyone has a number. Certainly, most know this number is called a credit score. Good or bad, it determines the outcome for many areas such as insurance rates, employment, and of course, buying a home. Since high credit scores are so important in today's world, many turn to credit repair as [...] More  →
  • VA Construction Permanent Loans Help Veterans Build a Custom Home

    Finding a construction loan is very difficult today and almost impossible to find over 75 – 80% of the value, but finding 100% financing for building a new home is really tough. Luckily, there is the option of VA construction permanent loans. This is a combination of a construction loan along with a VA permanent closing. Therefore, …

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  • Site Requirements To Know Before Using A USDA Loan

    USDA will not allow a property to have income producing buildings or farmland. You would think that The US Department of Agriculture would be okay with this, but they are not for their Rural Development program. Here are the USDA site requirements to consider when planning to apply for a USDA loan. USDA Site Requirements …

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  • Fannie Mae Now Excludes Revolving Debts Paid at Closing From Debt Ratios

    For the last few years, even if a person pays off credit cards or lines of credit at closing or before, the payments must be still included in their debt to income ratio. Effective immediately, Fannie Mae will now exclude paid off revolving debts from a borrower’s debt ratio. This can make a huge difference …

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  • Property Types Allowed for Reverse Mortgages

    A Reverse Mortgage can be a great financial tool in today’s 62 and older population, allowing seniors to live a well deserved, comfortable life in the home they choose. When choosing the home to be financed with a reverse mortgage, there are restrictions on which type of homes could be financed. Eligible Property Types for …

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  • Reverse Mortgage Myths and Facts

    If you mention reverse mortgages to someone, you will find some outdated beliefs or just erroneous information. To clear up the reverse mortgage myths out there, here are some of the most common misconceptions and more importantly, the facts: MYTH: The bank owns the home. FACT: Just like other mortgages, the owner remains on the …

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