Not every home buyer finds the home they want to spend the rest of their lives in. Many people decide that they prefer to build their own home. For most, this means loans for land, construction and a permanent mortgage. Understanding the requirements for new construction home loans is crucial.
Buying a home means making a significant financial commitment over a long period of time. Many new buyers turn to government guaranteed home loans. FHA and VA requirements have some common features but the differences must be understood for a loan application to be considered.
If you’re in the military, there are many banks and lenders offering what they call the best loans possible for active duty military members. Are these loan offerings the best out there or are conventional loans just as good? Jean Scheid takes a look.
When reviewing a loan application, lenders have a predetermined set of factors that will impact their final decision. Factors include the credit-worthiness of the borrower, work history and income. However, another factor that weighs heavily on the lender is the amount of money borrowed.
Any time you make a financial decision, you must weigh the pros and cons. For reverse mortgages, pros & cons can make a very big difference in your decision. Take the time to learn more about them before you make this important financial decision.
Can bankruptcy stop foreclosure? The answer depends on what type of bankruptcy you file. Filing Chapter 13 can help you stop the foreclosure process and save your home, but you may want to look into alternatives first.
Does your property deed say something like, Dee Doth Down from the Queen of Spain, etc., or do you see the words “land trust” anywhere on home documents? These trusts are a way to secure land and taxes and keep land in family, but if you own property with a land trust, you could be in for trouble.
Qualifications for VA home loan guarantees are less stringent than those for other traditional loans. Those with an understanding of FICO scores and VA loans will be able to determine ahead of time what challenges they may face applying for a VA loan.
If you are looking to sell your home soon, you are probably asking yourself the question: what is the percent to sell a house through a Realtor? You should know that a Realtor’s commission can be negotiated.
To understand the definition of mortgage fraud, one has to understand the numerous parties and documents required to apply for a mortgage. Fraud is broadly defined as an intentional deception made for personal gain. Fannie Mae mortgage fraud may involve one or more parties including lenders.