Should I Get a FHA Loan or Conventional Mortgage?

Mortgages

Should I Get a FHA Loan or Conventional Mortgage?

Should I Get a FHA Loan or Conventional Mortgage?

Federal Housing Administration loans and conventional loans remain the most popular financing types for today’s mortgage borrowers. But which program makes the most financial sense for you? Here’s how to decide. The Nuts & Bolts of FHA Loans FHA loans are insured by the Federal Housing Administration. The program contains two forms of mortgage insurance;... Read More

The High Cost of Ignoring Today’s Low Mortgage Rates

Mortgages

The High Cost of Ignoring Today’s Low Mortgage Rates

The High Cost of Ignoring Today’s Low Mortgage Rates

It’s no secret interest rates are the main driver of the nation’s loan volume. In the first quarter of 2016, mortgage refinances were 23.5% higher than the same quarter the year before (an eight-year high for an opening quarter). First mortgages also were about 10.3% higher than the year before, thanks to continued low interest... Read More

How Not to Screw Up Your Mortgage Application

Mortgages

How Not to Screw Up Your Mortgage Application

How Not to Screw Up Your Mortgage Application

Although it might appear as though getting a mortgage is easier than it was a few years ago, thanks to technology, the process is still dicey. Industry insiders know the majority of loans do not close on time. But there are a few ways to smooth the process if you’re applying for one. Here’s what... Read More

Do You Need HARP to Refinance Your Mortgage?

Mortgages

Do You Need HARP to Refinance Your Mortgage?

Do You Need HARP to Refinance Your Mortgage?

Following the economic downturn, the government launched, and then revamped, the Home Affordable Refinance Program (HARP) to help homeowners who owed more on their mortgage than their home was worth. The program is still in play to this day, though it’s set to expire this December. If you’re thinking about using HARP to refinance, here’s... Read More

Can Rental Income Help Me Get a Mortgage?

Mortgages

Can Rental Income Help Me Get a Mortgage?

Can Rental Income Help Me Get a Mortgage?

You may not know this, but you can use projected rental income to qualify for a mortgage on a new property you’re looking to buy and lease out. Here’s how it works. Some mortgage companies will give you the benefit of fair-market rents when you purchase a property with the intention of renting it out.... Read More

3 Things You Absolutely Need for a Mortgage

Mortgages

3 Things You Absolutely Need for a Mortgage

3 Things You Absolutely Need for a Mortgage

If you’ve never bought a home before or it has been many years since your last mortgage transaction, you may want to freshen up on the basics before you head to the bank. To get you started, we’re going to go over three of the main things lenders look for when reviewing your mortgage application. 1.... Read More

Show Me More by Scott Sheldon

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