Zero Down Home Loans
In a large portion of the housing markets across the nation, the increase in housing prices does not match the areas average household income.
Many individuals are not capable of saving money for an adequate down payment for a house in....read more
First Time Home Buyer
When you’re in the market for a new home, you can be overwhelmed by the process. This is especially so if you’re a first time home buyer.
You may not know what to do, where to go and who talk to so that the entire....read more
Foreclosure Help
- Hardship Letter Samples
- How To Write Hardship Letters
- How to Write a Mortgage Hardship Letter
- Loan Modification
- Three Common Mistakes When Writing Financial Hardship Letters
- Deed In Lieu of Foreclosure
- Foreclosure Timeline
- Loan Forbearance
- 5 Secrets To Successful Short Sales
- Partial Claim
- How to Avoid or Stop Foreclosure Quick
- Foreclosure Fraud Schemes
First Time Home Buyer
- How Much House Can I Afford
- Closing Costs on a House
- Yield Spread Premium (YSP)
- Private Mortgage Insurance (PMI)
- Types of Different Mortgage Lenders
- What is Amortization?
- Guide to Rate Locks
- Buying A House Checklist
- Annual Percentage Rate
- Loan Application Checklist
- Home Owner Insurance: 10 Ways You Can Save Money
FHA Streamline Refinance
The FHA does permit streamline refinances on insured mortgages. The term "streamline" refers to the amount of documentation and underwriting that needs to be performed by the lender, and does not mean that there are no costs involved in the transaction.
The requirements for a FHA streamline refinance are:
Read more: FHA Streamlined RefinanceLoan Modification Information
Loan Modifications are used for homeowners who have incurred a permanent financial hardship and can not afford the repayment plan.
Large numbers of homeowners end up using a loan modification program in order to put a stop to the foreclosure process.
If you are currently able to make your normal mortgage payments, but you find yourself unable to catch up with the past-due amount.
Read more: Loan ModificationCredit Rating Guide
This credit rating guide guide will help you assist you in assessing your potential credit grade and what type of terms you can expect from a mortgage lender.
Keep in mind this is merely a generic guide as some mortgage lenders have different grading based upon their own process of valuation.
Read more: Credit Rating GuideLatest Mortgage News
Acquiring A Lower Mortgage Rate
There are a number of ways by which potential borrowers can succeed in getting their mortgage lenders to offer them lower rates on their mortgages.
These factors differ from each other due to the fact that, some can easily be controlled and manipulated by the potential borrower while others cannot.
Potential borrowers with a high credit score can negotiate with their mortgage providers in order to obtain very affordable mortgage rates but those whose credit scores are well below what is considered an average mark for those looking to acquire mortgage loans will have to settle for high interest rate mortgage loans.
Read more...Oh! I Misspelled My Name On My Loan Application Form
Many borrowers fill out mortgage application documents only to have to wait a longer than usual time to hear from the mortgage provider who is unwilling to grant the home loan.
As a borrower, it is necessary to find out from the mortgage company the reasons why your mortgage application has been denied. This will help prevent such an occurrence when the person decides to initiate a new mortgage loan process.
Usually, the common reasons behind the refusal of a mortgage company to grant a borrower’s request has to do with the financial conditions and the credit score of the borrower. These factors are not easily corrected.
Read more...What Can You Do When You Are Late On Mortgage Payment?
Getting a mortgage is something that seems to be on the minds of many people as they look to generate enough capital for the purchase of a family size unit or a luxurious home.
Borrowers may want to get the best deals when it comes to getting a mortgage. Potential borrowers would be looking at the average down payment required by the mortgage lender, the interest rate on the mortgage as well as the amount of money needed to settle the closing cost on the home loan.
While these factors are very essential in a borrower’s decision to get the best out of a mortgage company, no one really looks at the processes the mortgage lender would take the borrower through should the loan go into default.
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