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Mortgage
Through the years, the FHA loan program has helped potential buyers achieve their goal of home ownership with reasonable mortgage rates, low down payment and relaxed credit requirements.
The FHA 203k Rehab loan follows all of these guidelines but not only allows for the purchase of a home it allows for the rehab and/or customization of the new home.
203K Full, Mortgage
Below are a few key points to keep in mind now that the construction piece of your FHA 203k loan in Texas has begun. We realize a lot of information has been presented to you so now we will highlight some of the key things to remember.
Mortgage
A mortgage is generally the largest debt most homeowners have to manage. It’s a good idea to give your personal real estate finance portfolio a check-up at least once a year.
Mortgage, Mortgage Qualifying
Although every situation is unique, it is not uncommon for homebuyers to qualify for a mortgage on a new home while still living in their primary residence.
203K Full, Mortgage, Mortgage Programs
When doing an FHA 203k Rehab Loan anywhere in the nation there are a couple of things to consider. First of all the property maybe in poor condition and some repairs maybe required…such as foundation or roof repairs. Secondly there are the cosmetic upgrades that aren’t necessarily required but that will make the home more to your liking and these changes can add great value to the home.
Mortgage
Of critical importance when considering mortgage financing: There is sometimes a difference between what a client ***can*** borrow and what they ***should*** borrow
Mortgage
As some of you may have heard HUD has officially announced their intention to make the following changes to the FHA loan program in Texas: Lower the Up Front MIP from 2.25% to 1% AND
Increase the Annual (monthly) MIP From .50 – .55% to .85 – .90% depending on LTV.
Mortgage
When a buyer makes an offer to buy residential real estate, he/she generally signs a contract and pays a sum acceptable to the seller by way of earnest money.
Mortgage
While there are several biased sources that can make arguments for or against owning a home, we’ve found that most home buyers base their ultimate decision on emotion.
Mortgage
The appraiser actually already has a good idea of the property’s value by the time they have scheduled an appointment to stop by the property.
Credit, Mortgage
As part of the new CARD Act of 2009, companies advertising free credit reports in Texas are now required to clearly disclose that what’s being marketed isn’t the free credit report you’re entitled to receive by law.
Mortgage Qualifying, Videos
Since mortgage rates can change several times a day, the following questions will help determine whether or not your lender truly knows what to look for so that they can provide you with the best rate once you’re in a position of locking in your loan:
Mortgage
While many experienced real estate agents have a general understanding of the mortgage approval process, there are a few important details that frequently get overlooked which may cause a purchase to be delayed or denied.
Mortgage, VA Mortgage
VA mortgage loans can be refinanced much like a traditional conventional loan allowing the home owner to take advantage of lower interest rates that can ultimately save a substantial amount of money by lowering your monthly payment.
Mortgage, VA Mortgage
Purchasing a home using your VA benefits is an amazing way to get into a new home with no down payment requried and a great interest rate.
Mortgage, Mortgage Qualifying
Simple, the underwriter pulls an updated credit report to verify that there hasn’t been any new activity since original approval was issued, and the new findings kill the loan.
Mortgage, VA Mortgage
Honorably discharged veterans during World War II and later are eligible for VA loan benefits. Veterans with at least 90 days of service and who served during : World War II to Korean conflict and Vietnam era are eligible. Serving during peacetime would require 180+ days of active service. Since about 1980 though the requirement has moved to 2 yrs of service in most cases.
Mortgage, VA Mortgage
A VA (Veterans Administration) guaranteed home loan is one of the only loan program available that offers 100% financing of the purchase of the property. Another great beniefit is there is no monthly mortgage insurance. Individuals that qualify for this program are active, non-active, Reserve, National Guard, and retired military of the armed forces.
Mortgage
By including title insurance when purchasing property, your title insurer takes on accountability for legal expenses to defend your property title, should it ever be challenged.
Mortgage
Mortgage Insurance is a very important part of every FHA loan since a loan that only requires a 3.5% down payment is generally viewed by lenders as a risky proposition.
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