Low Down Payment Mortgage Programs

Low Down Payment Mortgage

The mortgage down payment is a barrier faced by first-time home buyers for generations. Even if you have steady employment and good credit scores, a large down payment can be much harder to achieve. Read More

0% Down Mortgage Options – No Money Down Mortgage Programs

0% Down Mortgage Loans

Zero down mortgage loans make it possible to purchase a home with little resources or cash on hand. All you really need to achieve homeownership with a 0% down mortgage is the ability to meet the loan requirements for the program. There are several popular no money down mortgage options available today, and a few others that are almost nothing down. Read More

USDA Loan Requirements | 2017

USDA Loan Requirements

USDA home loans are one of two zero down mortgage programs still available in America to buy a new home.  As with any mortgage, there are groups of specific requirements that must be met before an applicant is approved. Read More

USDA Loans

USDA Loans

In today’s housing market, those wanting to buy a home with no down payment have limited options. The 2008 financial crisis led to the rapid demise of subprime lending and a harsh tightening of mortgage credit. Fortunately, USDA RD loans are still running strong offering 100% financing with low mortgage rates for home purchases.

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Conventional Loans – Conventional Conforming Loan Programs

Conventional loans have been considered the garden variety mortgage program for over 80 years. The term ‘conventional loan’ is defined as any mortgage that isn’t guaranteed or insured by a government agency. Today’s conventional loans may be either “conforming” or “non-conforming”, although ‘conforming loan’ programs are often loosely referred to as ‘conventional loans’. Conventional conforming loans are conventional programs that meet or ‘conform’ to guidelines set forth by the Federal Housing Finance Agency (FHFA), as well as the funding criteria for either Fannie Mae and Freddie Mac.

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FHA Loans – 2017 FHA Loan Programs

FHA Loans

What is an FHA Loan?

An FHA loan is a mortgage program thats’s perfect for today’s first-time home buyers.  During the last decade, tightened housing regulations and poor wage growth have left many people feeling like owning a home is beyond their reach. More than ten million Americans can still hold on to their homeownership dreams thanks to flexible FHA loan requirements, which have helped over 40 million people achieve homeownership since 1934. Read More

Conventional Loan Requirements and Conventional Mortgage Guidelines | 2017

Conventional Loan Requirements

What is a Conventional Loan?

By definition, a conventional loan is any mortgage that’s not guaranteed or insured by the federal government. Conventional loans can be either “conforming” or “non-conforming”, although conventional loan requirements generally refer to the set of mortgage guidelines that ‘conform’ to the government sponsored enterprises (GSE’s) like Fannie Mae or Freddie Mac. Hence, when you hear someone talking about ‘conventional loans’, ‘conforming loans’ or ‘conventional conforming loans’, they’re likely referring to the same thing. Read More

FHA Loan Requirements Review | 2017

FHA Loan Requirements

FHA loans are a terrific option for home buyers with lower incomes, imperfect credit ratings or limited cash available for a down payment. In fact, FHA loan requirements feature a certain flexibility which makes them the only option available for millions of American mortgage applicants with “average” qualifications. That’s why FHA loans jumped in popularity after the 2008 financial crisis when subprime mortgage options were eliminated. Read More

Conforming Loan Limits are Conventional Loan Limits | 2017

Conventional Loan Limits

The Federal Housing Finance Agency (FHFA) recently announced that 2017 conventional loan limits would be raised to $424,100 for single-family homes.  This increase in these ‘conforming’ loan limits was the first since 2006. These limits may be exceeded if the property is located in a high-cost area. Read More

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