Adjustable-Rate Mortgage: ARM yourself with knowledge

Adjustable Rate Mortgage

Once thought of as the agile, exuberant cheerleader of home loans, the adjustable rate mortgage (ARM) accounted for as many as one in four mortgages in 2006. A few years later, when ARMs became branded one of the risky, greed-filled indulgences of the financial crisis, their number fell dramatically. Yet ARMs have seen a recent uptick in popularity, but with a much clearer view of what they really are and who can benefit from their flexibility. Read More

Home Equity Loans: Tapping your home’s value

Home Equity Loans

If you would like to get a fixed amount of cash for some of the equity in your house, a home equity loan is an option worth considering. A home equity loan, sometimes known as a second mortgage, is a loan you take in addition your original mortgage that provides cash for some of the equity you have built up. Home equity loans are usually issued for a fixed amount for a fixed term at a fixed interest rate. Read More

VA Loans: 3 Well Deserved Benefits For Veterans

VA Loans

If you are active or retired military, serious benefits may be available to you through the Department of Veterans Affairs home loan program. VA loans are designed to help active military personnel, veterans and certain spouses of veterans obtain very favorable mortgages, and they arguably offer the best mortgage benefits available today. Read More

USDA Loans: Buy a home with no down payment.

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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FHA eases wait period after Bankruptcy and Foreclosure

FHA Loan Back to Work Program

The Federal Housing Administration recently announced that it will soon be easier for borrowers with bankruptcy, foreclosure or a short sale in their past to qualify for an FHA loan. On August 15th, HUD released a mortgagee letter outlining new requirements for applicants who have experienced an “economic event” in their past that they have since recovered from. Read More

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