When presented with an offer on a home that involve government-backed loans like VA loans, sellers can be hesitant. This is mostly because some people believe that VA loans make a deal harder to close. That may have been true at one point, but is far from the truth now. Still, these beliefs persist. So, if you’re an active duty military member or veteran using a VA loan to buy a house, you’ll need to make sure your offer is as strong as possible to be accepted. Here are some tips on purchasing a house with a VA loan and crafting a winning offer.
The cost to refinance a mortgage is not cheap. The process comes with a price, but refinancing your mortgage can be a great way to save money over the long haul. As they say, “No pain, no gain.” That pain largely comes in the form of closing costs and processing fees. Here’s a detailed look at the cost to refinance a mortgage and how you can save money at closing and after.
There are many reasons why you’d want to refinance your home. Maybe you want to pay off your home faster. Or use part of the equity you’ve built up to fund some home improvement projects. Maybe interest rates have gone down since you bought your home and you’re just looking to lower your monthly mortgage payment and save some money. Whatever the case may be, you’re going to need a solid plan to accomplish your goal. Here’s how to refinance your home and save money in the process.
What does a mortgage loan officer do? Simply put, a mortgage loan officer will gather and review their clients’ financial information and documentation to determine if their client is eligible for a mortgage home loan. They are required to follow all federal and state lending regulations during their evaluation process in determining eligibility. Do they take mortgage loan officer training? Is it required to have a mortgage loan officer license? More importantly, what does a mortgage loan officer do for me? Let’s unwrap this for you.
Buying a house is an important decision and major investment. It’s also a step toward the American dream. Like many Americans, our heroes can be hesitant to make the leap. Many heroes often ask, “Should I buy a house in 2020?” or “When is the best time to buy a house”? It’s a great question. It’s an important question. There are many advantages to becoming a homeowner. But, if your circumstances are questionable, then it might not be the best time to buy a house. Here are some historical trends and key housing market indicators for 2020 to consider before you decide to buy a home.
Owning a home is very important to many Americans. Homeownership gives you privacy and strong community ties. As medical professionals, strong community ties are important to you whether you run a private practice or work at a local hospital. One way to achieve your dream of owning your home is by using an FHA loan for Healthcare Professionals. FHA home loans are available to all healthcare professionals around the country. These loans are excellent for people who do not have very good credit but wish to purchase a home in their local area.
Credit score vs credit report, seriously, what is the difference? A credit report is a historical tracking system of how you use credit. A credit score essentially summarizes your credit history into one number. The information and data contained in a credit report is used to calculate your 3-digit credit score. If you are planning to apply for a car loan, mortgage, or credit card, lenders will look at two things to help determine how risky it is to lend you money and your ability to pay back borrowed money, and they are your credit score and credit reports.
Before you study up on the types of home loans available, we always recommend determining how much house you can afford first. Once you know what you can afford to pay for a house, then you can focus on which loan type is best for you. This mortgage calculator is also a great tool to estimate your monthly mortgage payment. If you know what you can afford, the following will cover the four main types of home loans: Conventional loan, FHA loan, VA loan and USDA loans. Chances are you qualify for more than one type so spend a little time getting to know the pros and cons of each.
The Homes for Heroes mortgage calculator helps estimate how much house you can afford before starting the home buying process. It will help you understand and plan for your ongoing financial commitment if you choose to purchase a home. There are four main amounts that make up your monthly mortgage payment: principal, interest, property tax, and insurance (PITI). The Homes for Heroes mortgage calculator not only provides you a monthly mortgage payment estimate, but it also breaks out estimates for your principal, interest, property tax and insurance for different loan types. Continue and try it out yourself.
Read More “Best Mortgage Calculator to Estimate Monthly Payments”
When you are a first time home buyer or want to refinance for the first time, you may ask yourself what’s a good credit score to buy a house, or what is the minimum credit score to refinance? To get approved for a mortgage when buying a house or refinancing, your lender will look at how you use credit and manage debt to determine if you are financially responsible. This is important because the type of loan and interest rate you receive for your mortgage loan depends largely on your credit score and your credit history report. Here is some information about credit scores to help you answer those questions, as well as some credit repair tips to keep your financial health strong.