When you start to get serious about buying a home, a mortgage pre-approval is an important first step. Getting a pre-approval letter for a mortgage lets you know how much money you can borrow, the range of interest rates you qualify for and the different mortgage options available to you. In many cases, buyer’s agents …
What is LTV? What LTV means? Why is LTV important when you apply for a mortgage? Loan-to-Value (LTV), It’s the amount of the mortgage compared with the value of the property. It is important because it is one of the factors in determining eligibility for securing a mortgage, a home equity loan, or a line …
Owning a house has many benefits, and one of them is the tax reduction. Do you know how many household expenses are tax deductible? Let’s look on tax deductions for homeowners. When we talk about tax deductions, there are two types of deductions: Standard deduction and Itemized deductions. Before you file tax return, make sure …
How can you get a better interest rate? How can you prepare yourself on the way to buy a house? When you buy a house, the first number that concerns you is the house price, but the interest rate is also crucial if you need to borrow money to purchase a house. If you can get …
VA Loan is a government-backed mortgage designed for Veterans, service members, and eligible surviving spouses. Eligible Veterans can purchase a home with no downpayment, no mortgage insurance, flexible credit guideline, and convenient fixed interest rates. The purpose of VA loans is to make home buying easier for those who serve our country. The Department of …
Last update: Dec 17, 2022 An FHA loan is a government-backed mortgage loan insured by the Federal Housing Administration (FHA) and issued by a bank or other lender that is approved by the FHA agency.FHA loans require lower minimum credit scores and down payments than conventional loans, this means you might be able to get …
Last update: Dec 17, 2022 A Jumbo Loan is a type of mortgage loan that exceeds the limits set by the Federal Housing Finance Agency (FHFA). The baseline conforming loan limit for 2023 is $726,200 – up from $647,200 in 2022. The limit is higher in Alaska and Hawaii, where the number is $1,089,300 (from$970,800 in …
Last update : Dec 17, 2022 A conventional loan, generally speaking, is a mortgage loan that is not offered or secured by the federal government. It’s available through or guaranteed by a private lender or the two government-sponsored enterprises- Fannie Mae and Freddie Mac*. The 30-year fixed-rate conventional mortgages are the most common and are …
Can you apply for a mortgage and buy a house in the U.S. as a foreigner? the answer is YES !!! Foreign National Loan is designed for foreign nationals who want to purchase a home in the United States. If you are a citizen from another country, you can still have the opportunity to get …
ITIN loan program is a loan program designed for individuals who do not have an SSN (Social Security Number), with their ITIN (Individual Tax Identification) they can pursue buying a home in the United States. ITIN loan is a full doc non-QM mortgage offering flexibility for individuals residing in the United States. Let’s talk more …
