by Maxo88 | Jun 5, 2019 | Loan Terms, Mortgage Refinance
Fees and No Fees, What’s the Difference Any loan where the lender pays all of your closing costs (title & escrow fees, appraisal, lender’s fees, etc.- any non-recurring expenses), is commonly referred to as a “no-cost” loan. A true...
by Maxo88 | Jun 2, 2019 | Credit, Uncategorized
Your Credit Score A credit score is one of several pieces of information a lender uses to decide whether or not you qualify for a loan. If you’ve ever had a car loan or a credit card, you’ve had a credit score, even if you didn’t know it. Your credit score...
by Maxo88 | May 13, 2019 | Mortgage Refinance
When to Refinance Your Home Switch from an Adjustable Rate Mortgage (ARM) to a Fixed Rate Loan If your adjustable (ARM) has moved up on you in the last few years and you don’t feel like starting with another low rate only to watch it move again, consider...
by Maxo88 | May 2, 2019 | Home Equity, Loan Terms
HELOC FAQ- Home Equity Line of Credit If you need to borrow money, home equity lines may be one useful source of credit. Initially at least, they may provide you with large amounts of cash at relatively low interest rates and they may provide you with certain tax...
by Maxo88 | Apr 5, 2019 | Loan Terms
Features and Benefits of Jumbo (Non-Conforming) Loans FEATURES BENEFITS Loans Up to $4,000,000 Purchase or refinance Fixed Rate Options 15/20/25/30 year terms Fixed Term Options 3yr, 5yr, 7yr, 10yr fixed adjustable rate Options 6mo/1yr treasury, libor, cofi ...
by Maxo88 | Apr 2, 2019 | Loan Terms
Features and benefits of FHA Loan Programs FHA Fixed Rate Mortgage FEATURES BENEFITS Higher Ratios Allows more borrowers to qualify 3% Down Payment Minimal cash outlay Buydown Option Available Ability to qualify for more home Fixed Rate Easy budgeting Financed...
by Maxo88 | Mar 27, 2019 | Loan Terms
Features and Benefits of FNMA Loans (Fannie Mae) FNMA Fixed Rate FEATURES BENEFITS Up to 97% LTV Minimal cash outlay Non-Owner occupied loans on up to 4 family dwellings Can be utilized by investors Buydown Options Ability to qualify for more homes Fixed Rate Easy...
by Maxo88 | Mar 20, 2019 | Loan Terms
LTV LTV is short for “Loan to Value” ratio. LTV is the relationship between the amount of the mortgage loan and the appraised value of the property expressed as a percentage. A LTV ratio of 90 means that a borrower is borrowing 90% of the value of the...
by Maxo88 | Mar 2, 2019 | Credit
Imperfect Credit Every year, people are turned down for mortgage loans by banks and other financial institutions. Although they may have had some minor credit problems, these potential borrowers are usually responsible, creditworthy people. We offer a number of loan...
by Maxo88 | Feb 26, 2019 | Loan Terms
Features and Benefits of Specialty Conventional Loan Programs Conventional Self-Employed FEATURES BENEFITS Up to 100% LTV Minimal closing costs Stated Income Minimal paperwork No Documentation No qualifying hassle Loans to $500,000 By more home ...
