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NO ‘mysterious’ deposits to your bank accounts – Borrowing money for a down payment to buy a home is an absolute ‘no-no’ in the world of mortgage lending. If there is a chance you may not have enough for the … Continue reading
Tagged banker, borrower, buyers, credit score, FHA, FHA 203k, finance, for sale, home, home loan, homes, interim fincnce, lender, loan, loan modification, loan underwriter, mortgage, pre-qualification, repair loan, sellers
This gallery contains 5 photos.
Principle and Interest The first item on your house note will be the Principle and Interest (P&I) calculation based on the original amount of your loan. Using a good Mortgage Calculator, simply plug in the current interest rate and the … Continue reading
Tagged amortization, buyers, escrow, fannie mae, FHA, FHA 203k, finance, flood insurance, for sale, freddie mac, home, home loan, homeowners insurance, house note, HUD, insurance, interim fincnce, loan, mortgage, mortgage calculator, mortgage insurance, pmi, pre-approval, pre-qualification, principle and interest, property tax, short sale, st tammany, tax escrow
What is an FHA loan? The word ‘loan’ is a bit of a misnomer, since Federal Housing Administration (FHA) loans are not loans at all. What the FHA does is insure loans so that lenders can offer mortgage assistance to … Continue reading
Tagged bank repo, buyers, credit score, FHA, finance, for sale, home loan, loan, mortgage, pre-approval, pre-qualification, real estate
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Yes! . . . and it is not a gimmick nor is it VA. It is a little known federal program called USDA Rural Development. Unlike most loans, a USDA-RD loan is unique in that the property itself is the … Continue reading
Tagged credit, FHA, home loan, homes for sale, loan, mortgage, no money down, pmi, real estte, rural development, slidell, USDA, usda-rd