Bookend LendingMortgage Company is offering, through NH Housing Finance Authority, an FHA rehab program. If you are considering the purchase of a home that is in need of repair, this may be the program for you. The program will allow you to receive up to $35,000 after the closingClosing is the meeting — typically in person […]
Mortgage Info Blog
$2000/year tax credit every year you are...
For qualifying buyers in New Hampshire, you can now purchase a Mortgage Credit Certificate from NH Housing. If you have not yet purchased a home, then you may be eligible for this tax credit in conjunction with any loan program. You may also be eligible if you have owned a home and are buying in […]
6 reasons why new construction is on the...
New construction is up in New England and nationwide. Here are some reasons why: 1. The improved economy has driven more builders to re-enter the home building market. 2. There is now a shortage of existing homes for sale in most price ranges. 3. Bidding wars often occur on existing properties but new construction may free buyers from this uncertainty and give them more […]
How much of my income should go for hous...
A common question asked by homebuyers is how much of my income should go for housing? The answer is not simple and ranges somewhere between 28% and 43% of your stable gross monthly income. Do you have a budget? Determining what you can afford for a housing payment shouldn’t necessarily be dictated by a %. […]
My credit score is between 580 & 619. W
If your score is at least 580 but less than 620 then your best option may be FHA. It may be your only option. With a 580-619 credit score you are looking at an FHA loan and may be limited to a 43% debt ratio although a higher debt ratio may be available to some Buyers. Qualifying […]
Student Loans and Your Mortgage
You may have heard of Fannie Mae and Freddie Mac. These are government-sponsored enterprises (GSE) which securitize your basic conventional mortgages. Despite their many similarities, their guidance on how to qualify a borrower with student loans differ significantly. Now, in addition to conventional GSE’s, there are also Government loan options such as FHA, Rural Housing and […]
When can I refinance my mortgage loan?
Many homebuyers go into their purchase thinking they can refinance into a lower rate in the future. Although this may be true, it’s not something that one should consider as a factor when deciding to buy a home. Who knows what rates will be or what qualifying guideline may prevent a refinance from being a […]
What happens after I sign the sales agre...
Congratulations! You found the house you want to buy. You’ve negotiated a sales agreement – you have a signed offer. What next? You need to give the sales agreement to your lender. Your lender will create a property-specific loan application and forward the application and disclosures for you to sign. Once you have signed these […]
FHA increases loan limits!
FHA is not limited to first time buyers and it is not limited to a sales price and it has no income limit but FHA does have maximum loan amounts. Effective January 1, 2018 for single family homes the loan limits are: New Hampshire Most areas the max loan is $294,515 Manchester/Nashua (Hillsboro County) the […]
Building a House – first steps
If you’re thinking of building a new home the first steps are to find the land (if you don’t already own it), find a house plan you love and then put it out to bid. You need to determine the cost of your project in order to determine the financing terms. Meanwhile you really need […]