The Home Preferred loan is a conventional loan offered through NH Housing. Borrowers can put as little as 3% down. The rate may be lower than what is otherwise available and the mortgage insurance cost is lower too. All Home Preferred loans must be approved through Fannie Mae’s automated underwriting system. Generally the maximum debt […]
Why Buyers Need a REALTOR…
Why do buyers need a REALTOR? REALTORs are professional real estate agents who adhere to the highest level of conduct and ethics. Many have years of experience, teams to support you and a deep understanding of every facet of the homebuying process. Hiring the right REALTOR makes all the difference! 1.REALTORs know the city and everything […]
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 […]
Fannie Mae making home financing more av...
Fannie Mae instituted new rules surrounding student loans earlier this year which make a significant difference in what people who have income based repayment plans and graduated payment plans can qualify for. The old guideline was, if the student loan was an income based or graduated payment, the lender would consider the payment to be […]
Tax Reform may make the Homebuyer Tax Cr...
Tax reform for homeowners. One of the benefits of owning a home as a primary residence is the ability to write off the taxes and interest paid which lowers your net income and the amount of tax you must pay. But if the standard deduction is doubled as proposed in the tax reform we […]
What’s the best program for a first time
Many people wonder what the best program is for a first time buyer? The answer is dependent on the buyer’s credit score and credit profile, the buyer’s income and the amount of cash the buyer has to spend on down payment and closing costs. The combination of these items gives a loan officer clues to […]
Who’s using Rehab Loans?
Many excellent properties are scooped up by cash buyers at below market value. In fact cash sales make up over 25% of all sales. Investors know they can buy a home that would be difficult to finance (due to property condition) and fix it up and sell it for a profit. But with a rehab […]
New RD upfront & monthly mortgage insura
There’s a change ahead in financing for first time buyers and others who qualify for the RD (Rural Development) loan which is sometimes also referred to as a Farmer’s Home Loan or USDA loan. The good news is the loan will still require no down payment — that’s right — no money down is needed […]
FHA and Conventional Home Loans – The Di
For many people, understanding the many different home mortgage programs can be difficult especially since there are many different mortgage programs that a person can select from. Two of the most common home loan programs are FHA home loans and Conventional Home Loans. Many home buyers are unsure whether to go with a FHA loan […]