by maria | Sep 8, 2016 | Exclusive QA |
According to the Millennial Housing Commission created by Congress, few lenders are willing to administer home improvement loans. Most prefer to make home equity loans or unsecured consumer loans because they are easier to manage. Home improvement loans usually...
by maria | Sep 8, 2016 | Exclusive QA |
Lenders require private mortgage insurance (PMI) on most loans with less than a 20 percent down payment. They believe there is a correlation between borrower equity and default. They have found that the less money borrowers put down, the more likely they are to...
by maria | Sep 8, 2016 | Exclusive QA |
Many builders offer financing incentives to help move more buyers into a project. In fact, major building companies often have their own mortgage brokerage subsidiaries, while many other builders routinely refer buyers to ‘preferred’ local lenders. If it...
by maria | Sep 8, 2016 | Exclusive QA |
The Federal Housing Administration (FHA) is an agency within the Department of Housing and Urban Development (HUD). Its main goal is to help provide housing opportunities for low- to moderate-income families. FHA has single-family and multi-family mortgage programs...
by maria | Sep 8, 2016 | Exclusive QA |
There are several new government programs that have been launched or are expected to launch to help prospective homeowners. Stay in touch with federal, state, and local housing offices regularly. They offer many programs that come and go based on a changing economy...
by maria | Sep 7, 2016 | Exclusive QA |
They can remain on your credit record for seven to 10 years; however, a borrower who has worked hard to reestablish good credit may be shown some leniency by the lender. The circumstances surrounding the bankruptcy may also influence a lender’s decision. For...