by maria | Aug 23, 2016 | Exclusive QA |
You see promotions for them all the time but banking regulators have gone after lenders who misrepresent these loans. The reality is that no-cost and no-fee loans may actually cost the borrower more over the long term because costs are often hidden by rolling them...
by maria | Aug 23, 2016 | Exclusive QA |
Conventional loan limits are limits imposed on the amount of money you can borrow to finance a home purchase. The loan limit generally increases each year and applies to single-family homes in the 48 contiguous states, with higher limits in Alaska, Hawaii, Guam and...
by maria | Aug 23, 2016 | Exclusive QA |
They are the same as conforming and non-conforming loans. A conventional, or conforming, loan is one not insured by the Federal Housing Administration (FHA) or guaranteed by the Veterans Administration (VA), two federal government agencies that make homeownership...
by maria | Aug 23, 2016 | Exclusive QA |
Conforming loans have terms and conditions that adhere to guidelines established by Fannie Mae and Freddie Mac, the two, big quasi-government corporations that purchase mortgage loans from lenders then package them into securities that are sold to investors. Their...
by maria | Aug 23, 2016 | Exclusive QA |
That certainly is an option, although not one most people can afford. Unless you’re independently wealthy or have hit the jackpot, it may be difficult to make a ‘no-mortgage’ investment. And an investment is exactly how you should view it because you...
by maria | Aug 23, 2016 | Exclusive QA |
Such loans are offered by government agencies and private lenders, including nonprofit groups and employers. In fact, there are government programs at both the federal and state level to help cash-strapped buyers. Under many state housing agency guidelines, borrowers...