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First Time Home Buyer Programs | Home Loans | Refinance

JMcHood

How Much will my Title Insurance Policy Cost?

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Buying a home means paying a whole slew of fees, especially if you secure mortgage financing. You’ll have the fees charged by the lender, of course. But, you’ll also pay third-party fees, including those charged by the title company. One fee you’ll see on your closing statement is the ‘title search fee.’ Get Matched with a Lender, Click Here. Keep reading to learn what this … [Read more...] about How Much will my Title Insurance Policy Cost?

Alternatives to the FHA 203K Loan

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If you want to buy a house that is run down and won’t pass an appraisal, you probably think of the FHA 203K loan as an option. This loan program gives you the funds to purchase and renovate a home so that it will pass the FHA appraisal. You can even make cosmetic changes to the home if there’s room in the loan. What if you don’t want the FHA 203K loan, though? Are there other … [Read more...] about Alternatives to the FHA 203K Loan

Can You Get a Fannie Mae Loan After a Foreclosure?

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You lost your home in foreclosure so you assume that you won’t qualify for a conventional loan anytime soon, right? We have good news for you - it is still possible to get a conventional loan and you may not have to wait as long as you thought. Today, Fannie Mae guidelines allow you to get a conventional loan as soon as 2 years after foreclosure. Looking for Current Mortgage … [Read more...] about Can You Get a Fannie Mae Loan After a Foreclosure?

What Do I Need to Know Before Signing a Home Purchase Contract?

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One of the largest steps in a home purchase is the sales contract. Signing this document legally binds you to the purchase. If you don’t read the fine print, you might agree to things you don’t like. Here we discuss what you should do before you sign a new purchase contract. Know Your Contingencies Buying a home means many different things must come together. For example, you … [Read more...] about What Do I Need to Know Before Signing a Home Purchase Contract?

How to Calculate Debt-to-Income Ratio?

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Next to your credit score, your debt to income ratio plays a major role in your ability to secure a loan. Each loan program has a specific debt ratio they require. This doesn’t mean every lender abides by that rule. Some enforce stricter rules to help prevent default. Knowing how lenders calculate your ratio can help you best prepare for your loan approval. Figure Out Your … [Read more...] about How to Calculate Debt-to-Income Ratio?