Loans higher than the conforming loan amount of $484,350 are considered jumbo loans. These loans typically sit on a lender’s own books and lenders have their own guidelines for them. Among those guidelines are high down payment requirements. Today, however, many lenders allow down payments as low as 5% even on a jumbo loan.Get Matched with a Lender, Click Here.The … [Read more...] about Is it Possible to Get a Jumbo Mortgage With a 5% Down Payment
The Tax Cut and Jobs Act changed the way taxpayers take deductions. What used to be a common deduction became obsolete. Many of these changes had to do with the mortgage industry. Suddenly it wasn’t a given that you could deduct your mortgage interest. So where does that leave home improvement loans? Are you able to deduct their interest on your taxes?Get Matched with a … [Read more...] about Can you Deduct Home Improvement Loans on Your Taxes?
If you have an FHA loan and are in need of money, you may be eligible for an FHA cash out refinance. This loan enables you to take cash out of the equity of your home. This means that you will have a mortgage with a higher loan-to-value ratio and higher payment, but you will have more cash in your hand to do with as you see fit. Many people tap into their equity in order to … [Read more...] about How to Obtain an FHA Cash Out Refinance
After you save up enough money to buy a house, it’s easy to rush out and start looking. But don’t be so hasty. Choosing the right timing can help you get the best deal on a home. Since this is probably one of the largest investments you’ll make in your lifetime, it’s worth knowing the right timing to save the most money.Get Matched with a Lender, Click Here. Buy When Other … [Read more...] about When is the Best Time of Year to Buy a House?
After the housing crisis, the Obama Administration offered a first-time homebuyer credit, which helped first-time homebuyers afford a home. Unfortunately, the credit stopped in 2010, but there are other mortgage assistance programs that help make homeownership more affordable.Get Matched with a Lender, Click Here. What Was the First Time Homebuyer Credit? The first-time … [Read more...] about What is the First-Time Homebuyer Credit?