If you want FHA financing, you’ll have to pay FHA mortgage insurance. This insurance protects the lender should you default on the loan. The FHA requires both upfront and annual mortgage insurance for each of its loans. It doesn’t matter how much you put down on the home or how much you owe, you will always pay mortgage insurance on it.Looking for Current Mortgage Interest … [Read more...] about How Much Does FHA Mortgage Insurance Cost in 2018?
You own a home jointly with another person and now you want out of it. You can’t just walk away and wash your hands of the obligation, though. You are legally obligated to the debt until it’s paid in full. If you want out sooner, you’ll have to take these important steps.Compare Offers from Several Mortgage Lenders. Discuss the Desire to Get Out With Your Partner You … [Read more...] about How Can You Get Out of a Joint Mortgage?
Once you secure your mortgage, your relationship with your lender is far from over. In fact, it’s just starting. This is why it’s important to choose a lender that you trust and that you work well with because you could be dealing with them for another 30 years.Compare Offers from Several Mortgage Lenders.What happens if your mortgage lender gives you the runaround? It … [Read more...] about The Top Ways to Avoid Mortgage Lender Runaround
If you are eligible for a VA loan, you have a great loan program at your disposal. Not only do you get 100% financing, but you also get access to flexible underwriting guidelines.Compare Offers from Several Mortgage Lenders.Unlike other loans in the industry, the VA loan has relaxed guidelines for just about every aspect of the loan including the debt-to-income ratio. … [Read more...] about What’s the Ideal DTI for VA Financing?
Refinancing your VA loan to tap into your home’s equity is possible with a VA cash out refinance. In fact, you can borrow up to as much as 100% of your home’s equity with a VA loan. Is it worth it though?Compare Offers from Several Mortgage Lenders.As with any refinance, there are pros and cons that you must consider. Keep reading to learn both sides of the VA cash out … [Read more...] about The Good and Bad Sides of the VA Cash Out Refinance