When Freddie Mac takes possession of a home that foreclosed, they put it in their HomeSteps program. This sales unit, operated by Freddie Mac, markets and sells the home for Freddie Mac. Before the home is available to the general public, though, Freddie Mac offers the First Look Initiative. This program allows owner-occupied borrowers to have the first chance to buy the … [Read more...] about What is the Freddie Mac First Look Initiative?
If you took a subprime mortgage because you had a low credit score, high debt ratio, or some other reason that kept you from getting a mortgage, you may wonder if you can get out of it at some point. The truth is that if you work hard, you probably can get out of a subprime loan. You aren’t stuck with it forever, as they don’t have prepayment penalties in most cases.Looking … [Read more...] about Is it Time to Refinance Your Subprime Mortgage?
Are you looking to buy a home in the United States, but you don’t have a social security number? It may be easier than you think to settle here in the U.S. Rather than a social security number, you will need an ITIN, Individual Taxpayer Identification Number. If you have an ITIN and you have the qualifications we discuss below, you could be well on your way to an approval for … [Read more...] about Can You Buy a House Without a Social Security Number
If you have a new mortgage, you are probably anxious for it to show up on your credit report. Housing debt can have a positive impact on your credit score, especially as you start making payments on time. Many lenders look at your housing debt as an indication of your level of financial responsibility.Get Matched with a Lender, Click Here.Unfortunately, your new … [Read more...] about When Will Your New Mortgage Show on Your Credit Report?
Do you have irregular income or maybe you don’t work at all, but you know that you could afford a mortgage? You probably won’t be able to qualify for a traditional mortgage if you don’t have W-2s or tax returns for a lender to confirm your income, but you may be able to get away by just using your bank statements.Looking for Current Mortgage Interest Rates? Click … [Read more...] about Is it Possible to get a Mortgage on Bank Statements Alone?