Veterans have the great benefit of securing 100% financing for their home purchase. The loan provides simple guidelines and much flexibility. Many people wonder, though, just what is the verification process for income and assets? Does it work the same as other programs? Looking for Current Mortgage Interest Rates? Click Here. We take a look at the answer below. What do … [Read more...] about Income and Asset Verification During VA Loan Process
You still owe money on your home, but you want to sell it. Is this possible? Since most mortgage terms are 30 years long, homeowners sell their homes that still have mortgages on them all of the time. It is possible to sell your home while you still have a mortgage, but you should know how it works before doing it yourself. Looking for Current Mortgage Interest Rates? Click … [Read more...] about Is it Possible to Sell Your Home if you Have a Mortgage?
Your bank statements play an important role in getting a mortgage. Whether you need to prove that you have the funds to close on the loan or you need to prove that you have reserves on hand, your bank statements are an important part of the underwriting process. Compare Offers from Several Mortgage Lenders. So what can you do to make sure that underwriters approve your … [Read more...] about The Top Ways to Get Underwriters to Approve Your Bank Statements
If you are a Native American and have trouble getting home loan financing, there could be help with the Section 184 Home Loan program. This HUD program helps Native Americans afford home ownership by allowing low down payments and low interest rates. HUD guarantees the Section 184 Loans 100%, which means they work in much the same way that other government-backed programs, such … [Read more...] about Understanding the Section 184 Home Loan for Native Americans
Stated income loans haven’t gone away totally, as some people mistakenly believe. While you won’t find them offered by every lender today, there are some that still offer it. Before you decide which loan option is right for you, it’s important to understand the different requirements of the two loans. Compare Offers from Several Mortgage Lenders. Standard Loan … [Read more...] about Standard and Stated Income Loans: What’s the Difference in Guidelines?