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A great benefit for those who have served their country

The VA home loan program is an incredible benefit for those who have served our country. This flexible financing option offers competitive interest rates and is one of only a few sources of no-downpayment home loans available today. Here’s something else you may not know: It’s designed to protect veterans by making sure the home they are purchasing meets certain standards. The VA does this through an appraisal process. The goal is to ensure that veterans pay a fair price for their home and are purchasing a property that is structurally sound. There are generally two parts t...

December 10th, 2015 | VA Loans, Home Buying Tips, Mortgage Options, A great benefit for those who have served their country

Things you shouldn’t do before applying for a home loan

If you’re getting ready to buy a home, there are a lot of things you should do, such as getting pre-approved for a home loan. But there are also a few things you don’t want to do. 1. Change your job. Now is not the right time to become self-employed, to quit your job or to even switch jobs. Lenders want to see job stability, which means you’re less likely to default on your loan. 2. Co-sign on a loan. Even if you’re not the one who will be making the payments on a loan, if you’re a co-signer, you’re financially responsible...

April 30th, 2015 | Mortgage Options, Things you shouldn’t do before applying for a home loan

A great benefit for those who have served their country

The VA home loan program is an incredible benefit for those who have served our country. This flexible financing option offers competitive interest rates and is one of only a few sources of no-downpayment home loans available today. Here’s something else you may not know: It’s designed to protect veterans by making sure the home they are purchasing meets certain standards. The VA does this through an appraisal process. The goal is to ensure that veterans pay a fair price for their home and are purchasing a property that is structurally sound. There are generally two parts t...

February 17th, 2015 | VA Loans, Mortgage Options, A great benefit for those who have served their country

Which loan term fits your needs

Getting ready to buy a home? Now is the time to be thinking about which type of loan term best fits your needs. Most buyers take out a 30-year fixed-rate home loan. In fact, more than 80 percent of buyers select this option because of the low monthly payment. The other main options are 10-year and 15-year fixed-rate loans.The big downside with these shorter-term options are the significantly higher monthly payment. With a 15-year home loan, for example, you can expect to have a 28 to 30 percent higher monthly payment than with a 30-year.  And, you’re locked into paying that hi...

January 22nd, 2015 | Mortgage Options, Home Buying Tips, Which loan term fits your needs

FHA loans: How they help you purchase a home

Taking out an FHA loan? You have plenty of company. The Federal Housing Administration, also known as the “FHA,”  is the largest insurer of mortgages in the world. So how does the FHA work? And how does it help you buy a home? The FHA, which is part of the U.S. Department of Housing and Urban Development, doesn’t actually provide home loans. It provides mortgage insurance on loans made by lenders throughout the United States and its territories. Since it was created in 1934, the FHA has insured more than 34 million properties. The insurance helps protect lenders ag...

December 11th, 2014 | FHA Loans, Mortgage Options, FHA loans: How they help you purchase a home