As someone who is looking to buy a home, you may have heard the term “mortgage pre-approval” thrown around. But what exactly does it mean, and how long does it last? A mortgage pre-approval is a process where a lender evaluates your financial information and determines how much they are willing to lend you for…
Unlock the Magic of Home Loans this Halloween
As the leaves fall and the nights grow longer, something spooky is brewing in the real estate realm—Haunted House Hunting! Financing your haunted abode requires more than just a good credit score; you’ll need to decipher the cryptic language of interest rates and loan terms, as if reading an ancient spell book. If you dare…
Fall into Homeownership this Autumn
Ah, the crisp air and the scent of pumpkin spice wafting through the streets. There is a unique charm and coziness that fall season brings. As the leaves turn to fiery shades of red and gold and the aroma of cinnamon and apples fill the air, it might also be the perfect time to cozy…
Low Down Payment Home Loans
Empowering Homebuyers: Low Down Payment Home Loans and Financial Assistance Purchasing a home is an exciting journey, but it can also present its challenges, particularly when considering the financial component. Fortunately, numerous home loan programs require low or even no down payments, making homeownership more accessible to many people. Here we’ll provide a comprehensive overview…
Unlocking the Power of Soft Credit Pulls
Get Prequalified with USA Mortgage Are you in the market for a new home and exploring various mortgage options? The first step towards making your dream of homeownership a reality is getting started on the prequalification process. USA Mortgage is here to make the process easier, offering a convenient way to get prequalified by access…
Home Loans for Doctors
A Comprehensive Guide for Medical Professionals Navigating the world of home loans can be challenging, especially for medical professionals who may face unique financial challenges such as paying back larger amounts of student loan debt. Imagine if there was a mortgage loan designed specifically for medical professionals. Well, you are in luck! The physician mortgage…
Understanding Jumbo Mortgage Loans
In the mortgage industry, you may encounter the term “jumbo mortgage”. While the term may seem intimidating, it’s simply a type of home loan designed for properties that exceed conforming loan limits. Here, we will dive into the specifics of jumbo mortgage loans, including the requirements, down payments, and qualifications. What is a Jumbo Mortgage…
Home Loans for Nurses in 2023
Understanding Mortgage Programs and Approval Process Nurses dedicate their lives to caring for others, but they may face unique challenges when securing a home loan. The good news is that mortgage programs and strategies specifically for registered nurses are tailored to accommodate these healthcare heroes’ needs. With the proper knowledge and guidance, nurses can navigate…
2023 Mortgage Rates Forecast
2020 and 2021 were tremendous years for homebuyers and refinancers, with near record setting lows for mortgage rates across the country. As we’ve begun 2023, the question on everyone’s mind has become: what will we see within the next year in regard to the fluctuating interest rates? In 2020, mortgage rates were some of the…
How to Calculate Your Home Payment
When considering purchasing a home, it is important to understand how to calculate your monthly mortgage payment to plan your budget for future expenses. We are going to cover the basics you’ll need to calculate an estimated monthly payment. With this information, you can get an idea of what purchase price you are comfortable with,…
FHA Home Loan Requirements
Many people believe that homeownership is completely out of reach. But the truth is that even with a low credit score or the inability to save for a hefty down payment, you can still buy a house you love.If you would like to purchase a home but are struggling with credit or savings, an FHA…
Conforming Loan Limits
Each year, the Federal Housing Finance Agency (FHFA) sets new baseline loan limits for various types of home loans to reflect the average home price in the U.S. Conventional loans, also known as conforming loans, are guaranteed by Fannie Mae and Freddie Mac and make up most of the loans in the U.S. As you…
Who Qualifies for a VA Loan?
VA loans are mortgage loans tailored specifically for active-duty service members and veterans of our nation’s armed forces. In order to be eligible, you must have served a designated amount of time in the military, or in some cases, surviving spouses of veterans are eligible as well. It is important to understand the difference between…
What is a Conventional Home Loan?
A Conventional loan is a home loan program that is not backed by a government agency, but has many of the benefits that government loans have to offer and, more. Conventional home loans come in several different varieties; whether you are a first-time homebuyer, looking for an investment property, or wanting to refinance your current…
Loan Options for First Time Homebuyers
If you’re a first-time homebuyer, the loan process can be both exciting and daunting. With homes flying off the market in record time, it’s essential to move quickly. Researching loans you may be eligible for and getting a layout of the guidelines can help you find a loan best suited for your financial situation as…
5 Common Signs of Predatory Lending
With so many mortgage lending companies out there, you might be wondering how to find one that has your best interests in mind. It can be more difficult when predatory lenders use deceptive tactics and tricks to trap people into less-than-ideal financial situations. Look out for these five common signs and tactics predatory lenders use…
