Your Mortgage Tax Deductions - Missouri
Mortgage Basics

Your Mortgage Tax Deductions

Is My Mortgage a Tax Deduction? Yes, owning a home also comes with many qualified mortgage tax deductions, also called tax write-offs. To claim your mortgage interest tax deductions, you must itemize your taxes instead of taking the standard deduction. Your Mortgage Tax Deductions There are several components to a mortgage that allow for mortgage…

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What is a VA Loan - Featured
Home Loans

What is a VA loan?

Veterans, we are eternally grateful for the sacrifices you have made for our country. While there is nothing we can do to adequately thank you for your service, we can offer guidance and assistance during your homebuying process. We are here to help you navigate VA loans and get the keys of your dream home…

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Home Loans

What every first-time home buyer should know?

When you are buying your first home, there are many areas of lending and the home buying process that you will want to be informed about. Educating yourself is the first step to knowing that you are getting the best deal.   1. Down Payment Assistance Programs – MHDC, Chenoa, City Grants, etc.  a. These…

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Money do You Need to Buy a Home - USA Mortgage
Buy a Home

How Much Money Do You Need to Buy a Home?

Saving for a downpayment is often the most daunting part of the homebuying process. Having enough cash to put 20% down may seem out of reach, but don’t let that high number discourage you from becoming a homeowner.Despite what many people say, you don’t have to put 20% down to get the keys to a…

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FHA Home Loan Requirements - USA Mortgage
Home Loans

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…

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USDA Loan changes and options - USA Mortgage
Home Loans

USDA Loan Changes and Options

Many people are unaware of the U.S. Department of Agriculture mortgage program. USDA home loans don’t require down payments and are available for eligible rural and suburban homebuyers. Read on to see if this program would be a good fit for you and your household. What are the USDA income limits? USDA loans are made…

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Home Loans

What makes FHA Loans different from other loans?

The Federal Housing Administration (also known as FHA) requires only a minimum credit score of 500, while also allowing borrowers a down payment as low as 3.5%. FHA loans will also allow a zero-credit score by supplementing with non-traditional credit. With the options offered by FHA, this is a common loan program often utilized by…

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ARM vs Fixed Rate Loans - USA Mortgage
Home Loans

ARM vs Fixed Rate Loans

Applying for a mortgage can feel overwhelming at first, especially if you aren’t familiar with industry jargon. Two terms that are often thrown around are adjustable-rate mortgages, or ARMs, and fixed-rate mortgages. Understanding the differences between these two types of mortgages will make you feel more comfortable and confident with the application process. They may…

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Understanding The Mortgage Process - USA Mortgage
Mortgage Basics

Understanding The Mortgage Process

When people think about buying a home, they likely envision attending open houses and picking out new paint colors, not securing a mortgage. While getting a mortgage isn’t as glamorous as other aspects of buying a home, it is arguably the most important step in the process. Without a mortgage, most people wouldn’t have a…

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Living in Columbia Misosuri - USA Mortgage
Community

Why You’ll Love Living in Columbia

Columbia, Missouri has a way of winning people over. With three colleges, a lively downtown and plenty of beautiful outdoor areas, there’s always something new and exciting happening in Columbia. USA Mortgage is a premium relocation lender in Columbia, and we love introducing new residents to the area. If you’re planning to relocate to our…

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Home Loans

Certified Preapproved Homebuyer Program

As the housing market starts improving the supply and demand will shift towards seller’s market. This means multiple offers on a same property and the chances of your offer getting accepted may not be as great as it used to be in the buyer’s market. Here at USA Mortgage we strive to not only provide…

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Home Loans

6 Tips for the First Time Home Buyer

Have you recently decided that the time is right to buy your first home?  With Spring weather upon us, the market is starting to become active and many great homes are beginning to be listed for sale. The process of buying your first home can be a very exciting time.  It’s truly a fresh start in a…

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Mortgage Basics

High Credit Scores Equal Lower Mortgage Rates

Your credit score is extremely important when it comes to applying for any type of loan or credit account, especially when you’re looking to purchase a home. Not only does your credit affect the total amount of a loan you may qualify for, but it also helps mortgage lenders determine a mortgage rate they’re willing…

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Mortgage Basics

How Mortgage Amortization Works

How does mortgage amortization really work? A fixed rate loan can also be referred to as a fixed payment loan – However, the amount of principal and interest paid changes with each payment. Interest Paid – The math behind “amortization” or paying a loan off in a fixed period of time starts with the amount…

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Home Loans

The FHA loan program

The FHA loan program was designed to help those who have trouble getting a home purchase a new home. In fact, the FHA loan program is the oldest loan program in the US. It’s been helping people get homes for close to 90 years. Created during the great depression and insured by the Federal Housing…

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Mortgage Basics

APR: Comparing the cost of loans

APR (Annual Percentage Rate) Comparing the cost of Home loans When you see a loan rate advertised, you’ll also see a corresponding APR (4.5%/4.762% APR). This Annual Percentage Rate is the total cost of your loan (interest and fees) expressed as a single number. The purpose is to give you one number for comparing multiple loans.…

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Mortgage Basics

Get Pre-Approved for a Mortgage

Buying a home is an exciting process however you must ensure you have the details worked out for your loan to secure the home of your dreams. Getting all the details worked out for financing ahead of time will make the entire process much more enjoyable and stress-free as moving forward. Applying & Getting Pre-Approved…

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Buy a Home

Renting vs. Owning a Home

There’s more to comparing the costs of renting and owning a home than the dollar cost of payments. Even with numbers like these, some still say renting is better: “Investing in a home is riskier than renting.” No risk, no reward. Besides, even studies conducted by the Federal Reserve show that owning can provide a net worth…

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