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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Columbia Police Invest in the Community - USA Mortgage
Community

The Columbia Police Invests in Our Community

The nature of law enforcement has changed over the past decade across the country. In the past, many police agencies had the “if it isn’t broke don’t fix it” mentality when it came to reducing crime and working with the community and were either unwilling or unable to change how they interacted with members of…

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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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Advice First-Time Homebuyer Should Know - USA Mortgage
Home Loans

4 Pieces of Advice Every First-Time Homebuyer Should Know

Are you thinking about purchasing your first home? If so, congratulations! Homeownership is a wonderful experience, and the road to buying your first house is an exciting one. It’s likely different from any purchase you’ve made in the past, so it’s important to be prepared for the unique process. Below are my top four pieces…

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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

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

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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Community

The Impact of a Qualified Realtor

When selling your home, it is important to ensure that you are dealing with a qualified realtor to help you during the selling process. There are a lot of realtors out there to choose from, so doing thorough research before choosing a realtor is key. While it is important to understand that not all realtors are created…

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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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Mortgage News

The Fed Increased Rates

The Fed increased rates at their most recent meeting. They also indicated they will likely raise rates three additional times in 2018. Please read on for more: First, who is the Fed and what do they do? The Federal Reserve Board (the Fed), controls the Fed Fund Rate and the Discount Rate. These are charges…

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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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