Understanding the HOW and WHY of Escrow Accounts One of the most significant financial commitments most people will make in their lifetime is purchasing a home. When buying a home, one of the crucial components is deciding whether you are going to escrow other house expenses, such as taxes and insurance into your monthly house payment…
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FHA loans vs. Conventional loans
When purchasing a home in Missouri, Arkansas, or Illinois, choosing the right loan program is a crucial step in the process. That is where the skills and knowledge of your loan officer will play a significant role in your decision. One of those choices is the option between FHA Home loans vs Conventional loans. Here…
MHDC Down Payment Assistance
The Missouri Housing Development Commission, commonly known as MHDC, offers homebuyer financing programs that can help eligible Missouri borrowers manage the upfront cost of purchasing a home. Through the First Place Loan Program, qualified first-time homebuyers and qualified Veterans may choose mortgage financing that includes down payment and closing cost assistance. MHDC program guidelines, income…
Watch Out, It Is USDA Loan
There are 3 main types of home loans that you are getting, today we’re going to be discussing what a USDA home loan is and why it’s been a great option for homebuyers looking outside of the city limits and smaller towns. USDA loans offer a $0 down payment for qualifying buyers who are looking…
MHDC Loan First Time Home Buyer
The Missouri Housing Development Commission, or MHDC, offers homebuyer programs for eligible borrowers purchasing a primary residence in Missouri. MHDC is not an FHA loan. Instead, MHDC financing can be paired with eligible government-backed or conventional mortgage programs, depending on current program requirements. The First Place Program is primarily designed for qualified first-time homebuyers and…
VA Home Loan: 100% Financing
One of my favorite home financing options is the VA home loan. With the $0 down payment option, and no Mortgage Insurance (MI), they are superior to any other loan out there for the majority of buyers’ situations. VA loans do offer very competitive interest rates as well, and USA Mortgage has a lot of…
