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…
Posts Categorized: Home Loans
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…
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…
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…
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…
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…
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…
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…
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…
