If you’re a first-time homebuyer with limited funds, you may be considering going with an adjustable interest rate mortgage loan. These loans are attractive because they offer lower rates and flexible monthly payments than conventional fixed-rate mortgages. Let us...
Federal Housing Administration guidelines require the FHA lender to include the monthly payments of non-occupant spouses in qualifying ratio calculations. However, credit scores from non-occupant spouses (either good or bad) will not be used in the application...
As with any big undertaking, taking the time to plan and organize the details of a home purchase is essential to an overall successful experience. This involves preparing for the purchase, mortgage selection, home shopping all the way to the actual home buying. Here...
Depending on the circumstances, a buyer can take over or assume a seller’s mortgage. The advantage of an assumable mortgage is that there is no need to apply for a new mortgage. When you assume an existing mortgage, you can buy a home without risking your own credit...
There are many types of mortgages, one of which is adjustable-rate mortgages. In this article, you’ll learn the basics of adjustable-rate mortgages, or ARMs, how they work, who they’re best for, and what to consider with these mortgages. Let’s get to it!...
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