TODAY’S NEWS
Which Loan Should You Use as a First-Time Homebuyer?
Have you heard that the FHA loan is the best first-time homebuyer’s loan? In fact, it’s been known as only a first-time homebuyer’s loan for many years. That’s not the case, though. First-time homebuyers can use any type of financing that is available in today’s...
What is the Fannie Mae Waiting Period After a Derogatory Event?
Recent derogatory events on your credit report increase your risk of defaulting on a loan in the future. This is especially true if you take out a new mortgage. Because of this, Fannie Mae has a specific waiting period you must go through before you can secure a...
What is the Minimum Credit Score Needed for a Conventional Loan?
Your credit score could fall anywhere between 350 and 800. It’s safe to say, though, if you fall on the lower end, you’ll have a hard time finding a mortgage from any lender. That doesn’t mean you won’t find a loan, but finding a conventional loan would be next to...
Should you Buy or Build a House?
It’s time to take the plunge and buy your own house. It’s an exciting time! Before you start the process, though, you have to decide if you should buy or build a house.There are many factors that go into this decision. Do you want to buy a home that’s ready to go or...
How to Properly Write a Letter of Explanation for a Mortgage
If everything on your mortgage application isn’t textbook material, it’s fairly certain that you’ll receive a request for a Letter of Explanation. Just what is this letter and how do you write it?Keep reading to learn the specifics you must know in order to get the...
