DSCR, or Debt Service Coverage Ratio, might sound like a secret code, but it’s your ticket to financing your business endeavors or buying that dream property. In simple terms, DSCR is a financial metric lenders use to determine your ability to cover your debt payments. The higher your DSCR, the more financially robust you appear […]
Are you planning to purchase a house for a family member? Maybe find a place where your parents can live comfortably? Then you’re about to learn that the real estate industry can sometimes be a confusing maze of paperwork and statistics. Thankfully, the “Family Opportunity Loan” is like the golden ticket of home financing— it […]
Building your ideal home from the ground up seems like a far-off fantasy because housing expenses are always rising. But you’re not alone—according to the National Association of Realtors, the average cost of a newly constructed home in the United States as of June 2023 is over $400,000! That alone should cause anyone to reconsider […]
A recent announcement from Fannie Mae has revealed a sizable modification to the down payment requirements for multifamily properties. The powerhouse in mortgage lending will accept 5% down payments for loans on multi-family owner-occupied homes in the near future. Naturally, there are prerequisites for eligibility. However, this regulation modification offers a chance for those who […]
Wealth-building is the ultimate financial adventure. While it’s true that being wealthy takes time, the process doesn’t have to be difficult. Indeed, it resembles going on a treasure hunt where the goal is to find generational wealth. This is the point at which financial strategy decisions are made. Helping Americans create assets and purchase a […]
Hey there, future homeowners! If you’re attempting to purchase a home for a family member, there are two major options you should be looking at. However, finding the ideal mortgage to make your home purchase dreams come true can quickly become a nightmare without the right information. There’s so much to consider from tax implications […]
If you work in the cannabis industry, obtaining financing options for the home of your dreams may have felt unattainable until now. The uncertainty of approaching lenders who may not be willing to provide mortgage options to people whose major income comes from this industry—even though legal, is genuinely daunting. But thankfully, it’s mostly an […]
A distinctive and cutting-edge government project, the Good Neighbor Program of the Federal Housing Administration (FHA), commonly referred to as the “Good Neighbor Next Door” initiative, aims to build communities and encourage some public officials to own homes. The U.S. Department of Housing and Urban Development (HUD) established this program to give qualified teachers, firemen, […]
It’s no news that the state of Texas has a housing market that is just as diverse as its very broad landscape. The Texas real estate market has a house for practically every type of homeowner, from the bustling real estate hotspots of Houston, Dallas, and Austin to the tranquil suburban villages and scenic rural […]
Homeownership has long been seen as a pillar of the American dream, symbolizing stability, security, and a sense of success. Many people desire to accomplish it and for a good cause. Aside from the emotional and personal rewards, homeownership also has financial benefits. Mortgage payments can develop equity over time, and mortgage interest can provide […]
Florida hosts such a vibrant real estate market that attracts homebuyers from all over the country and the world. Florida State has always held an allure for individuals eager to invest in their dream houses or find profitable real estate opportunities, thanks to its magnificent beaches, mild climate, and dynamic culture. However, because of these […]
Even though they are not well-known, Family Opportunity Loans, often referred to as “Family Member Mortgages” or “Intrafamily Loans”, give families in Texas a special chance to have access to affordable financing for real estate acquisitions. These loans are specially made to help families buy houses for the use of family members, sometimes including multigenerational […]
Veterans who have faithfully served our country are well-represented in Colorado’s dynamic community. In addition to our gratitude, these heroes deserve all the chances they can get to succeed, including becoming homeowners. The world of home financing can be both exciting and scary to navigate, and veterans in Colorado primarily have two choices. They include […]
In the flourishing state of Florida, VA loans stand out as a particularly effective financial choice for veterans and active-duty military personnel. These loans provide an excellent opportunity to become a homeowner and provide a lot of benefits, being backed by the U.S. Department of Veterans Affairs. However, if you want to be eligible for […]
Real estate investments have long been a popular way to build wealth for physical assets that can increase in value over time. However, when looking to maximize profits and minimize risks, funding these investments frequently necessitates careful thinking. The Debt Service Coverage Ratio (DSCR) loan is a crucial component of real estate finance and a […]
Veterans Affairs loans, often known as VA loans, are effective financial instruments created to assist qualified veterans and active-duty military members in realizing their ambition of becoming homeowners. These loans, which are supported by the U.S. Department of Veterans Affairs, provide several advantages over conventional mortgages. We’ll walk you through every step of applying for […]
Construction Loans: A Current In-Depth Analysis Construction loans are specialist financing choices made to pay for building a new home or making significant improvements to an existing one. Work loans give money in payments while the work is done, as opposed to conventional mortgages, which give money all at once. We’ll take a comprehensive look […]
Your Guide to HELOCS and HELOANS Leveraging the value of your house can be a useful financial strategy for homeowners. The House Equity Line of Credit (HELOC) and the Home Equity Loan (HELOAN) are two great ways to access the equity in your house. Homeowners now have the chance to obtain cash for a variety […]
Student Loan Forgiveness Millions of borrowers have suffered financially as a result of the spiraling student debt problem in recent years, making it more difficult for them to attain their goals and maintain financial security. But as 2023 progresses, a ray of light appears for people who are struggling under the weight of this student […]
First time home buyers in Texas face similar challenges when it comes to saving up for a down payment. If you’re looking for first time home buyer programs in the Texas market, here’s an overview of down payment assistance programs that may be available to you. Why Down Payments are Important for First Time Home […]
Debt to Income Ratio The debt-to-income ratio (DTI) is a significant financial indicator that compares a person’s monthly debt payments to their total monthly income. It plays a big role in determining whether or not you qualify for a loan and how stable your finances are. Gainesville, Jacksonville, Tampa, and St. Petersburg have recently recorded […]
Debt Ceiling and Mortgage Rates The term “US debt ceiling” refers to the legal cap on how much money the US government may borrow to fund its operations and settle its debts. It is determined by Congress and reflects the highest possible amount of debt that the country may incur. The government must take action […]
Looking For VA Loans in Texas? Veterans and active-duty service members in the United States enjoy a distinct advantage when it comes to homeownership because of the availability of VA loans in Texas. Loans for the purchase or refinancing of a house that is insured by the Department of Veterans Affairs (VA) for qualified veterans, […]
SBA LOANS Small businesses frequently have trouble getting the funding they need for development and growth. But the Small Business Administration (SBA) throws these businesses a lifeline in the form of SBA loans, which are essential to their success. The SBA 504 and SBA 7A loans are two well-liked SBA lending programs. Additionally, a significant […]
Down Payment Assistance Programs Florida For many people and families, buying a house is an important milestone, but the associated costs may sometimes be prohibitive, especially for first-time buyers. However, there are several down payment aid programs accessible in St. Petersburg, FL, to help make homeownership more feasible. Down Payment Assistance Programs in Florida are […]
The USDA Rural Development Loan is an initiative created to assist Americans living in rural areas realize their dream of becoming homeowners. Low-income people can get the financial support they need through this financing program to buy homes in rural areas. It is impossible to exaggerate the significance of the USDA Rural Development Loan. Owing […]
First-time home buyers in Florida and all of the Down Payment Assistance Programs in Orlando, FL First time home buyer programs in Florida offer solutions to residents who frequently struggle with the demanding challenge of saving up a down payment for their ideal home. To make wise choices when buying a home, one must be […]
Interest rates, loan conditions, and fees have always been vulnerable to change in the mortgage sector due to market changes, new rules, and government policies. Mortgage lenders are preparing for another significant shift as 2023 approaches: a new mortgage fee structure affecting borrowers nationwide. A new fee schedule that will change how mortgages are priced […]
What Are Down Payment Assistance Loans? Purchasing a house requires a substantial financial commitment and can be intimidating for many, particularly when it’s related to the down payment. An advance payment made to reserve a property known as a down payment is a portion of the home’s total cost. This sum might be significant, making […]
40-Year Mortgage? When it comes to buying a home, securing a mortgage is often the biggest hurdle. Homebuyers have a variety of mortgage options to choose from, and one of the most popular options is a 30-year fixed-rate mortgage. However, in recent years, there has been growing interest in 40-year mortgages, which offer lower monthly […]
Lower Interest Rates In 2023? The US economy is constantly changing, and it can be difficult to keep up with the latest trends and developments. As of April 2023, the economy is in a state of flux, with some indicators suggesting a possible recession on the horizon. This has led many to wonder whether the […]
FHA Loans Florida, what are they? A mortgage application can be intimidating for many first-time homebuyers, especially if they have poor credit or little money set up for a down payment. The Federal Housing Administration (FHA) does, however, provide a choice that might increase access to homeownership. We will go through the definition of FHA […]
Mortgage loans that are backed by the Federal Housing Administration (FHA) are known as FHA loans. They were developed to offer more flexible qualification requirements than conventional loans, making homeownership more accessible to a larger spectrum of people. Continue reading to learn how to apply for FHA Loan in Texas Texas first-time homebuyers may find […]
DSCR Loans on the Atlantic side of Florida The Atlantic side of Florida is a popular place for investors to look. They are aware that there are a lot of investment possibilities in Atlantic Florida Properties, especially in rental houses and business buildings like restaurants and shopping malls. Because retirees desire to relocate from other […]
There are several different loan kinds available in the multifamily real estate market for financing a property. A DSCR loan is one kind of loan that is rather useful. We will examine using a DSCR Loan For Rental Property in more detail in this post, along with the financing options available for 5-8 unit building […]
DSCR Loans in the Gulf region of FLORIDA One of the tried-and-true methods for creating generational wealth is investing in the property sector. There are numerous sectors you can choose to specialize in, from residential units to company premises and even land, whether you are an experienced investor or you’re new to the field. But […]
Reasons why DSCR loans for Airbnb are the best way to build your business. Debt service coverage ratio loans are also known as DSCR loans. This sort of loan is designed for real estate investors and places greater emphasis on the asset’s debt service coverage ratio (DSCR) than the borrower’s income. This implies that a […]
People with less-than-ideal financial situations might use an FHA loan to buy a property. First-time homeowners who don’t have enough time to save much for a deposit or pay off all of their bills yet can benefit greatly from this sort of financing. A conventional mortgage isn’t secured by a federal agency, and getting one […]
Since the pandemic, there has been a significant change in how individuals think of where they reside because remote employment has created a whole new range of opportunities. Many people now live where they wish to live rather than where their business just so gets to have an industrial building. They may now “clock in” […]
What is it about Vail, Colorado, that makes it such a terrific place to live? The answer is yes, and it’s important to consider all the reasons Vail is such a beautiful location to call home. There are valid reasons why an increasing number of people every year decide to leave their busy city lives […]
Searching for a new residence for your family may be a stressful and unpredictable process. To select a place to call home whereby each family member feels as they fit, you should investigate the local eateries, cultural attractions, and more. Along with making sure your new house is secure, you want to ensure your children […]
A great place to live is Grand Junction, a bustling city in Colorado’s Grand Valley. Numerous outdoor activities, breathtaking natural settings, a vibrant city, a wide variety of restaurants, and much more are all close by. Our top seven reasons for loving Grand Junction are listed below. Content brief You Won’t Be by Yourself Working […]
Unquestionably, Colorado Springs is one of the most beautiful cities in the United States. Colorado Springs is a place that is a treasure, with stunning mountains and lovely weather. In addition, it is replete with amazing quaint areas anyone would love to live in. The city has a lot to offer people that are looking […]
Everyone enjoys the laid-back atmosphere of Aurora, Colorado, including pensioners, soldiers, immigrants, and millennials. No matter your age group or idea of a good time, Aurora knows how to cater to all. The Rocky Mountains are only an hour’s drive from Aurora, which is in the southern part of Denver. On weekends, you’ll have plenty […]
Originally a classic college town, Fort Collins, Colorado, is now attracting residents of all ages who want to live there, work there, start businesses there, and take advantage of the relaxed yet vibrant lifestyle. At the forefront of several “best of” lists, these days is Fort Collins, which boasts bikeable streets, a burgeoning tech economy, […]
Were you aware that Denver, Colorado, was ranked among the greatest cities in which to live in the country? The expanding city came in at number 14, followed by Madison and San Francisco. And chances are that if you’re reading this, you’ve already thought of relocating to Denver, Colorado. But do you require any further […]
The little town of Durango, located in the southwest of Colorado, is home to an alluring array of historical landmarks and cultural tourism destinations if you are thinking of a mortgage so that landmark is for you. There are several amazing outdoor recreation activities and other exciting things to do when you are living in […]
Boulder was rated “The Happiest City in the United States” by National Geographic in 2017. This description makes sense given the town’s thriving employment market, unrivaled mountain scenery, and happy locals. The choice to relocate to Boulder, a wonderful city, might be a big one. Is it worthwhile, though? Let’s highlight some of the pros […]
The monthly expenditures of high-interest debt can be too much for your budget to handle. Debt consolidation may be the greatest way out of this dilemma for some people. To reduce interest payments, debt consolidation pays off all of your high-interest debt with a single, lower-interest loan. A home equity loan or debt consolidation helps […]
Introduction Take comfort if your plans to purchase a house were delayed due to bankruptcy: If your bankruptcy was dismissed within the last one to two years, you may be eligible for an FHA loan. Contingent on whether you filed a Chapter 7 or Chapter 13 bankruptcy, FHA criteria allow you to qualify for a […]
More often than not, moving into a new house requires some kind of work and customization before it can truly feel like home. Renovations are an important and exciting part of homeownership, but they often come with a hefty expense. An easy way around this problem is a home renovation loan, which provides homeowners easy […]
With government-backed mortgage plans, buying a home without paying a large chunk of a down payment may only seem possible. However, government-sponsored agencies such as Freddie Mac and Fannie Mae have programs that provide low-deposit loans. These are the Freddie Mac Home Possible and Fannie Mae HomeReady mortgage programs. These programs offer a 3% down […]
A cash-out refinance is a popular way for homeowners to access the equity they have built up in their homes. It can be used to consolidate debt, make home improvements, or cover any other expenses. This article will discuss the main reasons people use a cash-out refinance and provide an overview of the different types […]
A cash-out refinance is entirely feasible in Texas if you have adequate home equity. Although Texas’s cash-out refi regulations differ slightly from those in other states, they are no longer as severe as they formerly were. Things are a bit more different in 2022. You ought to be allowed to get your mortgage refinance, and […]
What is a 2-1 Buydown? This mortgage lending program is becoming more and more popular as the economy starts to slow down. In a nutshell, a 2-1 buydown is a program composed of seller concessions to help home buyers obtain a lower initial rate on their new mortgage. 2% lower than the quoted rate for […]
Disability benefits are a vital part of many Americans’ lives. They provide much-needed financial assistance to those who are unable to work due to a disability. Disability benefits can also be used to qualify for a home mortgage. In this blog post, we will discuss everything you need to know about using disability benefits income […]
What is an Opportunity Mortgage Loan? Five Money-saving Strategies Are you looking to purchase or refinance an existing home but are struggling with the idea of taking on a large mortgage? Or, are you trying to find a way to help out a family member who is struggling to get into the housing market? If […]
The 5 biggest mistakes DSCR investors make when buying or refinancing a rental property. 1. Not understanding what a DSCR investor loan is DSCR is a ratio that is used to determine whether a property can generate enough income to cover its debt payments. It is calculated by dividing the property’s net operating income (N.O.I) […]
VA Loan with Bad Credit: Everything You Need to Know If you are a veteran or active duty military personnel and have a bad credit score, you may be wondering if you are still eligible for a VA home loan. The good news is that you most likely are! In this blog post, we will […]
It’s no secret that the housing market is cyclical. What goes up, must come down. And while no one can predict when the next recession will hit, it’s always a good idea to be prepared. If you’re thinking of buying a home in 2022, here are five money-saving reasons why you should consider buying a […]
So What Is A DSCR Loan? Listen to this video to get the 1-minute DSCR Loan basics. How Can You Use A DSCR Loan For Real Estate Investing? DSCR Real Estate investing, when done with the proper strategy and implementation, can lead to great success. The following are 3 pro tips to successfully purchase your […]
Would you like to move to the Sunshine State? Explore your opportunities and learn about Tampa Bay Area, St. Petersburg: Top 8 Neighborhoods in Tampa.
Are you contemplating a move to the Sunshine state? Find out more about your mortgage options and read about buying a home in St. Petersburg FL.
This guide will show you the steps to take when moving through the buying process.
Are you planning to join the mass migration to the Lone Star State? These are the most popular neighborhoods in Austin, right now.
Top 5 Reasons to Choose a Reverse Mortgage in 2022 If you are in the market for a new home then surely you have a decent understanding of how mortgages work. But what are the Pros and Cons of Reverse Mortgage? It almost sounds like you’ll be getting money instead of paying the lender. And […]
What Are DSCR Loans? DSCR Loan In Florida DSCR loan Florida may offer a good option for financing your Florida real estate investment if you can’t qualify for a conventional loan. Many people have been intrigued by the potential of real estate investing to produce a positive cash flow over time. When looking for methods […]
VA Home Loans and Mortgages Providing VA Home Loans in Florida to Veterans and Their Families. Beacon Lending Can Successfully Guide You Through the Home Loan Process Florida VA Home Loan Requirements To qualify for a VA home loan, you must fulfill certain criteria. If you’re not sure whether or not you’ll be approved, contact […]
If the property has been purchased within the last six months, this is allowed to be done. While cash-out refinances have their set of guidelines, delayed financing is a tool that a lot of homeowners are using in today’s competitive real estate market. It is important to note how that six-month period is measured. That […]
Whether you are looking to buy or refinance, you may want to consider asset qualifier loans if you have a large amount of assets and no way to prove a steady income. Borrowers may be under the impression that they are required to have a steady, 2-year work history with paystubs and w-2’s but that […]
The current real estate market in Colorado can actually help provide opportunities for home owners to save money every month by eliminating mortgage insurance. Let us have a look at the current real estate market in Colorado and how, as a homeowner, you might be able to lower your monthly mortgage payments. Colorado’s Real Estate […]
If you would like more information on Reverse Mortgages please click here. Benefits of a HECM While reverse mortgages are often seen as risky since the loan balance does need to be paid back, they do have their advantages. One benefit is that a HECM turns home equity into liquid cash in an easy manner. […]
Beginning June 5th, 2021, Fannie Mae is making it easier to refinance with a program called RefiNow. This initiative is certain to lower interest rate and monthly payments for certain low-income borrowers. Households earning 80% or less of their area’s median income are likely eligible so long as they can meet other requirements. According to […]
If you have come to the conclusion that the best place to invest your money is in rental property, you have made a commendable decision. But what is the next step after that? For most people getting into investment real estate for the first time, would require getting a loan for a rental property. That […]
How divorce affects your credit score is a common concern for many people who have a lot of joint assets. In this article we discuss what you will want to pay attention to if you are going through this challenging time. Dissolving a marriage is challenging in many ways. If you find yourself in this […]
A Mortgage Broker with RCS-D™ designation can be extremely beneficial for anyone trying to purchase a new home or refinance an existing mortgage while going through a divorce. Divorcing couples need to make several decisions when parting ways; what to do with your shared home may be one of them. With the marital home typically […]
DSCR loan are a useful option for financing your real estate investment transactions. Real estate investing has intrigued many people throughout the years for its quick potential to generate a positive cash flow. When researching how to go about financing those investment ventures, you may be wondering what options are available to you. No two […]
Renovation Home Loans Could Be Your Ticket Renovation Home Loans can be an extremely attractive option for home owners in Colorado looking to upgrade their home. Whether you are getting ready to put your home on the market or simply have more time at home due to the COVID-19 pandemic, a renovation home loan can […]
Before you get your heart set on the home of your dreams you will want to make sure you can afford the closing costs on a mortgage. One of the largest barriers preventing people from buying a new home are these closing costs. Viewing the Estimated Cash at Closing on your loan worksheet can be […]
A down payment on a mortgage can be one of the largest obstacles you face as you embark on the journey towards home ownership. Despite what you may have heard 20% is not required. There are a lot of options ranging from 0% to 20% depending on your situation. How much down payment on a […]
It is crucial to know what questions to ask a mortgage broker as you start shopping for a new home. Asking the right questions can help you find a mortgage broker that understands your needs and might save you thousands of dollars over the life of the loan. Can we get a “TBD approval”? A […]
Here are 5 neighborhoods in Denver, CO you will want to consider if you are looking to relocate to the Denver area. These are 5 neighborhoods that are well established and are desirable with good reason. Washington Park Over the past decade it has become one of the most desirable neighborhoods in Denver. It is […]
Understanding minimum down payments on mortgages and how they can work to your advantage is something to consider as you look to secure a home loan. Determining a down payment that is appropriate for you is a big piece of the puzzle and the answer depends on your situation and your goals. There are a […]
Looking to upgrade your home? Energy Efficient Mortgages provide a way for homeowners to make energy efficient upgrades to their home at little to no cost. If you are buying or refinancing a home in Denver, CO with an FHA loan you will want to read this. You could increase the value of your home […]
No income verification mortgage options do exist for people who are not able to provide proof of income through W2’s and tax returns. If you are a real estate investor, entrepreneur, or self employed then you may find these types of mortgage options appealing. After the housing market collapsed in the early 2000’s the Frank-Dodd […]
Reasons to Consider an FHA Loan for a Second Home One reason to think about an FHA Loan for a second home is because you can put as little as 3.5% down. Contrast this to the requirement on a conventional loan that will require a minimum of 5% down on a 2nd home. This can […]
Right now in 2020 we are experiencing historically low interest rates. Taking advantage of an FHA Streamline Refinance in 2020 could save you a lot of money over the life of your home loan by significantly lowering your monthly mortgage payment. What is an FHA Streamline refinance? A streamline refinance is a mortgage refinance on […]
Jumbo (non-conforming) Loan Overview Auto Draft Do you know that a Jumbo loan in 2020 may be easier to qualify for? Jumbo loans are loans that exceed the loan limits of conventional loans, generally above $510,400 in 2020. This varies depending on the county so be sure to find out the exact loan limit amount. […]
There is a lot of information circulating about mortgage forbearance during the COVID-19 pandemic. There are options and it is important for homeowners to educate themselves if they need help paying their mortgage. Below you will find straight forward information about mortgage relief options for homeowners affected by the Covid-19 pandemic in 2020. CARES (Coronavirus […]
It is finally time to buy your first home. This move has been in the making for many years and you are completely excited about the future. You have carefully protected your credit and your score is great. And you earn enough money to keep up with monthly payments. All the boxes are checked, except […]
Purchasing a home is, no doubt, an exciting experience, especially if you are a first-time homebuyer. However, there is one thing that needs your thorough consideration, and that is the “down payment.” According to a survey conducted in 2018 on the rental marketplace, approximately 61.7% of millennials cannot afford a high down payment. However, if […]
How can you get a loan for a new home purchase that is better then a jumbo loan if purchasing a home under $800,000? Simple, use Nationwide High Balance Loans, don’t get a jumbo loan. Rates on a Nationwide High Balance loan are almost a full percentage point better, and you will not have the […]
The VA first time home buyer program is an amazing guaranteed mortgage up to 100% of the purchase price from the Veteran’s administration, and can really jump start your real estate portfolio as you embark on your military career. Whether you are buying, selling, or refinancing your home, the homes for hero program is here […]
Austin, TX is the fastest-growing city in the USA and drives a unique mix of history and culture. Many residents in Austin want to preserve that old feeling in the house that makes this city different and unique. Also, the city’s population is growing steadily, and so are the housing rates. As per Zillow’s estimation, […]
In June 2019, President Donald Trump signed a bill into law that will allow the Department of Veterans Affairs to guarantee loans that go beyond the normal conforming loan amount limit. The name of this new bill, H.R. 299, will allow all eligible VA homebuyers and VA homeowners to borrow, either for purchase or refinance […]
You definitely can buy a home with student loan debt. The type of mortgage you choose to apply for is crucial. If you are applying for a mortgage but have student student loan debt that you think will prevent you from buying a house, read this article first! Most likely you will need to choose […]
Can I Use A FHA Loan For An Investment Property? FHA Loans Denver: What Are They? When choosing a mortgage, many homeowners and future homeowners are caught in a tug of war when picking which loan program is right for their financial situation. The FHA loan is the standard when it comes to giving you […]
This list of construction loan FAQs is a great read if you are thinking about applying for a construction loan. It will help you find answers to questions you have and answers to question you may not have thought about yet. With the ever increasing price of real estate in Colorado for 2020, many future […]
In this article we will discuss The process of Getting a Reverse Mortgage & Busting the Top Myths Associated with It. A reverse mortgage is a home equity loan that is offered to senior homeowners that are 62 years old or above. Rather than making monthly payments to the lender, the borrower receives mortgage payments […]
Many seniors find it difficult to manage their finances because of the absence of a running income. Buying a home at this stage seems to be extremely unlikely as gathering funds become a challenge. While there are many financing options available, all of them will require you to make regular mortgage payments, which is simply […]
3 TIPS TO ACCESS DOWN PAYMENT ASSISTANCE FUNDS ON BUYING YOUR NEXT HOME In a higher interest rate environment, it is imperative that a resourceful Colorado Mortgage Broker have the products available to serve the market extensively for First Time Home Buyers. Increased rates lead to higher payments. A strong housing market leads to higher […]
In 2018 it is now more easier then ever to get a mortgage loan for your self employed business in Colorado. With as little as 2 months bank statements, you might be able to buy the home of your dreams. Yes 2 months bank statements. As long as we have a valid CPA letter with […]
VA Construction Loans You can acquire a VA loan for building the home of your dreams, but keep in mind it is not a necessarily an easy path. You will have to overcome a few hassles and hurdles to fulfill your dream of building a home. Borrowers who are qualified to acquire VA loans can […]
A VA jumbo loan offers military buyers and veterans significant benefits, particularly compared to the standard jumbo loan landscape. However, first, let’s elaborate what “jumbo” is. Although VA loans operate under their specific rules regarding VA loan limits, which are county specific, a majority of lenders in the country still deem anything over $453,100 VA jumbo […]
Veterans Affairs mortgages, also called VA home loans, make it simpler and easier for veterans to secure financing in order to purchase a home. In many cases, VA home loans do not require any down payment. Moreover, these loans are easily available to active military members and military veterans. The loans are available from private […]
The VA loan program has been available for over seven decades. The program offers affordable and convenient home ownership to veterans and active members of the US military. The program has been successful as, to date more than 22 million former and current members of our armed forces received a VA mortgage. Some of the main reasons […]
It is likely that you look at a home and imagine how incredible it would be to buy it. Owning a home means you can do all the things and fully enjoy your home without permission from the landlord. Perhaps, the down payment is holding you back. Alternatively, you may assume that you need to […]
Purchasing your own home is empowering and exciting, to say the least. Gaining the freedom and independence to manage and own a property, just the way you prefer. Eventually, you will have a substantial asset to enjoy in your future. Naturally, this is something a lot of us really aspire to. That said, sometimes things do not […]
A majority of people understands basic mortgages when it comes to securing financing for their home; this is because mortgages are quite simple and nearly everyone has one. In contrast, a home construction loan could be a bit confusing for you if you have never built a new home before. The Basics of Home Construction […]
I am serving up this Q&A in an effort to help consumers during their quest on finding a lender that will work with them, during their CH 13 bankruptcy, so they can purchase or refinance a home. If you have been denied a loan, or working with a loan officer that does not understand the […]
Debt Consolidation Can Make Your Life Easier To Manage Your Finances A Debt Consolidation Refinance uses your existing home equity to consolidate your high interest debt into a loan with a much lower interest rate, which can save you hundreds of dollars each month. [videopress VFzVhCTE] Are you paying more then $10,000 in non-tax deductible […]
We now offer the 1% down mortgage program in Colorado NO this is not a typo. We now offer the 1% down mortgage program in Colorado with Equity Boost to ensure a smooth first time home buying experience for you. This program works very simple. You put down 1%, and we contribute 2% towards the […]
Americans owe over $1.4 trillion in student loan debt, spread out among 44 million borrowers. With the lowest affordability levels in nine years, Colorado’s red hot housing market is putting many of these potential home buyer out of reach to qualify for a new home… until April 25, 2017, when Fannie Mae made their new […]
Be Prepared with the Following Information to Help Get You Approved You want to buy your first home, an investment property, or maybe even complete some renovations that you’ve always dreamed of doing. If you don’t have the finances, you’re going to want to find a mortgage broker in Denver you can trust to guide […]
How high can this real estate market go? Did you hear what they are building in such and such neighborhood? My neighbor just sold his home for a huge profit. And on and on. These are very common questions I hear every single day, and as a Colorado Mortgage Broker it is integral to my career […]
This article is to clear the smoke and mirrors many people who are looking to buy a home usually question right away. Do you have any “no money down” programs? Are there Denver loans for “first time home buyers”? Any FREE money out there I can get? Answer: YES, there are down payment assistance programs. […]
Benefits of a Home Ready Mortgage Home buying is at a 60 year low. The millennial market represents a huge market in purchasing power, however they are postponing home ownership due to student loan debt, travel experiences, and no money being able to be put aside. In an effort to create a new program that […]
Benefits of the CHFA Grant Program As rent in metro Denver continue to climb, home ownership is at a 60 year low. As of September 2016, the average rent for a one bedroom in Denver is $1383 and a 2 bedroom is $1768. Colorado is one of the hottest real estate markets in the country, […]
A mortgage is one of the biggest things Americans will pay off in their lifetime. Just because you already have a mortgage plan doesn’t mean you are locked into it for the duration of its life. Many people choose to refinance a mortgage for many different reasons. A Denver mortgage broker like myself can show […]
Many people have asked me over my career, “Why would I use you”?, “What exactly do you do”?, “What makes you different from the next guy”? My answer is simple, and I speak more for the mortgage broker community, versus myself directly. We get the job done. We take on the loans the bank can […]
Due to the rise in home prices in 2015, and the steady increase in valuation, FHA and Fannie Mae have both increased the maximum loan amounts in many counties nationwide. I have provided links below for the change in Colorado, which will be a pleasant surprise to many buyers who now can opt to finance, […]
Purchasing a home from a family member in Colorado can save you thousands of dollars in closing costs, and also continue to retain a property with the family over the years to follow. In most cases, these purchase loans are done with no money down from the buyer, who more then likely will be the […]
In my 13 year career as a mortgage broker in Denver, I have seen many ups and downs of the housing market, but one question I am continuously asked to this day is in two parts. Why should I use you? and What’s the difference between a Colorado mortgage broker and mortgage banker. To the […]
I am happy to announce The Mortgage Network’s ability to now do Commercial Lending. This should prove to be a huge benefit to many individuals looking to purchase commercial property. We can service loans anywhere from $100,000 to $250,000,000 million. Our proprietary portal of lenders will definitely prove to be a tremendous value to anyone […]
Talk to most mortgage lenders, whether brokers or bankers, on the retail or wholesale side, and they will give you some very basic loan options once they pull your credit score and find out how much you have to put down on a home mortgage when you are in the process of getting pre-qualified for […]
It is no question that Colorado is one of the hottest markets in the nation to live right now. I have been getting many phone calls of people wanting to know what it would take to get qualified for a home loan. For most, it is quite simple, especially if you are remaining employed with […]
It is no question that the real estate market in Colorado is hot! hot! hot! This can frustrate many buyers who show up to an open house with 10 other buyers, and a seller who is only interested in highest and best offer. It is definetely a seller’s market out there, and that can really […]
USDA Rural Development’s Single Family Housing Direct Loan Program provides loans to assist low and very low income families in rural area’s achieve their dream of home ownership in Colorado. This is a 102% max LTV loan with absolutely no money down. The properties under USDA have to be located in a rural area, and […]
It is no question that Colorado is on the map as the top places to live in 2014. Rental prices have absolutely skyrocketed the last five years, with home prices continuing to rise as well. For the homeowner, they are feeling the recovery and getting back the equity they lost in the Housing Crisis. They […]
A great mortgage program here in Colorado that has always been around for quite some time, is the Family Opportunity Mortgage program. Not many people inquire about it, however it can literally save you tens of thousands of dollars upon the purchase of a home, and even more in interest over the life of the […]
FHA has recently introduced a new FHA program for borrowers with less then good credit. This will greatly open up the floodgates to people who could not qualify for a new home mortgage in the past. Some of the highlights of this program are the following. FICO scores down to a 500. 1 score is […]
An FHA loan program that is flying under the radar since August 2013 can help many previous homeowners who were a victim to the recession, or experienced unemployment or other severe reductions in income, a second chance in obtaining a home loan, without having to wait the standard 2 -3 years, if they have filed […]
Aside from your standard Single Family Residence, Condo, and Townhome, there are 2 other types of home that will come up while you show your buyers property. It is important that you understand these types of homes, and the traditional types of financing involved for manufactured, prefab, and mobile homes, and more importantly, the lenders […]
Depends on who you talk to. If you talk to a retail banker with only a couple of loan products, they will tell you NO. If you talk to a correspondent lender with more loan products available then a retail banker, they will tell you NO If you talk with a mortgage broker, with knowledge […]
Speak to 99% of Real Estate Professionals and they will all tell you the similar response when asked how long it takes after short sale to get a mortgage. “3 years”. While that has truth to it, it does depend on your unique situation and what kind of loan that you have. This article discusses […]
FHA 203K Rehab Lending For Your Next Purchase or Refinance Private money lending is GREAT! I love the concept of being able to borrow money at 10-12% with 4 points, for a period of 6 months. After that, I love it more when the lender penalizes me each month thereafter until I am able to […]
Recent Changes to Reverse Mortgages Recently, there have been a lot of changes in the reverse mortgage market in Colorado, and other states in the U.S. This has led to speculations amongst people as to what the HECM home equity conversion mortgage – product will be like in 2013. The HECM mortgage product is programmed […]
Purchasing your first home is not an easy task and can be very stressful. A lot of things need to come together to be able to make the purchase. For example, you’ll have to talk to a lot of people and complete an ample load of paperwork. However, first and foremost, you should understand that […]
It is no question that FHA is getting worse and worse to deal with. On April 1st, 2012 what used to be a 5 year requirement for already expensive mortgage insurance, will be changing to a 30 year requirement for FHA loans. Forget the 78% LTV requirement, or having 20% equity in your home. It […]
aka (HECM) Home Equity Conversion Mortgage You can apply for a Reverse Mortgage when you become 62 years of age. You have worked very hard to own your home, and the Reverse Mortgage can be a great way to help supplement your retirement income. The Reverse Mortgage is designed for many different purposes as you […]
HARP 3.0 is what people in the industry are calling, is what Obama was referring to last night, in his State of The Union Speech. Every Responsible Homeowner who is able to make their mortgage payments, will be eligible for a refinance, regardless of what the home is worth. Watching the State of the Union […]
When applying for a loan, there are specific documents you need to bring in order to be considered. Sometimes it is a little unclear about what to bring, so below I have written a little bit about each document needed. There are many types of home loans so the requirements might vary depending on which […]
I know how hard it is to find the best lender for a Harp 2.0 loan. Since you are not obligated to use your original lender to obtain a refi under Harp 2.0, you get to make the choice of which broker of bank leader you use. I have listed several easy tips to help […]
In this day and age, loans can be an extremely confusing fact in life. One loan that has been coming under question recently is the Harp 2.0 loan. With many confused loan holders, there has been many questions regarding this loan and to how it works. What is the Harp 2.0 Loan exactly? The HARP, […]
Well that is not the exact title of it, however with all of these new programs being created the last few weeks, a 25 billion dollar bailout being created, and the President of the United States calling for a 4% refinance for every homeowner who is upside down on their mortgage, you might as well […]
HARP loans right now are making up a majority of the origination activity for refinances simply because millions of homeowners are upside down on there home loans, and have not been able to get the relief they have been looking for until recently. One of the factors that have been preventing these homeowners from refinancing […]
In my humble opinion, the answer is yes. I take Colorado mortgage refinance applications every single day on this particular kind of loan, and I consider myself an advocate in helping my clients get the answers they need, and more importantly, lining them up with the correct mortage lender for their specific HARP 2.0 refinance. […]
On October 24th of 2011, the Federal Housing Finance Authority (FHFA) annouced a key update to the already struggling Harp program, entitled HARP 2.0. It has taken a couple of months for my wholesale lenders to intrepret the laws regarding this program, and what guidelines they will have in place for you to refinance your […]
FHA has tripled their mortgage insurance premium over the last year and a half to 1.15%. On a $300,000 loan with 3.5%, you will be paying $287.50 a month for a minium of five years, which equates to $17,250. In my opinion, this is a complete waste of money for you to spending. A much […]
Hiring a General Contractor is the most important step in putting together your rehabilitation FHA 203K Loan. The final bid contract estimate will be the ultimate driver in determining what your after improved equity situation will actually be. The numbers are crucial in putting together a project with enough after improved value, so that you […]
When you do FHA 203K Loans as either a purchase or a refinance, and have over 35K in renovations, either structural or not, you have to have a HUD Consultant, approved by FHA to monitor your rehab project, but more importantly, sign off on the initial general contractor bid, before the loan goes into underwriting. […]
The FHA 203K loan has been around since the 1970’s however the reason why you don’t hear about alot of them being done, is either the borrower is aligned with an in-experienced loan officer, who does not want to take on the challenge of additional work and time to close, or you just don’t know […]
With rising interest rates looming on the horizon, it is a safe bet that refinancing activity will be diminishing over the next couple of years. In addition, many strongly believe, including myself, that in some pockets of Colorado, there is no strong bottom on this market. Foreclosures are prevalent, and this will cause to bring […]
It is no question that the mortgage industry has been evolving and constantly changing since the subprime crisis hit in 2007. One of the best loan programs, still available is the FHA loan. This is possibly the best home loan program for a first time home buyer with limited access to financial assets. Here are […]
