Top Reasons a House is More Than an Investment

Purchasing a home can be one of the most rewarding and meaningful transactions folks will ever be a part of. Outside of the obvious reasons for owing a home (shelter from the elements, more space for a growing family, shortened commute to work/school/family, etc.) using your home for its investment aspects is especially attractive given current rates and market conditions. I ...

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Automated Underwriting and The Home Mortgage Process

If you have relatively good credit, today’s automated underwriting systems provide a list of only the documentation that is necessary to satisfy the lender. The way it works is that once the lender has your application and has pulled your credit, the file is uploaded to one of three locations, Fannie Mae, Freddie Mac or possibly directly to one of hundreds of lenders. “Fannie and Freddie” are quasi governmental agencies that set the guidelines that dictate whether a ...

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Home Down Payment Options

If you believe that you need a good chunk of change to purchase a home, your not alone. The vast majority of first time home buyers have little money to work with and consequently do not believe they are in a position to buy a home. Either that, or credit issues prevent you from investigating the possibilities. But times have changed.

A standard conventional loan will always require that the buyer contribute a ...

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Do I Need a Large Down Payment?

This is probably the biggest misconception. While it used to be true that you needed a large down payment, this is no longer the case. In the mortgage industry, there’s always a great new product just around the corner that benefits the consumer.  The latest of these to surface is the “zero down” mortgage. This mortgage seems to suit two decidedly different types of borrowers:

Let’s take a look at them individually:

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