Home Buying · Understanding Mortgages
January 15, 2020
If you’re in the market for a new home but don’t have time to wade through scores of applications or shop around for the best mortgage rates and terms, a […]
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Ask Tim · Conventional Loans · FHA Loans · Private Mortgage Insurance
January 7, 2020
Q: I have good credit of about 730. I meet the requirements for both FHA and Conventional 97. I plan to live in the home for 6+ years. Which has […]
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January 2, 2020
The short answer is changing jobs can affect your loan approval. From your lender’s perspective, your employment history and income are paramount to your ability to make your payments. That […]
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January 2, 2020
Lender after lender talks about how great VA loans are. But to be eligible for one of these VA-guaranteed loans, you still need to meet credit and income standards and […]
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Conventional Loans · Home Buying
January 1, 2020
Also known as conforming loans, conventional loans “conform” to a set of standards set by Fannie Mae and Freddie Mac. Conventional loans boast great rates, lower costs, and homebuying flexibility. So, it’s […]
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Home Buying · Understanding Mortgages
December 16, 2019
When you’re asked to write a letter of explanation by a mortgage underwriter, look at this as a valuable opportunity to clearly communicate your situation. The letter of explanation may […]
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FHA Loans · Home Buying · USDA Home Loans · VA Home Loans
December 4, 2019
100% financing home loans are essentially no money down home loans — they’re mortgages that finance the entire purchase price and eliminate the need for a down payment. Large down […]
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FHA Loans · Mortgage Strategy · Refinance
November 21, 2019
Mortgage interest rates are at historic lows across all major loan types. Ellie Mae’s October 2019 Origination Report stated FHA loans are no exception — average mortgage interest rates decreased […]
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November 18, 2019
Commonly known as VA home loans, mortgage loans backed by the Veterans Administration offer Veterans and active-duty servicemembers a way to buy a home with zero down payment and lenient […]
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November 15, 2019
The FHA streamline refinance program helps current FHA homeowners lower their interest rate and monthly payment — it’s a quick and cost-effective way to refinance with lenient documentation requirements and […]
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Mortgage expert Tim Lucas has been helping home owners for over 12 years.
