October 2, 2019
In 2018, the VA guaranteed 610,512 home loans. In 2019, it celebrated its 24-millionth borrower. It’s easy to see why these mortgages are so popular. Not only are they available […]
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May 15, 2019
Editor’s note: The 2017 changes are still in effect in 2019. According to Ellie Mae, more lower-credit FHA applicants are being approved. In July 2016, only 19% of closed FHA loans […]
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March 27, 2019
Mortgage terminology can be confusing whether you’re a first-time homebuyer or looking to refinance your current loan. From mortgage terms like amortization to PITI, chances are you’ll come across a […]
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March 5, 2019
Editor’s note: Starting September 1, 2019, HUD, the administrator of FHA loans, reduced the maximum FHA cash-out refinance loan-to-value to 80%, down from 85%. What is an FHA cash-out refinance? […]
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February 28, 2019
Mortgage closing costs range from 2-5% of a home’s purchase price. That can add up. But, many sellers are eager to pay your closing costs in order to sell their home […]
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Home Buying · Private Mortgage Insurance
January 25, 2019
Private mortgage insurance, also known as PMI, is a type of mortgage insurance common with conventional loans. It’s intended to protect the lender if you stop making your loan payments, […]
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Ask Tim · Credit · Home Buying
January 15, 2019
Buying again after a foreclosure, short sale, or deed-in-lieu of foreclosure can be done, with some hard work — and waiting. Lenders don’t like to see a foreclosure on your […]
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Conventional Loans · News · Refinance
January 2, 2019
A conventional refinance is the loan of choice for many homeowners in today’s market. While HARP and FHA have dominated the refinance market in years past, the standard conventional refinance is becoming […]
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Conventional Loans · Home Buying · News
January 2, 2019
Home buying just got a lot easier. Fannie Mae and Freddie Mac, the country’s two main mortgage rule-making agencies, now allow home purchases with just a 3% down payment. The 97% […]
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June 21, 2018
Putting Investment Property Equity To Work Cash out refinancing for primary residence (owner occupied) homes are gaining in popularity, but so are cash out loans for investment properties. While they […]
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Mortgage expert Tim Lucas has been helping home owners for over 12 years.
