Tim Lucas

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FHA Loans · Home Buying · Understanding Mortgages

Buying a Fixer Upper: What Kinds of Fixer Upper Loans are Available?

March 17, 2020

There are quite a few loan options available to buy fixer upper homes. “By buying a fixer-upper, you can definitely increase the value of the home as it appreciates and […]

Remove a Co-borrower with an FHA Streamline Refinance

Ask Tim · FHA Loans · News · Refinance

Can I Use an FHA Refinance to Remove a Borrower?

March 17, 2020

The FHA streamline refinance allows borrowers to reduce their rate with no pay stubs, no W2s, and no appraisal. But is an FHA streamline possible while simultaneously removing a borrower from […]

Wide green front lawns in traditional suburban residential neighborhood

Home Buying

5 Surprising Income Types Mortgage Lenders Still Allow

March 13, 2020

The news is inundated with stories of lenders making it tough for some borrowers to qualify. While that happens, lenders still allow applicants to qualify with some downright odd types of […]

Parents can Buy a Home for a Disabled Child

Home Buying · Understanding Mortgages

The Best Way to Buy a Home for a Disabled Adult Child

March 13, 2020

Typically those who buy a home can only take advantage of the best interest rates and terms if it is an “owner occupied” property, meaning they plan to live in […]

Buying a home with less than 20 percent down

Conventional Loans · FHA Loans · USDA Home Loans · VA Home Loans

Mortgages That Don’t Require A 20% Downpayment

March 9, 2020

Low Downpayment Mortgage Options Many home buyers believe they need a 20% downpayment to buy a home. This misconception could stop buyers before they start, and cost them years of […]

Home Buying · Understanding Mortgages

Borrowing from your 401k or IRA for a Down Payment

March 9, 2020

Saving up money for a down payment and closing costs to buy a house is one of the basic requirements in order to qualify for a home loan. It can […]

FHA Loans · Refinance

FHA Cash-Out Refinance: Access Your Home Equity

March 5, 2020

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? […]

FHA Loans · Mortgage Strategy · Refinance

FHA Streamline Refinance: Negotiate Zero Out-of-Pocket Closing Costs

March 5, 2020

Mortgage interest rates are at historic lows across all major loan types. Ellie Mae’s January Origination Report stated FHA loans are no exception — average mortgage interest rates decreased to […]

Conventional Loans · News · Refinance

Conventional Refinance Rates, 2020 Loan Limits and Guidelines

March 5, 2020

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 […]

happy-couple-discussing-seller-paid-closing-costs-with-loan-officer

Home Buying

Seller-Paid Closing Cost Maximums for Conventional, FHA, VA, & USDA Loans

March 5, 2020

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 […]

Category:

Buying a Fixer Upper: What Kinds of Fixer Upper Loans are Available?

Can I Use an FHA Refinance to Remove a Borrower?

5 Surprising Income Types Mortgage Lenders Still Allow

The Best Way to Buy a Home for a Disabled Adult Child

Mortgages That Don’t Require A 20% Downpayment

Borrowing from your 401k or IRA for a Down Payment

FHA Cash-Out Refinance: Access Your Home Equity

FHA Streamline Refinance: Negotiate Zero Out-of-Pocket Closing Costs

Conventional Refinance Rates, 2020 Loan Limits and Guidelines

Seller-Paid Closing Cost Maximums for Conventional, FHA, VA, & USDA Loans

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