Tim Lucas
Tim Lucas (NMLS #118763 ) is an editor of MyMortgageInsider.com. He has appeared on Time.com, Realtor.com, Scotsman Guide, and more. You can connect with Tim on his website, ThisIsMortgage.com.
Articles by Tim Lucas
FHA Loans · Home Buying · News
Should FHA Loans Have Income Limits?
January 1, 2024
Federal Housing Administration (FHA) mortgage loans were originally introduced so that those with less than 20% down could buy a home. Generally, those with a small down payment are lower-income […]
Read More...
Home Buying · Understanding Mortgages
What is an Adjustable Rate Mortgage (ARM)?
August 31, 2023
When the housing market collapsed in 2008, adjustable-rate mortgages took some of the blame. They lost more appeal during the pandemic when fixed mortgage rates bottomed out at all-time lows. […]
Read More...
Home Buying · Understanding Mortgages
Permanent vs Non-Permanent Resident Alien Mortgage Options
July 20, 2023
Residents with green cards and work visas can qualify for a U.S. mortgage even if they are not U.S. citizens. In fact, these home buyers can qualify for government-backed and […]
Read More...
Mortgage Rates · Understanding Mortgages
5-Year Fixed Mortgage Rates & Loan Programs
June 30, 2023
Fixed mortgages with shorter terms can create incredible interest savings. Not a lot of lenders offer short-term mortgage loans. The good news is you can create your own 5-year fixed-rate […]
Read More...
Can I Refinance If I’ve Had a Late Mortgage Payment?
June 30, 2023
Question: Is there any way to refinance if we had a late payment on our mortgage six months ago? So far no one will approve us until a year has […]
Read More...
Conventional Loans · Home Buying
Buy & Repair a Home with Fannie Mae’s HomePath Renovation Mortgage
November 15, 2022
Editor’s note: Fannie Mae discontinued the HomePath program on October 6, 2014. Buyers must have had a completed home purchase contract dated on or before this date to use the […]
Read More...
Conventional Loans · Home Buying
Fannie Mae HomePath: 5% Down Payment, No Appraisal, No PMI
November 15, 2022
Editor’s note: Fannie Mae discontinued the HomePath program on October 6, 2014. Buyers must have had a completed home purchase contract dated on or before this date to use the […]
Read More...
Assumable Mortgage: Big Advantage for Buyer and Seller
November 15, 2022
Most home buyers today apply for and, hopefully, are approved for their mortgage. They are subject to current lending standards and interest rates. But a few buyers can simply take […]
Read More...
Why does getting a mortgage take so long?
November 15, 2022
Getting a mortgage loan means you’ll likely experience every possible emotion. Unfortunately, a word commonly used to describe the home loan process is “stressful”. When buying or refinancing a home, […]
Read More...