There are many uses for an FHA loan.  An FHA loan is not just for buying your first home, but for remodeling purposes, investing in investment property or fixing it up.

FHA is the Federal Housing Administration.  It is not a …

So you want to buy a home, you have your offer accepted by the seller, the boom the lender says “no way”  Now you are very upset.  The seller is upset. You don’t get to purchase your home all because …

Refinancing your mortgage is the act of replacing your current mortgage loan with a new one.  You basically will follow the same process your went through when you obtained your original loan.  Refinancing can help you to lower your monthly …

A subprime mortgage works well with someone who has bad credit.  Subprime loans require a larger down payment and a higher interest rate.

Make sure you study the specific terms of the subprime loan.  You may be able to refinance your …

A direct lender funds their own loans. Direct loans can be offered by big lenders to smaller institutions.  Banks and savings and loans have deposits that they can fund loans with.  Though most times they will usually have warehouse lines of …

Is there a “best” lender?

Probably and probably not.  Everyone has a different opinion, your realtor used to recommend portfolio lenders, now they use mortgage bankers and mortgage brokers.  A realtor will most likely steer you in the direction of a …

So we talked about Ginnie Mae, Fannie Mae and Freddie Mac.  Well, once they purchase the “pools” they break them down into smaller ownership parcels.  These are called “mortgage backed securities”. Each security represents a small ownership interest in the …

If you plan on using stock etc. for your down payment you will need to provide the lender with proof of your stock.  You can provide them with the statements you receive from the brokerage firm.  You will probably need …

Was this title long enough for you?

Can family members be of assistance? sure! but - your lender requires it to be in the form of a “gift”.  Your lender does not want to know that you need to pay this …

OK just so you know, you aren’t allowed to borrow money to come up with your down payment.  Except - if the loan will be secured by some other asset. 

What do I mean - if you take out a home …