Mortgage News, Tips and Resources

Determining you’re ready to buy a home, connecting with a knowledgeable real estate agent, paying attention to interest rates, and learning about the different loans available are critical steps in shopping for a mortgage.

To find a VA-approved condo, ensure you qualify, determine via the department's website whether the condo is approved, and consider contacting a reputable mortgage lender for guidance.

5 helpful tips to remember when you are moving into a new home.

7 Important items that will help you when you move into your first home.

FHA flipping rules regulate the buying and selling of homes for profit, and include transfer and resale timelines and documentation.

Learn when refinancing a reverse mortgage makes sense, FHA HECM refinance rules, and how home value changes may affect eligibility.

TRID, short for TILA-RESPA Integrated Disclosure Rule, is a federal mandate combining and clarifying disclosure forms mortgage lenders provide borrowers.

First-time Long Island home buyers should seek assistance from mortgage pros, learn about different loans, plan ahead, and understand the closing process.

There are multiple factors that determine how much home you can afford, including your income, debt-to-income ratio, property taxes, homeowner’s insurance, and other monthly expenses.

Several of the best first-time home buyer programs in Florida include Housing Finance Agency (HFA) Preferred, Florida Housing Mortgage Credit Certificate Program, Federal Housing Administration (FHA), and U.S. Department of Veterans Affairs (VA) loans.

Several first-time home buyer myths include the misconceptions that you should find a home to buy before applying for a loan, there is only one loan you can apply for, and you need 20 percent down, among others.

USDA and FHA loans are both federal programs assisting low-income families and home-buyers obtain mortgages, with two important distinctions: USDA loans specifically cater to those within rural and suburban areas, while FHA loans are open to all applicants, regardless of finances or geography.

Several popular home loans for low-income families include HomeReady, Home Possible, Conventional 97, piggyback mortgages, FHA, and USDA loans.

VA home loans don’t have a limit, are only available through lenders, must be used for primary residences and eligible to surviving spouses, and require a Certificate of Eligibility.

Applicants must meet several FHA loan requirements. This includes providing documentation of a stable employment, income and credit history, and the ability to afford 3.5 percent down.

FHA 203(k) loans help cover the costs of purchasing a home in need of work and renovating it. They also aid in refinancing and renovating a borrower’s current home.

There are mortgage options with little or no down payment. These include FHA and VA loans, as well as HomeReady (Fannie Mae), HomeOne and Home Possible Mortgages (Freddie Mac). Conduct the proper research, consult with an expert, adhere to the requirements, and apply.

To choose the right mortgage company, check online reviews and ask people you know for recommendations. Be sure to contact multiple lenders and compare their loan rates, as well.

There are several USDA loan. You must buy a property in a rural area, which will be used as your primary residence. There are also income and credit requirements.

The Federal Housing Administration (FHA) insures FHA loans, but they don't actually provide them to borrowers—only certain mortgage lenders do. You can find out which lenders are FHA-approved in your area by visiting the Department of Housing and Urban Development’s official website.