What is a USDA Loan?

USDA loans are zero-down-payment mortgages for rural and suburban homebuyers and they are typically for borrowers who can't afford a traditional mortgage. If you feel more at home out in the country, you may be able to achieve this dream of living out in the country thanks to the U.S.…

Can Refinancing Hurt My Credit?

By refinancing your mortgage you can create a great opportunity to save money on your monthly payments by getting a lower interest rate. Since the interest rates have fallen over the years or if you have worked hard to improve your credit score, you could benefit from refinancing. How Refinancing…

3 Alternatives to Foreclosure

If you have missed a few mortgage payments, a foreclosure may be on your mind. However, there are several options you have when you can no longer afford your house.Ā First, and probably the most important step is to contact your lender. By letting them know that you are aware of…

4 Steps in a Foreclosure

Foreclosures are not something that anyone wants to go through and yet around 250,000 new families go through it every 3 months. So what actually happens during the foreclosure process and does it mean a lender will take your home? Default Homeowners have to first default on theirĀ mortgage to get…

How to Qualify for an FHA Loan

FHA loans are growing in popularity because of the many benefits they offer to first-time home buyers. So with so many people interested in them, here is a list of things that FHA loans require. Minimum Down Payment of 3.5% If you go with a conventional loan it is recommended…

How Long is a Mortgage Pre-Approval Valid?

We have all probably heard just how important it is to get pre-approved before doing some serious home shopping. However, those pre approval letters do have an expiration date. How Long Does the Pre-Approval Last? The actually can vary from lender to lender. However, most letters expire after 90 days.…
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