Category Archives for "Market Outlook"
Exploring Mortgage Options: Getting a Home with 10% Down and No PMI
When you’re dreaming of owning a home, one of the biggest hurdles can be the down payment. Traditionally, lenders have required a 20% down payment to avoid Private Mortgage Insurance (PMI). However, for many potential homeowners, saving up that much money can be a daunting task. The good news is that there are mortgage options […]
Continue reading“Court Approval: Gibson and UMPA Lawsuits Merge – The New Phase in Mortgage Litigation”
The pair of legal actions were initiated in Missouri with identical defendants named in both cases. They are currently under the jurisdiction of Judge Stephen R. Bough.
Continue reading“Settlement Reached: At World Properties Resolves Commission Lawsuits”
The financial terms of the settlement were not revealed by the company based in Chicago.
Continue readingUnderstanding Secondary Mortgage Options: Leveraging Home Equity Effectively
Introduction Homeowners looking to leverage the equity in their homes have several financing options available, each with unique benefits and considerations. This post explores secondary mortgage options like second mortgages, home equity lines of credit (HELOCs), and cash-out refinances, detailing how these can be strategically used for different financial needs. Secondary Mortgage Options Explained 1. […]
Continue readingWhy Your Credit Score Might Drop After Paying Off Debt
When you pay off debt, you might expect your credit score to rise immediately. However, sometimes, the opposite happens—a confusing and frustrating drop. Understanding why this can occur is crucial for managing your credit health effectively. Here’s what you need to know: 1. Closing Credit Accounts Reduces Your Credit Utilization Ratio Your credit utilization ratio, […]
Continue readingFannie Mae HomeReady®
Introduction The Fannie Mae HomeReady® mortgage is designed to facilitate homeownership among low-to-moderate income individuals by offering flexible financing options, including low down payments and diverse income considerations. Program Features Eligibility Criteria Application Process Benefits Conclusion The HomeReady® mortgage by Fannie Mae offers an opportunity for individuals with moderate incomes to own homes through accommodating […]
Continue readingFreddie Mac Home Possible®
Making Home Ownership Accessible to low-to-moderate Income Borrowers! Introduction The Freddie Mac Home Possible® mortgage is tailored to assist low-to-moderate income borrowers in achieving homeownership. It offers flexible funding options, including low down payments and cost-effective mortgage insurance options. Program Features Eligibility Criteria Application Process Educational Component Borrowers are required to complete the CreditSmart® educational […]
Continue readingQualifying for a Mortgage with Student Loan Debt
The journey to homeownership is filled with excitement and dreams of a future in a space you can call your own. However, for many aspiring homeowners grappling with student loan debt, the path seems fraught with obstacles. The key concern? How student loan debt impacts your ability to qualify for a mortgage. But fear not! […]
Continue readingNavigating Gift Funds for Your Home Purchase: A Practical Guide
When it comes to buying a home, assembling the necessary funds for your down payment and closing costs can be a substantial hurdle. This is where gift funds come into play, offering a helping hand from family or friends to make your homeownership dreams a reality. However, navigating the acceptance of these funds requires an […]
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