VA Mortgage Loans in Maryland A VA (Veterans Administration) guaranteed home loan is the preferred loan program for active, non-active, Reserve, National Guard, and retired military of the armed forces because there is no down payment needed and no private monthly mortgage insurance required in Maryland. VA mortgage loans can be used towards purchasing a [...]
Knowing what questions to ask your Maryland lender during or before the loan application process is essential for making your mortgage approval process as smooth as possible. Many borrowers fail to ask the right questions during the mortgage pre-qualification process and end up getting frustrated or hurt because their expectations were not met. Here are [...]
Come to our Maryland Home Buyer Workshop on April 5th or April 7th at 7pm. In just 60 minutes, you will receive the knowledge you need to buy in today’s market. Prospective buyers in Maryland will receive a realistic preliminary estimate of costs and required down payment and a mortgage pre-approval letter you can take to [...]
The preliminary information given during pre-qualification and the subsequent documentation provided at application are extremely important to ensuring a smooth transaction. The more detailed and thorough you can be, the easier your FHA loan approval will be.
Where is Your Credit Score? Buying a new home is St. Charles, St. Louis or anywhere has become very difficult for home buyers who are credit challenged, this is a recent development as mortgage underwriting has tightened to reduce supposed risk. Until recently, FHA never had a credit score requirement that lenders had to adhere [...]
FHA Mortgages, Loans From Family With Down Payment Assistance for FHA Mortgages becoming a bit more difficult to find. Another source of funds for down payment to buy a home is a LOAN from an immediate family member. That is right. This a little known FHA underwriting guideline that is allowed. However, not all Mortgage Lenders [...]
The VA requires both the sellers and buyers to execute an amendment, to the California residential purchase agreement, which acknowledges that the valuation is ultimately determined by a Notice Of Valuation (NOV). A LAPP-approved VA underwriter examines the residential appraisal report, prepared by the VA-assigned property appraiser, and issues the NOV. This is a document [...]
As a Residential Mortgage Specialist primarily concentrating on the FHA loan product line, I receive phone calls daily from people who are interested in purchasing a home for themselves. I am finding that most people have heard of an FHA mortgage, but don’t necessarily or truly understand the A-B-C’s of qualifying for the mortgage itself. Purchasing a [...]
There are two different types of 203K Loans available to borrowers in Maryland. They are a Streamline 203K and a Full 203K. Some characteristics of a Maryland Streamline 203K are: Limits the types of repairs that can be done, but there is less documentation involved Can go up to $35,000, which must include the contingency [...]
FOR BORROWERS IN MARYLAND WHO: Want an alternative to a 2nd mortgage Are looking for a cost effective way to repair or improve their current home in Baltimore Plan to purchase a home with repair contingencies in Maryland Want to rehab a damaged foreclosure in PG County Maryland WHY IS FHA 203K A GOOD IDEA [...]
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