Posts Tagged ‘mortgage’
Unlocking the Power of a DSCR Home Loan
Unlocking the Power of a DSCR Home Loan Features of a DSCR Loan Qualification Based on Property Cash Flow Approval is based on the property’s income potential—not your personal income. The key metric is the Debt Service Coverage Ratio (DSCR), which compares the property’s net operating income (NOI) to the proposed debt payment. Flexible DSCR…
Read MoreThe Power of Bank Statement Home Loans
The Power of Bank Statement Home Loans Key Benefits of Bank Statement Loans No Tax Returns Required Instead of tax returns or W-2s, you qualify using 12–24 months of personal or business bank statements. Ideal for Self-Employed Borrowers Perfect for business owners, freelancers, and gig economy workers who may write off significant expenses on…
Read MoreMortgage Payoff Hack
Mortgage Payoff Hack If you’re looking to pay off your mortgage faster, here are some smart “mortgage hacks” that can help you save on interest and become debt-free sooner: Biweekly Payments Instead of making one monthly payment, switch to a biweekly payment schedule. This results in 26 half-payments per year, which equals 13 full…
Read MoreMortgage Tips
Mortgage Tips Want to save big on your mortgage? Make it automatic! Set up bi-weekly automatic payments and watch your savings grow over time. Here’s how: Automatic Biweekly Payments Split your monthly payment in half and pay every two weeks. You won’t feel much of a difference on your budget, but you will see your…
Read MoreGreat News For FHA Buyers
Great News For FHA Buyers Hot off the press!!! FHA just announced the reduction of the monthly mortgage insurance premium!! This is great news for FHA buyers because this will give homebuyers more home buying power and monthly savings. FHA monthly mortgage insurance premium will be reduced from .85% down to .55% for loan amounts…
Read MoreUnlocking The Secrets of Mortgage Loans
Unlocking The Secrets of Mortgage Loans A mortgage loan is a loan used to purchase a home. The loan is secured by the property itself, giving the lender the right to take ownership of the property if the borrower fails to make payments. Mortgage loans are typically long-term loans, with a repayment period of 15 or…
Read MoreWhat are impounds?
An impound account, also known as an escrow account is required on VA and FHA loans but is optional on all Conventional loans with a minimum of 5% down. An impound account is an account set up to include taxes and insurance within the monthly mortgage payment. When the impound account is initiated (usually when…
Read MoreWhy FHA loans are a great option
Why FHA loans are a great option Why FHA loans are a great option. FHA loans were created to help prospective home buyers purchase a home with little down and to help those with less than perfect credit. FHA loans are insured by HUD which is the government. FHA loans are a great option because:…
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