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Mortgage Interest Rate Report – Week of 9/8
Mortgage update: Waller hints at a rate hike break Mortgage interest rates dropped last week after three weeks of record-high rates. The question we’re all looking at going into the month is: Will the Federal Reserve skip the interest rate hike in September? Federal Reserve Governor Christopher Waller said this week that recent strong economic data will…
Read MoreHow much money you need to make to afford a $600,000 home in September 2023
For first-time homebuyers, settling on the “right” time to buy feels like a losing game—especially in this current market. High inflation, steep interest rates, and a short supply of new homes have made the road from renter to homeowner more challenging. But the good news is that no matter what’s happening with the economy, there are…
Read MoreBank Statement Loans
Our Bank Statement Loan Program is an excellent tool designed to cater to self-employed borrowers who may struggle to qualify for traditional mortgage loans due to their unique income streams. These loans rely on bank statements, rather than tax returns or W-2s, to verify income–providing a more accurate reflection of your client’s true earning potential.Why…
Read MoreUnderstanding Homeownership Benefits
Homeownership offers a wide range of benefits, both financial and non-financial. Here’s a list of some of the most commonly cited Homeownership Benefits: Equity Building: Over time, homeowners typically build equity in their homes, which can be a significant wealth-building tool. Stable Monthly Payments: With a fixed-rate mortgage, homeowners can have consistent monthly payments, unlike renters who…
Read MoreDeposits and Transfers
During the mortgage process, there are typically two types of financial transactions that may occur: deposits and transfers. Let’s take a closer look at each of them: Deposits: Earnest Money Deposit: When you make an offer to purchase a property, you may be required to provide an earnest money deposit. This deposit shows the seller…
Read MoreMortgage Pre-approval
Here’s some general information to help you understand the mortgage pre-approval process: Gather your financial documents: To get pre-approved for a mortgage, you’ll typically need to provide documents such as pay stubs, W-2 forms, tax returns, bank statements, and proof of assets. This information helps us assess your financial situation and determine how much of…
Read MoreUSDA
Program Highlights 100% Financing with USDA Closing costs included in loan up to appraised value Low USDA Rates Low Monthly MI We can go down to 600 credit score. Must meet USDA income and property eligibility Repairs can be included in loan amount (up to appraised value) Manufactured Homes are eligible but have specific requirement
Read MoreFirst Time Home Buyers
First Time Home Buyers Buying a home is a major part of the American dream, and one of the most important decisions you can make. Let us guide you though the process. Most lender require 20% down but we have programs that will allow for 3% down. We also have grants available for those who…
Read MoreUSDA Loans
USDA Features: No Money Down Financing Option Available. Can be used to buy a new home or refinance an existing mortgage. May offer better terms than some traditional loan programs. No Reserves Required. Interested party contributions up to 6%. Closing costs may be financed on some transactions. * Automated property and income eligibility tool available…
Read MoreVA Home Loans
We offer special incentives to Veterans. This is our way of thanking you for the sacrifices you have made. VA Home Loan Benefits • No Money Down Available. • Very Competitive interest rates. • Flexible qualifying guidelines. • Mortgage insurance not required. • Buyer is not responsible for certain closing costs. *Must meet VA eligibility…
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