How is your Credit? Tougher lending laws are now are now leading Fannie Mae to require a minimum of 620 credit score as a qualification for some loans. This includes FHA and VA loans. However, in order to get the best rate, a credit score of 720 is required and verifiable income. In the past …
Now is a Good Time to Buy – How is Your Credit Score? Read More »
Buying a home in Los Angeles can be a daunting prospect. You start to look on line at areas you would like to live and estimate the amount of home you can afford. Well, this is not the way to start looking for a home. You must get pre-approved by a lender! No ifs ands …
Buying a Home in Los Angeles – The Most Important First Step Read More »
Strange as it may seem, the less you put down on a house, the lower your interest rates will be. However, this may not always be of benefit to the borrower. For example, in late August a borrower putting $80,000 on a $400,000 purchase, with a good credit score, around 720, would have qualified for …
Smaller Down-payments May Result in Better Interest Rates – But Read More »
In 1934 the Federal Housing Administration started its quest to help Americans become homeowners by offering them mortgage insurance on loans through FHA approved lenders. They wish to keep the dream alive that millions of Americans can secure a home of their own with affordable rates. So you have a mortgage and you are interested …
