Mortgages for All
Does FHA require 2021 transcripts? Whether you are self-employed or have an employer, FHA loan guidelines require the lender to review recent federal income tax returns. Even if you are paid the same amount on the 15th and 30th of each month, you … [Continue reading] about Is it hard to get a FHA loan?
Should I accept a buyer with a VA loan? Are VA loans bad for sellers? Not necessarily. Accepting an offer from a buyer who uses a VA loan when selling their home can be as difficult as a buyer who uses a conventional mortgage. There are many myths … [Continue reading] about What’s good about a VA loan?
In fact, about 73% of all FHA loans successfully close within 90 days, according to Ellie Mae’s Origination Insight Report of May 2019. For comparison, about 75% of all conventional loans successfully close within 90 days. That's only a 2% … [Continue reading] about Is Conventional better than FHA?
Can two veterans combine their VA loans? It is considered a joint loan if both the military borrower and the other borrower are responsible for the mortgage and own the home together. The VA loan allowance can be used by military personnel, … [Continue reading] about What is the max amount for a VA loan?
What is the downside of a FHA loan? A major drawback of FHA loans is the high cost of FHA mortgage insurance, which must be paid for the entire life of the loan if you pay a minimum of 3.5% deposit. FHA county loan limits also reduce your … [Continue reading] about How long does it take to get approved for FHA loan?