Thursday, August 28, 2014
"The interest rate of an FHA home loan is expected to be lower than other types of home loans. However, it is still the lender’s decision to maintain or raise the interest based on the borrower’s qualifications and financial capability. Primarily, FHA-supported lenders try to avoid having too many cases of bad credits as this could result in their exclusion from the program. As a caution, they might raise mortgage rates for borrowers with bad credits. Whatever the case, FHA remains to be the most viable loan option for homebuyers in California and the rest of the country looking for affordable financing. Whether fixed-rate or adjustable rate mortgages, FHA home loans in Sacramento give practically everyone a chance at home ownership. Leading mortgage brokers like Iron Point Mortgage can help their clients in exploring the suitability of this loan option to their needs."
Tuesday, August 26, 2014
"Additionally, experienced brokers would take the time to learn about their clients’ financial situations and objectives. Those looking for the ideal Roseville home loans should also be prepared with an assessment of their goals, as well as their present and future resources, so they could better discuss their expectations with their broker. The ideal broker would also be highly knowledgeable about FHA loans, as these make up the majority of available mortgages. FHA loans are issued by the Federal Housing Association through private lenders, and come with very attractive rates. A good mortgage broker, like those at Iron Point Mortgage, can lead guide clients to their most viable option including an FHA home loan in Roseville."
Sunday, August 24, 2014
"Experts on mortgage in Sacramento can suggest other types of loans instead. A suitable alternative is an FHA loan (i.e. from the Federal Housing Administration) which has less stringent requirements for homebuyers. FHA loans can benefit those with a less-than-ideal credit history and insufficient funds to pay for nonstructural repairs (like replacing furniture) on their new home. In addition, FHA loans typically come with low interest rates. Home buyers can also get two FHA loans at a time, if they meet certain criteria. Additionally, established mortgage brokers can familiarize other loan types to their clients, such as the VA loan, the hybrid ARM, and the Interest-Only Mortgage, among others. With the brokers’ guidance, home buyers can find the loan package that could help protect them from the effects of present and future market condition changes."
Friday, August 22, 2014
"Unsurprisingly, Placer County also saw a surge in home sales this month, particularly in the southern areas that include Roseville and Granite Bay. As the improving economy boosts people’s financial confidence, many want to take advantage of attractive Roseville mortgage products, offered by reliable home loan providers like Iron Point Mortgage. That said, however, a strong economy shouldn’t be a reason for would-be or current homeowners to be reckless in their mortgage choice. If they sign on for the wrong loan, not even a promising economy might save them from large loan payments and high interest rates."
Wednesday, August 20, 2014
"The relative low interest rates and the large amount of cash in the system has made it possible for many to avail this kind of mortgage. The Sacramento home loans approval process are even tweaked to accommodate the expected rise in V.A. guaranteed loans. They have made the loan application process easier by providing veterans with a detailed yet simpler list of requirements, like a certificate of eligibility that establishes their record of military service. Getting a home is one of the great American dreams and people who served in the military are among those that deserve this dream the most. Trusted mortgage and loan specialists can make sure that veterans get the best deals possible in this financial transaction and will also provide them with needed advice. Veterans gave a lot and it is only just that they can get the rewards they deserve."
Monday, August 18, 2014
"The fix and flip strategy involves buying properties cheaply or under market value, renovating them, and then selling the renovated properties for a profit. Normally, flippers get additional cash for this kind of project from financial institutions that offer Roseville home loans. Flipper capital, together with the loan, are used to purchase homes, buy materials and hire contractors for the renovation, and find buyers for the properties. Banks and lenders usually loan 100% of the purchase price and cost of repairs as long as it does not exceed 70% of the expected sales price. Interested flippers should consult with industry experts regarding their options about fix and flip loans to ensure a profitable transaction. Flippers can even take advantage of the comprehensive list of foreclosed properties that these financiers often have to find potential investment properties.
Saturday, August 16, 2014
"Just as with doctors, you can also get a second opinion on your mortgage application. While all lenders must underwrite loans in accordance with Fannie Mae and Freddie Mac guidelines, many also have additional, stricter conditions on top of these. If one lender rejects your request, Sacramento mortgage brokers may also try talking to other creditors who may have less stringent criterions for approval. Bide Your Time If you keep getting rejected, you may not be financially ready yet to own a home. Fortunately, lenders who deny a mortgage are required by law to send a written explanation to the applicant within 30 days. Take this note to heart and study the reasons underlined in it. Improve your credit rating, reduce your debt-to-income ratio, and save up for a sizeable down payment. You might have to hold off on your dream for a while, but with hard work, you can eventually make it come to fruition. "
Thursday, August 14, 2014
A 2013 Gallup poll revealed that 25% of respondents planned on buying a home within the next 10 years. As you can see, many Americans still have plans of owning a home despite the housing bubble of 2008. What many of them don’t have, however, is the standard 20% down payment needed to make the purchase. As an answer to this dilemma, many lenders are now offering zero-down or 100% mortgage to would-be homeowners. While these loans are certainly attractive, Roseville mortgage seekers should carefully weigh the pros and cons of this option. What are they?