When building a new property versus purchasing an existing property, you may mistakenly assume that a conventional mortgage is your only option. The good news is, FHA offers new construction mortgages! There are many key differences between ... Read More
Mortgage Information
Cancelling PMI From FHA Home Loans Endorsed Before June 3, 2013
Many borrowers who select FHA loans were attracted to the low down payment requirement. Given that PMI is usually required on loans with less than 20% down, most of these borrowers have PMI payments each month. The procedure for cancelling that ... Read More
What You Need To Know About New Construction Mortgages | PA New Construction
New construction mortgages are not typically required if buying a property owned by a builder. Builders usually finance the building process so that you may use a regular mortgage when construction is completed. Even though this makes the financing ... Read More
PA Lower FHA Mortgage Insurance Premiums beginning January 26, 2015
It was recently released that the mortgage insurance premiums for FHA mortgages is reducing by half a percent. This will assist home buyers currently in the market. The following is some important information on PA lower FHA mortgage insurance ... Read More
New Lender Disclosure Forms Beginning Oct. 2015
When applying for a mortgage, you receive many forms to review. It may be a bit confusing. These forms were established by different legislation over time. In many cases, they offer overlapping figures, making the documentation even more difficult ... Read More
The 15th Of September 2015 Changes To FHA Loan Qualification Criteria
One of the most used types of loans is FHA. Home buyers must be aware of the the 15th of September 2015 changes to FHA loan qualification criteria. The following is a summary of them. Interpretation of Debt Some debts are being viewed a bit ... Read More
MassHousing Loans For Philadelphia Real Estate Buyers
MassHousing is a not for profit public agency in Massachusetts that offers mortgages. They do not use taxpayer funds and are a self-supporting agency. Home buyers may want to evaluate a MassHousing loan as it may be more beneficial than an FHA loan. ... Read More
Introduction To Income Vs. Debt Ratio For Haddonfield Mortgage Pre-approvals
Personal finances play a significant role in loan approvals. All finance companies examine your assets, income, credit and debts. These affect whether you qualify for financing and for how much. This article provides introduction to income vs. debt ... Read More
Details On Common Lending Terminology In Philadelphia Or New Jersey
Exploring the loan process will be complex, particularly with all of the mortgage-specific terminology. Learning common lending terminology may facilitate the process. In this article you will find details on common lending terminology in ... Read More
Determining Home Affordability In Collingswood
Determining home affordability in Collingswood is a critical starting point for all home buyers and should be completed prior to touring homes. This saves energy and minimizes heartache. There are various expenses to evaluate such as mortgage ... Read More
