October 11th, 2009 — Mortgage Loans
By having a careful look at FHA guidelines, you do not only save your time, but also make the process smooth. It’s good if you have a checklist to confirm that all the important requirements are duly fulfilled. Well, here’s list of required information that loan officer may need so keep it ready:
- Residential address (Past two years)
- Your Social Security numbers
- Names and addresses of your employer (past two years)
- Your current gross monthly salary
- Pertinent information for all checking and savings accounts
- Pertinent information for all open loans
- Complete details of all real estate you own
- Approximate value of all personal property
- If you’re a veteran, you’ll need certificate of Eligibility and DD-214 too
- Current check stubs and your W-2 forms (past two years)
- Personal tax returns (past two years), current income statement and business balance sheet for self-employed individuals
By following FHA guidelines, you won’t have much complications and whole of the process will go smooth too.
July 9th, 2009 — Mortgage Loans
Are you going to apply for FHA mortgage loans?
Don’t make a hasty decision and make sure that you fully understand the conditions of your FHA mortgage, you’re comfortable with the FHA loan rates and above all your affordability. Before signing up for FHA home loan you must know the answers to the following questions:
- Who pays the closing costs?
- What will be the total amount due every month on your FHA mortgage?
- What happens if your payment is a day or two late?
- What may cause an FHA mortgage to go into default?
- What is the actual cost of FHA home loan, you must be well aware of FHA mortgage rate in this regard.
July 8th, 2009 — Home Buyer, Home Loans
There may be various other reasons for which first time home buyer should opt for FHA loans, but here are some tops ones:
- FHA loans only require minimum down payment, i.e. 3.5%.
- You may get the allowances for past credit problems with a FHA Loan.
- There is a shorter time from bankruptcy before you are eligible.
- With FHA Loans. the first time home buyer also qualifies for the $8,000 Tax Credit.
- FHA appraisals do not have to be ordered through the HVCC (Home Value Code of Conduct).
If you’re also a first time home buyer, you must not ignore the FHA loan option. To discuss it in detail with us fill out the form here or call us at
