VA Loan Program

● Graham Parham ● November 5, 2013 ● Government Loans Programs ● No Comments

A VA loan is a mortgage loan in the United States guaranteed by the U.S. Department of Veterans Affairs (VA). The loan may be issued by qualified lenders. The VA loan was designed to offer long-term financing to eligible American […]

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Fixed Rate Loans

● Graham Parham ● November 5, 2013 ● Conventional Products ● No Comments

Fixed-rate mortgages remain the most popular type of home financing. A fixed-rate mortgage is a good option for nearly every type of borrower, whether you plan to stay in the house for the long term or just for a few […]

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Mortgage Closing Costs

● Graham Parham ● November 4, 2013 ● Closing Mortgage 101 ● No Comments

Mortgage Closing Costs There are three components that make up the funds due at closing: the down payment, the mortgage closing costs, and the prepaids. Regardless of what lender you choose or what program you choose, these costs will exist. […]

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What is the Purpose of a Property Appraisal?

● Graham Parham ● November 4, 2013 ● Appraisal and Inspections ● No Comments

A home appraisal is generally required by the lender in order to establish that the value of the home will be sufficient collateral for the amount of the loan. The appraisal fee is generally paid by the buyer, sometimes required […]

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Debt-to-Income Ratio

● Graham Parham ● November 4, 2013 ● Qualifying for a Loan ● No Comments

When you apply for a mortgage, your lender will analyze your debt ratios, which are also known as your debt-to-income ratios, or DTI. Lenders calculate DTIs to ensure you have enough income to comfortably pay for a new mortgage while […]

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Jumbo Loans Programs

● Graham Parham ● October 30, 2013 ● Conventional Products ● No Comments

In the United States, a jumbo mortgage is a mortgage loan that may have high credit quality, but is in an amount above conventional conforming loan limits. This standard is set by the two government-sponsored enterprises, Fannie Mae and Freddie […]

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Refinancing

● Graham Parham ● October 24, 2013 ● Refinancing ● No Comments

Refinancing Details The majority of this website and it’s content is geared towards purchase loans mainly because the home buying process is the similar to that of a refinance loan and because buyers typically have more questions than property owners. […]

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