Mortgage officers play a key role in helping clients secure financing, guiding them through the myriad options when it comes to both purchasing and refinancing homes. To remain effective and responsive to client needs, a deep understanding of the…
The new Community Affordable Loan Solution, Bank of America’s “no-down” mortgage program, is only one of a growing number of no- and low-down payment mortgage options.
Knowing what loan options are available to you enables you to choose a loan that best fits your needs. We’ll walk through the differences between the major types and categories of mortgage loans.
Minimum Down Payment Requirements by Loan Type First, let’s take a quick look at minimum down payment requirements for FHA, conventional, VA and USDA loans. It’s important to note that some of these down payment options depend on loan…
What Do You Need to Buy a House? You’re probably ready to dive right in and start looking at available houses on the market, right? You’ll get there! First, you’ll need to have a clear understanding of the buying…
When you’re getting ready to buy a house, your lender will want to see your credit score, a three-digit number that represents how well you pay back debt. Before you apply for a mortgage, keep in mind that your…
As you read through our homebuyer’s guide, you may wonder which home loans could work best for you. A conventional loan, the most common type of non-government backed loan, requires you to have a minimum credit score of 620….