It might seem a bit odd at first that that United States Department of Agriculture has a mortgage program. Yet the USDA loan is probably the “go to” source for certain types of properties located in rural and semi-rural areas. Lenders like the USDA program because it allows them to finance homes in areas where […]
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USDA, FHA and VA Loan Guarantees Explained
There are three government-guaranteed mortgages available today. They are the USDA, FHA and VA loan programs and each designed for a specific type of borrower or situation. They’re called guaranteed because the lender that made the loans is compensated for part or all of the loss should the loan ever go into foreclosure. A guarantee […]
What To Expect At Your Home Closing
All the prep work has been done and your lender has told you your closing papers are being prepared and delivered to your escrow officer or settlement agent. A lot was said and done since the time you first spoke with a loan officer and began asking a series of questions on qualifying, applying for […]
FAQs For First Time Home Buyers
Anytime someone does something for the very first time, there will be many questions. This is especially true when buying a first home. There are so many different people involved when buying a home and lots of new terms will be thrown around many buyers may never have heard before. At the same time, there’s […]
How Much Can Home Sellers Contribute Toward Your Closing Costs
Saving up enough money for a down payment is typically the single biggest obstacle first time home buyers face. For those who already own a home and are contemplating selling and buying another, the accrued equity in the home is usually enough to take care of a down payment for the subsequent home. First-time buyers […]
Texas FHA Mortgage Benefits For First Time Buyers
Texas FHA mortgages are a great choice for many first time home buyers in Dallas, Houston, San Antonio, etc. The FHA program provides several benefits, keeping in mind the budget difficulties of many homeowners who are considering purchasing their first home. Compared to most traditional mortgage loans, the FHA loan eases the process for the […]
VA Mortgage Highlights St. Johns County
Getting a VA home loan in St. Johns County might at first glance seem to be full of paperwork, hard to get and the loan process itself simply takes too long. First-time homebuyers can glean as much information as they can about the process but with all the different loan terms and qualification guidelines, it […]
New 2019 FHA Loan Limits
FHA recently announced some great news for homebuyers using the loan program in 2019. The loan limits have increased nationwide. Home buyers can view the new 2019 FHA loan limits here. The FHA mortgage program offers many advantages for home buyers seeking to purchase a home with little down payment. Some of the program advantages include: Minimum 3.5% […]
Best Mortgage Options First Time Buyers 2019
For those buying their second, third or retirement home, many times the funds needed for a down payment and closing costs come from the proceeds of a sale from the previous home. As homeowner equity grows over time, that equity is converted to cash at settlement and then part or all of it is transferred […]
Conforming Limit Changes 2019
Consumers may have heard the term “secondary market” as it relates to housing but it’s not very likely. Lenders, however, are very familiar with the term as the secondary market is the lifeblood of the industry. Without it, home loan lending would slow to a crawl resulting in fewer people being able to afford a […]
First Time Buyers Should Look for These Loan Programs in 2019
Let’s face it, applying for and documenting a mortgage application can sometimes be a bit intimidating. There are so many service providers and paperwork involved, many times the paperwork can be a bit overwhelming. This is especially so for those who are buying their very first home. First-time buyers soon find out that applying for […]
Bond Money and Grants Can Help With Down Payment in 2019
When lenders initially review a loan application from a first time home buyer, one of the more important items to check off is making sure there are enough funds for a down payment and closing costs. As loan limits rise in 2019 so too will the amount of down payment needed because the down payment […]
FHA Loan Guide For Daytona Beach Home Buyers
The FHA home loan continues to be a popular home financing option for home buyers in Daytona Beach. But it’s important for buyers to understand what they are getting. Being a Government-backed program, the FHA mortgage is one of the most conservative mortgages available today. Low down payment of only 3.5%, No prepayment or early […]
Peeling Back the Unemployment Numbers
After the Labor Department announced the Jobs Numbers for October, there were quite a few surprises. And almost a guarantee the Fed will raise rates at their next round of meetings November 7-8. The last rate increase came at the September two-day FOMC meetings. Doing so would mark the fourth time the FOMC has voted […]
Asset Depletion Mortgage Highlights
Asset depletion is a method for calculating monthly income by dividing a borrower’s total assets by a set number of months. The borrower is not required to cash in their assets as they’re only used to demonstrate an ability to make the mortgage and housing payments. This is a great solution for home buyers that have significant assets but difficulty proving […]
Coast 2 Coast Is Hiring Great Loan Officers
Are you a great loan officer looking to be part of a great company? Coast 2 Coast Lending is now hiring! Contact us today to learn about individual loan officer and branch opportunities. Coast 2 Coast offers many benefits for loan officers including: Great Products to Grow Your Business: FHA, VA, USDA, Conventional, Jumbo, […]
Atlanta FHA Loan Benefits First Time Buyers
Georgia FHA loans are a popular choice for many first time home buyers in Atlanta. The FHA mortgage program provides several benefits, keeping in mind the budget difficulties of many homeowners who are considering purchasing their first home. Compared to most traditional mortgage loans, the FHA mortgage loan facilitates the process for the applicant. In […]
First Time Buyer – Low Down Payment Loans Corpus Christi
Corpus Christi, the seat of Nueces County, is located along the Gulf Coast border in Texas. The population of Corpus Christi today is around 330,000 with the larger Corpus Christi MSA home to about 450,000. Corpus Christi’s city limits encompass more than 500 square miles, 175 being land and almost twice that area in water. […]
Home Energy Efficient Upgrades That Pay You Back
Whether your goal is to lower your utility bills or maybe you’re looking further down the road and have decided to “go green” there’s is no better place than to start at home. Going green in today’s environment is easier than ever as manufacturers have recognized this trend for several years and designing products that […]
6 Home Upgrades to Avoid
Whether you just bought a fixer-upper that needs more than just a little “TLC” or you’ve lived in your home for a few years and ready for a remodel, there are some things you should do and especially things you shouldn’t do. Of course, if you did buy a home that needs a little help, […]
How to Prepare Your Home Before You Sell It
When you’re thinking about selling your home, the current condition is an indicator of how well it’s been taken care of. With your house, there are several things you can do that fit within most any budget that will put your home in the best light possible and get the price you’re looking for. Here […]
5 Hidden Costs of Homeownership
When consumers carefully consider buying a home, most of their attention is directed at how much money is needed for a down payment, how much are my closing costs and how much money do I need overall to close the transaction. Those are important considerations and your loan officer can provide you with a pretty […]
Using an FHA Loan in Orlando
When you think of Orlando, the first thing that likely comes to mind is all the theme parks located there. Of course, the flagship is Disney World which is home to the Magic Kingdom and Epcot Center. Universal Orlando hosts Universal Studios, Islands of Adventure and the popular World of Harry Potter. Located in Central […]
VA Purchase Mortgage Greenville, South Carolina
Located within its namesake Greenville County is home to Greenville, South Carolina. Greenville was officially incorporated in 1831 but was settled decades prior. Today, Greenville is home to around 70,000 residents with a median income of approximately $45,000. One of the most visited venues is the Greenville County Museum of Art. For those who enjoy the […]
Can You Take Equity Out With a VA Loan?
Refinancing a VA loan is much like refinancing any other mortgage. However, VA loans do have a refinance option that conventional loans do not have. This option is referred to as a VA “streamline” and is a VA-to-VA refinance that requires very little documentation. No income or employment check, no appraisal required and no need […]
Two Things Florida First Time Buyers Need to Know
Buying your first home isn’t the type of decision that’s made overnight. It’s not something that suddenly pops into your head so you head out the door and start visiting open houses. Instead, it’s a thought that gradually creeps into your head over time. Maybe it was a coworker who keeps talking about the new […]
Which Type of FHA Loan is Best?
Did you know there was a choice? Did you know that an FHA loan is not just a single loan program but actually several? Sometimes thinking about which loan program is best for you, it can get a little complicated. Mortgage programs aren’t designed to be complicated but new programs can come about to address […]
FHA Loan Application Preparation
It always helps to be well-informed in order to increase your chances of successfully getting your FHA loan approved. Buyers should be aware of what steps should be taken before and after applying. Before Applying: Credit check It’s usually the little things that bring down your credit score. Check your income, […]
Georgia USDA Loan Eligibility Checklist
Many locations in Georgia are still eligible for 100% USDA rural housing. Homebuyers considering a USDA home loan should first check they meet the USDA loan eligibility requirements. Below is a basic checklist of items that will determine if you are eligible for USDA financing. Keep in mind the program as certain eligibility and qualifying […]
Pensacola USDA Rural Loan – 100% Home Loans
If you thought you never had a chance at home ownership because of inadequate finances and low savings, then consider USDA Rural Housing Loan. Most of Escambia County is eligible for the program making it perfect for first time home buyers that have limited savings for a large down payment mortgage. What Exactly Is a […]
Rising Interest Rates, What Can Buyers Expect?
We’ve enjoyed some very competitive interest rates over the past few years. This has helped the housing market not only recover but thrive in multiple markets across the country. Today, it’s common to find a 30 year fixed rate for a conforming loan amount in the 4.00% to 4.25% with some variance. These rates hit […]
Down Payment Assistance and Florida FHA Loans
One of the biggest challenges for those buying their first home is coming up with the necessary funds needed to purchase a home. There is a down payment involved and there are closing costs associated with a new mortgage. For many, it’s not their credit that is an issue nor is having sufficient income to […]
FHA Loan Guide Charlotte Home Buyers
An FHA loan may be best described as a mortgage that is issued by an approved qualified lender or bank, and subsequently insured by the Federal Housing Administration, or the “FHA” as it’s more popularly known. As a general rule, all FHA loans are specifically designed for Charlotte home buyers that may not be in a […]
100% VA Loans For Michigan Homebuyers
The VA Loan is a type of mortgage loan that is typically issued by pre-approved lenders, brokers, and banks that is guaranteed by the U.S. Department of Veterans Affairs (VA). This program was created by the United States government in 1944 when world war II was winding down. The core purpose was to help the returning service […]
VA Mortgage Eligibility South Carolina
VA Mortgages are one of the best loan programs available today for eligible Veterans in South Carolina. Here are some of the great features of this fantastic program: NO Down Payment, 100% financing No monthly mortgage insurance Loan limits up to $484,350 in South Carolina Easier credit qualifying compared to other types of mortgage loans VA […]
Updated 2018 Conforming Loan Limits
*Post Update 2019 – please see 2019 conforming loan limits here New conforming loan limits were just announced this week. The base conforming loan limit has increased from $424,100 to $453,100. High-cost locations were also adjusted higher per the chart below. 2018 Conforming Loan Limits: 1-Unit 2-Unit 3-Unit 4-Unit Fannie Mae $453,100 $580,150 $701,250 […]
Reverse Mortgage Guide 2018
The concept of a “reverse mortgage” was originally considered back in 1980 and ultimately insured by the Federal Housing Administration in 1989. Today, the reverse mortgage is officially called the Home Equity Conversion Mortgage, or HECM and is insured by the FHA. The HECM is a loan program designed to provide seniors access to their […]
100% USDA Loan South Carolina
There are three government-backed mortgage programs available to South Carolina home buyer today. Those three are the USDA, FHA and VA loan programs. USDA and VA are the only two that still permit 100% financing. The VA loan does not require a down payment yet is only available for veterans of the Armed Forces and Reserves and […]
How To Apply For VA Loan
VA still offers wonderful mortgage benefits to qualified veterans across the U.S. If you are looking to apply for the VA loan, certain paperwork will be required. Below we have outlined all the basic information Vets need to know before applying. The Veteran needs to provide their Certificate of Guarantee or DD 214 ( call us […]
First Time Buyer Florida FHA Loans
Florida buyers are surprised to learn the FHA loan was introduced back in 1934 and still the top mortgage program for those purchasing their first home. And while FHA is not reserved only for first time home buyers there are some reasons why it’s a good deal for those wanting to come to the closing […]
North Carolina Teacher Programs
Below we have listed some tips to help North Carolina teachers breeze through the mortgage pre-approval process. Regardless if you are looking for NO money down payment USDA loan, FHA or conventional mortgage, the tips below will apply. One of the first things a lender will want to see is evidence of full-time employment. This is usually […]
USDA Closing Costs Texas
We have received many questions lately regarding USDA financing and closing costs. Generally speaking, for a new home purchase in Texas, the buyer can expect to pay around 4.5% (of the purchase price) for closing costs and prepaid escrow requirements. Escrow requirements include prepaid taxes and home insurance. The home seller will have “customary” closing […]
USDA Loan Requirements Georgia
USDA Rural Housing provides a great opportunity for Georgia homebuyers to purchase a home with very little money out of pocket. Please read below to learn about the basic USDA loan requirements for Georgia, please contact us today with questions. Credit score – 620 min credit score is required. Applicants should have no repeated late payments […]
Should First Time Buyers Invest In Georgia Real Estate?
Over the years, Georgia real estate has been a good investment choice for first-time homebuyers. But purchasing your first-time can be a stressful task, one that requires careful planning and consideration. The following reasons will put a positive spin on this stressful decision. It will answer the main question in the back of your mind…whether […]
100% USDA Loan Nassau County Fla
The 100% USDA Loan Program remains one of the top first-time buyer programs in Florida. After all, this special program does not require any down payment there are also no maximum loan amounts. This program has been around Nassau County for years but the popularity has risen in recent years. Why? Zero down loan programs […]
VA Funding Fee Breakdown
VA loans don’t require a down payment yet even so they are still some of the highest performing loan group of all current home loan programs today. This not only in spite of the fact there is no initial “skin in the game” as some lenders put it. This fee is an upfront fee and […]
FHA or VA: Which Loan is Best?
For those who are dually qualified for an FHA loan as well as being VA eligible, there’s a choice to be made and it’s maybe not all that obvious. When financing a home when down payment funds are available, comparing the two options is a good idea. FHA and VA loans can be used anywhere […]
Low Down Payment Home Loans Texas Teachers
Saving up money in order to buy a home can be a struggle sometimes. Especially for those just starting out or recently employed in the public sector such as police, firefighters, and teachers. However, in Texas there are programs designed for all first-time buyers that not only allow little or NO down payment but also have […]
FHA Streamline Refinance Program Georgia
Home owners in Georgia that currently have an FHA mortgage should take note of the FHA streamline refinance. Recent improvements to the FHA streamline refinance program means that not only is no appraisal required, but the closing costs for this new streamline refinance program have been dramatically reduced! The FHA streamline refinance program requires that the […]
FHA Upfront – Loan Limits Texas
FHA loans have been around for a long time, as far back as 1934 when the program was first introduced. FHA loans have an inherent guarantee to the lender that compensates the lender at 100% of the foreclosed loan amount. FHA loans also have a very low down payment requirement of just 3.5% of the […]