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 […]
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Bond Money and Grants Can Help With Down Payment in 2022
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 2022 so too will the amount of down payment needed because the down payment is […]
Reverse Mortgage Guide 2022
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 […]
Charleston VA Home Loan Limits and Latest Updates
If you’re eligible for the VA home loan benefit you can use it to buy a home in Charleston, or anywhere in South Carolina as long as you intend to live in the property as your primary residence. This special no money down program was first introduced toward the end of WWII as a way […]
Maryland First Time Buyers Programs With Low Down Payments
First Time Home Buyers in Maryland have some great programs for mortgage financing in 2022. The most popular home loans for first-time buyers are Government-backed programs like FHA, VA and 100% USDA loans. Below we will discuss each program, and talk about the benefits to help you choose the right option. FHA Loans: FHA remains […]
FHFA Adverse Market Refinance Fee Eliminated Aug 2021
The FHFA (Federal Housing Financing Agency) announced last month that effective August 1, 2021 it will be eliminating the 50 basis point Adverse Market Refinance Fee for refinance mortgage loans. The FHFA notes that the fee imposed on lenders originally was designed to cover losses projected as a result of the COVID-19 pandemic. However, the […]
New Changes For FHA Home Buyers With Student Loans
FHA recently announced new guidance for new applicants that have student loans. The new guidelines help to remove obstacles and provide more access to affordable single-family FHA-insured mortgage financing for creditworthy home buyers that have student loan debt. This is great news since the majority of the FHA loan applicants are first-time buyers with already […]
Gainesville FHA Loan Down Payment & Loan Limits Newly Updated
FHA loans continue to be one of the most popular mortgage choices for homebuyers in Gainesville and Alachua County. The Gainesville housing market has remained robust and increasing with average home values hovering around $245,000. First time home buyers make up a large percentage of Florida borrowers today and FHA loans provide needed low down […]
Jacksonville FHA Loan Benefits
The Jacksonville housing market is going strong in 2022 with increased buying activity. Home values have increased 24% in the last year, for a median sales price of $260,000. More first-time homebuyers are now entering the market and looking for mortgage options that offer manageable terms with a low down payment. FHA financing fills this […]
Richmond FHA Home Lending Requirements
Prior to the introduction of the FHA mortgage program way back in 1934, lending guidelines were inconsistent. Prior to the FHA loan, banks could ask for 30 or 40 percent or more for a down payment. Buyers also had to have a standing relationship with the bank. Mortgage loans were issued for a relatively short […]
Tennessee VA 100% Mortgage Qualifying Breakdown
If you’re one of those lucky Tennessee home buyers that is eligible for the VA home loan program, congratulations. Vets have access to one of the best mortgage options today, offering 100% financing with no mortgage insurance. If you’re eligible and want to know more about the VA loan program, here are some of the […]
Nashville Government Mortgage Offerings 2022
Nashville has many government-backed mortgage programs available today. There are three such programs available and they each serve a different audience. They are the FHA, VA and 100% USDA programs. Conventional loans are those that are issued and guaranteed by the individual lender approving the loan. There is no guarantee of any sort from any […]
Roanoke VA Mortgage Refinance Programs For 2022
Veterans in Roanoke have some great VA refinance options available in 2022. Depending on your current needs and equity situation, The VA IRRRL Streamline refinance or 100% VA cash-out could make sense. Let’s take a closer look below at both options available to homeowners in Virginia. VA IRRRL “Streamline” Refinance Mortgage A VA IRRRL loan […]
100% USDA Home Loans Naples & Collier County
USDA offers a great option for first-time homeowners in Naples Collier County seeking 100% financing. Buyers just don’t have many options today to purchase a home with NO money down. In fact, VA and USDA Rural Housing are the only government loan options that still allow Naples buyers to purchase a home with $0 cash […]
Beyond Interest Rates, What Buyers Should Look For in a Mortgage?
Getting your financing lined up when starting the home buying process is one of the first things that should be done by any homebuyer. You can speak with a loan officer over the phone who can guide you through the process and even prequalify you over the telephone regarding how much you might be able […]
Conforming and FHA Loan Limits Increase For 2021
UPDATE: NEW 2022 CONFORMING LOAN LIMITS UPDATED HERE. Conforming and FHA loan limits are increasing for 2021. The higher mortgage limits will allow home buyers to qualify for more when needed. Below we will break down the latest 2021 loan limits. Please contact Coast2Coast Lending 7 days a week with questions by calling the number […]
New Conventional Refinance Fee Delayed Until December
Homeowners looking to refinance their conventional loan may be aware of a new refinancing fee to be imposed by the Federal Housing Finance Agency (FHFA). This fee was set to start in September, but will now be delayed. This is good news and provides a window of opportunity for many homeowners who still want to […]
Purchasing a House Within Your Income Range
Tired of renting? Did someone at work just buy a home and they can’t wait to close? Did you recently get bitten by the “home buying bug?” It happens at some point to all of us. Even if you’re not ready to buy your own home at least you’ve thought about it. But if you’re […]
Recent FHA Mortgage Changes – Impact to Buyers
The mortgage industry has been going through some rapid changes due to the impacts of COVID-19. We have witnessed extremely volatile interest rate movements, along with many loan program changes in recent weeks. In this post, we will discuss some recent FHA changes and there impact on buyers looking to purchase a home. FHA Credit […]
Tampa First Time Buyer Programs: Pros and Cons
Purchasing a home can be a little nerve-racking, especially for Tampa first time home buyers. Beyond all mortgage preparation, there are many different people involved in the process. This includes the lender, realtor, closing agent, appraiser, and the list goes on. Applying for a home loan and getting preapproved from a mortgage lender should be […]