This guide covers credit score to qualify for mortgage lending guidelines. It is not the end of the world for consumers with bad credit. Millions of Americans had a point in their lives where they lost their jobs, had unexpected medical emergencies. Others went through a divorce where their credit suffered. Unfortunately, credit can suffer…
In this article, we will cover and discuss the down payment and closing costs required for a home purchase. Many first-time home buyers are very concerned about how much money they would need to save in order to be qualified to be able to purchase their new home. Believe it or not, many people who dream…
In this blog, we will cover the closing costs breakdowns on a home purchase transaction. The down payment on a home purchase is a fixed percentage of the purchase price. Closing costs vary depending on the borrower, the property, the city, the county, and the state. Whether mortgage borrowers are refinancing a current home or…
In this blog, we will cover using seller concessions for the closing costs on a home purchase. We will go over what seller concessions are and how it works on home purchase transactions. Seller concessions can be used for closing costs. However, seller concessions cannot be used for the down payment on a home purchase….
In this blog, we will cover and discuss the cash to close borrowers need to bring to closing. Homebuyers in a mortgage process will need to have their cash to close verified by mortgage underwriters. The lender will need to verify borrowers have enough verified funds for the down payment and closing costs for the…