FHA Down-Payment Grants
Buying a home is a momentous occasion, but if you don't have the money for a down payment, you may think you'll never have your dream home. However, the government is looking for ways help increase...
View ArticleSteps in Finalizing a Mortgage
Getting a mortgage can be a complicated process. However, you can make things much easier if you know what to expect before you start. Going into the process prepared could save you not only time but...
View ArticleHow to Calculate Different Mortgage Payments
When shopping for a mortgage, different banks will charge different rates to the borrower. The different interest rates will change the amount of monthly payments. Banks may also differ on the time...
View ArticleThe Best Way to Pay Less Interest on a 30-Year Conventional Mortgage
You will pay the maximum amount of interest on your 30-year mortgage if you make payments for the full term. You can reduce the amount of interest you pay by following some simple steps. The faster you...
View ArticleRESPA & Truth in Lending
Any buyer searching for a home mortgage loan should familiarize himself with the Real Estate Settlement Procedures Act and the Truth in Lending Act. These laws were implemented to protect borrowers...
View ArticleHow to Buy a House With Bad Credit & No Down Payment
You probably want to own a home at least once in your life time, but if you have bad credit and no money for the down payment, you might give up on your dream. Fortunately, there are options available...
View ArticleAssistance Grants for Down Payments
The down payment for a home can seem daunting if you don't have any help. A down payment doesn't have to get in the way of you finally owning a home. There are many assistance grants. In July 2008,...
View ArticleHow to Close on a Refinance
When a refinanced loan is closed, all paperwork and documents need to be prepared and signed by all borrowers, who must also provide income documentation. All signers will need to provide photo...
View ArticleGrants for First Time Home Owners
First-time home buyers may be eligible for grants. Such grants can assist with down payments, or with the cost of a mortgage itself. Most programs are funded by the federal government, but administered...
View ArticleNew Jersey Mortgage Programs
A mortgage can be expensive, and a New Jersey mortgage is no exception. However, if you have some assistance from the federal government you may be able to afford the home of your dreams without...
View ArticleHUD Reverse Mortgage Limits
A reverse mortgage is a home loan that allows older homeowners to convert equity into cash. Reverse mortgage limits are set by the Federal Housing Administration and vary by geographic region.
View ArticleHow to Get a Mortgage Without a Full-Time Job
Getting a mortgage usually requires you to prove you can pay for the loan. If you've had a steady job, you can easily come up with your employer's info and copies of tax statements to prove your...
View ArticleGovernment Mandated Laws on Foreclosure of Homes
Purchasing a home is a big decision and when you fall behind on payments, you risk the bank foreclosing on your property. There are many laws associated with foreclosures that are designed to protect...
View ArticleFHA House Inspector Requirements
The Federal Housing Administration (FHA) requires an appraiser, also called an inspector, to act as a mortgage lender's eyes to determine a home's eligibility for mortgage insurance. The FHA certified...
View ArticleWhat Types of Loans Are HMDA-Reportable?
The Home Mortgage Disclosure Act (HMDA) was enacted into law during 1975 and was implemented by Regulation C of the Federal Reserve Board. Over the years, many amendments to the original law and...
View ArticleGovernment Incentives for First-time Home Buyers in Canada
The Canada Revenue Agency provides tax incentives and programs to Canadian first-time home buyers to help finance the purchase of their first home. These incentives include an income tax credit, a tax...
View ArticlePenalties on Mortgages
As long as you apply for a loan in good faith and make regular payments until the loan is paid off, there are no penalties associated with a mortgage. If you lie on your loan application, pay off your...
View ArticleHUD Grants for Foreclosures
Because of the economic decline, the federal government has scrambled to make provisions for homeowners facing foreclosure. Not only has the government sought solutions to help citizens keep their...
View ArticleWhat Types of Home Loans are Available To the Self-Employed?
Due to an increase in home loan defaults, the underwriting process---where lenders decide whether or not to approve a person for a home loan---has gotten stricter and stricter. If you have a job,...
View ArticleRefinancing Your Home With an IRS Lien
Refinancing your home is one way to get a lower interest rate and payment. To refinance, your lender will order a title search report from a title company. The mortgage deed is reviewed during the...
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