In some situations, you might require assistance to bring your house ownership aspirations to reality. You may be able to co-borrow with a non-occupant if you’re looking for a home and don’t meet the financial criteria for a conventional mortgage loan. Most individuals would want to own their own homes. Especially for the younger generation…
How Does The VA Streamline Refinance Mortgage Program work? Homeowners with a current VA loan can qualify for a VA streamline loan. HUD and the VA are the only federal government agencies that offer streamline refinancing loan programs on FHA loans and VA loans. What Is the Primary Purpose For VA Streamline Refinance Loans VA…
In this article, we will discuss and cover 5/1 Adjustable-Rate Mortgage and how ARMs work. Ever want to know What is a 5/1 ARM adjustable-rate mortgage but simply haven’t taken the time to read up about it. You probably have heard about these types of mortgages during the financial crisis. But the truth is that…
In this article, we will discuss and cover qualifying for home loans for self-employed borrowers with no income documentation required. In this blog, we will present all types of home loans for self-employed borrowers. Homebuyers who own their business without qualified income can qualify for home loans for self-employed borrowers without income tax returns. You…
In this article, we will discuss and cover USDA loans for homebuyers in eligible rural areas. The USDA Rural Development Guaranteed Housing Loan program offers a special mortgage loan program that offers 100% financing to qualified borrowers. Unlike other loan programs, only homes in selected USDA Designated Areas in the United States qualify for USDA…
In this blog, we will cover and discuss second home financing versus investment mortgages. There are various reasons why homeowners want to purchase a second home. Fannie Mae second home financing has different mortgage guidelines than investment home mortgages. Investment home financing requires the following: larger down payment higher interest rates require 6 months of…
In this blog, we will cover and discuss FHA 203k loan requirements on fixer-uppers. HUD, the parent of FHA has an acquisition and renovation loan program for homebuyers of fixer-uppers. FHA 203k Loans allows home buyers to purchase homes that need renovation. What Type of Work Can You Do With FHA 203k Streamline Loans? The…
Many current condotel owners nationwide still have high-interest rates on their condo hotel mortgage loans. Some have interest rates as high as 9%. Capital Lending Network, Inc. has a large clientele base of condotel borrowers throughout the United States. We are licensed in multiple states and can help condotel buyers and owners with condotel financing…
In this article, we will discuss and cover using gift funds for house down payment. Many mortgage programs allow you to use a gift for some or all of your down payment. However, there are strict with using gift funds for house down payment. Gifts for mortgage down payments can only come from approved sources….
Many borrowers often ask the question of factors that determine mortgage rates. Not every borrower will get the same mortgage rates on government and conventional loans. Rates are based on the risk level of borrowers. Prior bankruptcy and/or foreclosure does not matter with pricing on mortgage rates. On government loans, credit scores are the main…