We’ll start with the good news: with the current economic climate, almost anyone can qualify for a home loan; including those that have filed for bankruptcy, gone through foreclosure, or have a bad credit score. Anyone can own a home, although it may cost you more than the typical borrower.

Mortgage fraud has never been more prolific than it is today. According to a report issued in March by the Mortgage Asset Research Institute (MARI) and the Mortgage Bankers Association, is at its highest percentage ever, with Colorado being ranked in the top 10 of the MARI Fraud Index.

For many when they think of the lenders perspective of making a loan, they often think about a group of people sitting in a smoke filled room making decisions about who they will loan money to based on whatever the current economic conditions are. While this is somewhat true, lending is about assessing risk, meaning judging your risk to repay the loan back to the lender.

FHA stands for ‘Federal housing administration’ and the loan program is specially to provide an opportunity of purchasing a unit in a non-approved condominium project where Federal housing administration is limited. This cannot be used to circumvent the general requirement before the approval of mortgage on a unit insured by Federal housing administration loan.

Looking to buy your first home but don’t have the essential funds needed for the downpayment? Well I have some great news for you!

Many people are very hesitant to hire a mortgage broker for their mortgage needs and the other option is always to do it yourself. There is a lot that a mortgage broker does so the option of doing it yourself is fine as long as you fully understand what you are putting upon yourself.

With interest rates approaching record lows, many mortgage loans are available at or below 5% today. As a result, many homeowners are struggling with the dilemma of of whether or not to refinance.

The program from FHA which is called FHA Streamline program is getting popular as a result of many foreclosed homes being purchased by people which require repairs. This program can be used both for the purchase of new home and refinancing of your existing home. The FHA 203k Program is little different from the standard [...]

Currently there are many problems because of people’s ARM rate is reset at a very high rate. This is happening because there is a temporary financial hardship. The main problem because of this is that good borrowers have to struggle with late mortgage payments. There are many home buyers which are on the verge of [...]

Interest rates are once again plummeting and many people are trying to get first mortgages or refinance their existing mortgage. But in looking at a mortgage, especially in trying to determine if it make sense to refinance, interest rates are only part of the total picture. While interest rates will affect what your monthly payment [...]