Nothing is quite as exciting as buying a home and financing it with the VA Home Loan Program. What’s not exciting is finding out you don’t qualify for a VA Home Loan because your credit score is too low. It’s actually quite disappointing, luckily there are steps you can take to raise your credit score so you can qualify. VA Home Loans are much more lenient when it comes to credit scores than other loan programs, but there are still minimum standards that the VA requires. Lenders will use your credit score to determine whether or not you would default…
Author: Tech Admin
FHA loans are one of the more popular options for mortgage borrowers, some of the benefits of using an FHA loan is it offers lower down payments and they have more lenient lending standards. The Federal Housing Administration, also known as FHA, insures mortgage loans so borrowers who utilize this program are required to pay for mortgage insurance which protects the lender if the loan were to default. Why Choose an FHA Loan It’s quite simple, the insurance. Borrowers are only required to pay mortgage insurance making an FHA loan a preferable choice when choosing a loan program. Lenders can…
Refinance options are depleting, and lenders are more concerned with how well your mortgage performs. Qualifying for a mortgage refinance these days are a lot harder than it has been in the past because of limited options. Some lenders offer a streamlined alternative to borrowers to help lower their costs and to make refinancing more accessible for them. Some banks offer their own streamline refinance programs. These particular programs have much less credit requirements and are easier for borrowers to qualify for. They also offer more lenient income and asset verification. A streamline refinance takes off a lot of time…