Freddie Mac had a refinance program for borrowers with little equity in their homes. The FMERR program expired on September 1, 2019, but they have extended it before. Below we’ll touch on the basics of the FMERR program as well as show you the alternative most people can benefit from in place of Read more
The Difference Between Conforming and Non-conforming Mortgage Loans
As you shop for a mortgage, you’ll likely hear the terms conforming and non-conforming thrown around. It’s important that you understand these terms and figure out how you fit into them in order to determine which loan is right for you.Compare Offers from Several Mortgage Lenders. What are Read more
How to Find Fannie Mae HomeStyle Loan Lenders
Have you fallen in love with a home that won’t pass Fannie Mae standards for financing? Maybe it needs some renovations to bring it up to code. If you don’t have the cash lying around to pay for the home, you may think you’re out of luck.Compare Offers from Several Mortgage Lenders.There is Read more
What is the Minimum Credit Score Needed for a Conventional Loan?
Your credit score could fall anywhere between 350 and 800. It’s safe to say, though, if you fall on the lower end, you’ll have a hard time finding a mortgage from any lender. That doesn’t mean you won’t find a loan, but finding a conventional loan would be next to impossible.According to Ellie Read more
HomeReady vs Home Possible: Which Should you Choose?
If you don’t have a large down payment for a home, you might think you are out of luck. While the FHA offers a 3.5% down payment loan, Fannie Mae and Freddie Mac also have options. Fannie Mae offers the HomeReady loan and Freddie Mac has the Home Possible loan. While both are similar, they have some Read more
