Conventional 3% Down Mortgages 27 FAQ’s

Frequently Asked Questions and Answers to the new Conventional 97% Mortgage. Is the Conventional 97 a government-backed mortgage program? Yes, the Conventional 97 mortgage program is backed by the government. It’s offered via Fannie Mae only. The program is not available via Freddie Mac, nor is it available…

8 Basic Requirements of the Ability to Repay Mortgage Rule

Ability to Repay Basic Eight Requirements

2014 brings with it many new rules established by this new regulator that have significant impacts not only on the type of loans that consumers have access to but how they are delivered. The rule set minimum requirements that a creditor must consider in making the ability‐to‐repay determination. Eight factors must be considered, at a minimum, in the underwriting evaluation process:

How to DIY Credit Repair Tips

One of the booming  cottage industries that has emerged from the Great Recession is credit repair companies. Most are by the same people who flew the sub prime mortgage industry into the ground lying to home buyers about their ability to refinance out of a high cost mortgage into a more affordable long-term mortgage in…

Five Great Reasons to Buy a Home today

Why You Should Start Planning To Purchase A Home If you’ve ever thought about buying a home, but decided that it was too big a financial gamble, think again.   It’s possible you haven’t considered the risk of not buying a home.  For the majority of working people, home ownership is the single most reliable way…