Posts Tagged ‘Mortgage’

5 Things You Didn’t Know About FHA Mortgage Rates

Tuesday, June 16th, 2015

5 Things You Didn’t Know About FHA Mortgage Rates The Federal Housing Administration (FHA) is a government agency that sets the standards for building construction — but for homeowners or home buyers it can be a lot more. FHA-approved loans can help borrowers overcome obstacles standing between them and homeownership, and give homeowners options to […]

What is Debt to Income Ratio (DTI)?

Friday, June 12th, 2015

What is a debt-to-income ratio? A debt-to-income ratio is one way lenders measure your ability to manage the payments you make every month to repay the money you have borrowed. Lenders use your DTI ratio to evaluate your current debt load and to see how much you can responsibly afford to borrow. Less debt equals […]

How Important Is Your Down Payment on a Home?

Tuesday, June 9th, 2015

How Important Is Your Down Payment on a Home? When buying a home, most people take on a mortgage. There are many things to consider when taking on a mortgage loan, including interest rate, closing costs and the down payment. Once you calculate how much house you can realistically afford, you can start looking at […]

What is Private Mortgage Insurance (PMI)?

Wednesday, May 20th, 2015

What is Private Mortgage Insurance (PMI)? When you buy a new home in Gilbert AZ and you are getting mortgage, your lender will look at the amount of your down payment compared to the sales price. This is to determine your loan to value ratio aka LTV ratio. To calculate loan to value ratio, your […]

What is Good Faith Estimate When Buying Home in Gilbert AZ?

Thursday, May 14th, 2015

What is Good Faith Estimate When Buying Home in Gilbert AZ? The Good Faith Estimate, Defined One of the most confusing aspects of the process for first-time homebuyers is the mortgage. Common homebuyer questions include: Where to get one, how to get one, and what does all that jargon mean? Advice abounds, especially on the […]

Do Not Apply For Credit Before Close of Escrow

Tuesday, May 12th, 2015

Do Not Apply For Credit Before Closing of Escrow You found your dream home and you are under contract. So what’s next? First thing first: Do Not apply for new credit between the time you apply for a home loan and the day the mortgage closes aka close of escrow. The price of ignoring this […]

The 6 Steps to Securing a Home Loan

Tuesday, April 21st, 2015

The 6 Steps to Securing a Home Loan From the word “mortgage” to the methods used by lenders to determine how much to loan, the home loan process can be confusing to first timers. In fact, one third of the respondents to a 2011 Wall Street Journal survey of homebuyers said that the most difficult […]

Conventional Loan 3% Down Payment buying a house in Gilbert AZ

Tuesday, December 23rd, 2014

Conventional Loan 3% Down Payment for buying a house in Gilbert AZ Conventional Mortgage Loan 3% Down is a Fannie Mae program that requires a minimum down payment of 3% for homebuyers with limited funds. This is a lower down payment than FHA financing, and these loans also usually have lower mortgage insurance (MI) costs. […]

What is VA Loan?

Tuesday, September 30th, 2014

What is VA Loan? VA Loan Program The VA Home Loan Program ensures that all veterans are given an equal opportunity to Buy a Home in Gilbert AZ with VA assistance. The program helps veterans finance the purchase of homes with favorable loan terms and with an interest rate that is still competitive with conventional […]

5% Gift Down Payment Program

Sunday, July 13th, 2014

New 5% Gift Down Payment Program for Conventional Mortgage Introducing New 5% Gift Down Payment Program from our lender partner. Entire 5% down payment can be gifted by another person. For example, family members can give down payment for your new home with conventional loan. Academy’s expanded requirements take the stress out of using gift […]