Major lenders are beginning to lend on manufactured homes.  For a long period of time, lenders had stopped making mortgage loans available to manufactured homes.  A few lenders will lend on single wides, but most of our lenders are now lending on [...]

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Should you not be able to obtain a regular mortgage loan. "Hard Money" ("HM"), also called "Private Money", may be available. HM is a bit pricier than a regular mortgage loan. "Points" paid a broker or lender as a commission typically range from[...]

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The Fixed-Rate mortgage provides a fixed payment for interest and principal payments for the life of the loan.  These rates are usually higher than the initial rates of Adjustable-Rate mortgages.  A primary benefit of the Fixed-Rate is that[...]

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The Adjustable-Rate mortgage (ARM) differs from the Fixed-Rate mortgage in that the interest rate paid on the unpaid principal balance  changes during the lifetime of the mortgage.  There is a starter rate which remains constant for a [...]

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The FHA home loan is directed toward borrowers who may have difficulty meeting the requirements of a conventional mortgage. The down payment may be as little as a 3.5% the purchase price.  The primary drawback of an FHA loan is that for down [...]

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The purpose of VA home loans is to permit Service members, Veterans, and eligible surviving spouses to become homeowners.  A major benefit of these home loans is that no down payment is required. We are honored to be able to offer VA loans for [...]

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USDA loans provide low income applicants to purchase a property with no down payment in rural or suburban areas.  The household income must not exceed 115% the area average income.  These loans are guaranteed by the United States Department[...]

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Renovation loans are similar to a cash-out refinance.  Since they are usually a first mortgage, all existing liens will have to be paid upon closing.  Not all funds may be released at closing but may be held in escrow to be paid out in [...]

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A loan that exceeds the local conforming loan limit is called a "Jumbo Loan."  Qualification for these loans is more stringent and usually requires a down payment of at least five percent.  The unpaid principal balance can be as high as [...]

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Refinancing is based upon the current market value of the property.  If the property is currently being financed and is to be refinanced by the same lender, it is likely a new appraisal will not be required.  Other the borrower will [...]

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