Mortgage Advice for Financial Freedom by Finance Expert Jim Pate
A Little Insight Into What Causes Mortgage Rates to Change? By Jim Pate One of the most common questions I am asked by consumers and Realtors is, “What is the rate today?” Well, that is not an easy question to answer since mortgage rates are constantly shifting due to a variety of factors. There are…
Which Loan Program is Right for You? By Jim Pate When it comes to mortgages, tradition seems to be king. The 30-year fixed loan is still the gold standard for borrowers and loan officers, alike It is so entrenched in our way of thinking, that industry insiders and government regulators refer to every loan program…
A Program for Low-Income Borrowers and Communities HomeReady by Fannie Mae is an affordable low down payment loan program designed for borrowers with income at or below the area median income (AMI) and minimum FICO scores of 620. Communities, which are designated as low-income communities have expanded eligibility, which includes no income limits. Why HomeReady?…
Beautiful Music to the Ears of American Homeowners The HARP loan program was initiated to help Americans who are “upside-down” or “underwater” on their home loan, which essentially means that they owe more on their home than it is worth. During and following the mortgage crisis of the previous decade, many people found themselves in…
FHA Home Loan Programs The Federal Housing Administration (FHA) is a division of the Department of Housing and Urban Development (HUD), which insures loans; making home ownership possible for American’s with income, employment, asset or credit challenges. Their mission statement will give you a good idea about what they hope to accomplish by insuring low…
Loan Programs for Those Who Serve As Americans, we hold many things to be sacred. One of the most is revered, is one’s service to our country. Those who have laid their lives on the line to ensure freedom around the world are typically given the respect they deserve by their fellow Americans. That being…
