Home Purchase Loan
News
Mortgage Closing Now Done Remotely
Electronic closing of a mortgage loan has been around for years – in a manner of speaking. Generally, some element of the transaction still ...
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Q&A
Asked by Jonah
Answered by David Skow, Mortgage BrokerPRO+ in Seattle , WA
The quick answer is that your maximum
debt-to-income ratio is 43% for both loan
programs. A better answer would be to consult
with a loan officer to get a more accurat...
Guide
Time To Reconsider Adjustable-Rate Mortgages?
Should you consider an adjustable-rate mortgage (ARM) instead of a traditional thirty-year, fixed-rate mortgage? An increasing number of hom...
Q&A
Asked by Tyshia
Answered by Ted Rood, Mortgage BrokerPRO+ in Maryland Heights, MO
Yes, fortunately FHA now allows borrowers to
qualify using an estimated payment of 1% of
their student loan balances. Note that even
if the loans are in deferment, or...
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Home Purchase Fixed Rate Mortgage Calculator
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News
Don't Believe These Popular Credit Myths!
Many Americans believe credit myths. MoneyTips would like to debunk them.
In a June survey, we asked 410 Americans to rate as True or Fal...
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Guide
How To Avoid Mortgage Scams
E-mail scams can take many forms, but did you realize that an e-mail scam could scuttle your home purchase? The Federal Trade Commission (FT...
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Q&A
Asked by an anonymous user
Answered by Lorene Collier, Financial / Credit Consultant
Yes, it will remain on your account for 7 more
years. Any interaction with the creditor
restarts the clock on the statute. However,
you can ask for removal in lieu of...
Q&A
Asked by Cheryl
Answered by Chad Freeman, Branch ManagerPRO+ in Bethesda, MD
Hi Cheryl:
If you are financing an "out of
state" property, it means that the property
you are financing is out of the state from
where you live. Your "primary" res...
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