Getting your loan from a federal home loan bank (FHLB) is a great way to get your home loan, but there are some drawbacks to the process. These include the fact that most FHLBs are government-sponsored but privately funded liquidity facilities, and that they have been criticised for their role in the financial crisis. Critics…
Getting a mortgage with Rocket Mortgage can be a great choice. They are based in one of the campus Martius buildings in the financial district of downtown Detroit. They also offer a Verified Approval program. Minimum credit score required Whether you’re planning to buy a new home or refinance your current mortgage, Rocket Mortgage offers…
Getting delayed financing with Fannie Mae can be a great deal, but it can also be a bit of a hassle. Having to wait for months or even years for the process to work isn’t fun, and it can make a home feel like it’s a long way away. That’s why it’s important to understand…
Whether you’re trying to save money on your next home purchase, or you’re looking to improve your current home, an FHA rehab loan is a great way to help you achieve your goal. With a rehab loan, you can cover the cost of qualifying repairs and pay as little as 3.5% of the total cost…
Finance of America is a mortgage lender that offers a variety of loan options for homebuyers. These include fix and flip loans, single-family rental loans, and student loan refinancing. There are pros and cons to each loan type, so it’s important to shop around before selecting one. There are different mortgage companies and requirements, so…
If you’re looking for a mortgage lender that offers flexible loan options, Newrez may be the lender for you. They allow you to apply online and upload documents directly to their secure portal. Once you’ve submitted your documents, you will be provided with an electronic closing package to sign. The company also offers competitive loan…
This Prime Choice Funding review looks at the company’s loan approval and pick rates. The company has an above-average approval rate, but its pick rate is below average. The company also charges average fees for loans, which include closing costs and other borrowers’ costs. Nonetheless, Prime Choice Funding is an easy company to work with….
The FICO Score is a number that represents your credit worthiness. It is calculated from information in your credit report and is based on factors like the length of time you have had credit and the amount of credit you’ve used. This information helps lenders make smarter decisions when approving credit. Fortunately, there are some…
Housing Affordability refers to housing that is affordable to low-income households. It is determined by using a nationally recognized affordability index. There are different methods for determining housing affordability. This article discusses the limitations of the conventional methods. It also covers the impact of cost burden on affordability. After reading this article, you will be…
A Loan Amortization Schedule is a statement of monthly payments that a borrower makes throughout the life of the loan. It shows the scheduled payment amounts for every month of the loan and shows how each payment will affect the principal balance. In addition to the scheduled monthly payments, the amortization schedule also shows the…
