Blog
Down Payment Assistance Programs
There are down payment assistance and low down payment programs available both nationally and locally. I have written below the descriptions of each program to aid in understanding what is available. During your initial conversation, we will review your financial situation to see what is the best fit for you. For most first time buyers,…
Read MoreOccupancy
There are three types of ways you can utilize a property you are financing. They are a primary residence, second home, or investment property. A primary residence is a home in which you live in as your principal residence, and typically occupy at least a majority of the year. In order to be eligible for…
Read MoreInquiries
Many people ask what type of inquiry is associated with a mortgage pre-qualification. Anytime you apply for credit it’s a hard inquiry. When you apply for non-credit things, like utilities, employment, insurance, that is more likely a soft inquiry, but depending on the circumstances it could be a hard inquiry as well. A mortgage pre-qualification…
Read MoreTermite Inspections
Termite inspections are typically not required. But, let’s learn about when we do need to review the report. The VA loan is the only product which requires a termite report to be completed and reviewed by us. The only exception is if the buyer is using VA financing to purchase a high-rise condo [termite inspections are…
Read MoreFHA Condo Approval
We process FHA submissions in house and submit them to the Department of Housing and Urban Development (HUD). Their review will likely take 2 weeks to 30 days. FHA condominium approvals are valid for the entire project for two years. Prior to December 2009, once approved a condo was always approved, but that is no…
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