Her is the number 12 and 13 of thee 20 whats of home mortgage.
12. What are impounds or escrows? - It is when the property taxes and home owners insurance are included in your payment. This is required by FHA, USDA and VA. For conventional loans you will have a slightly higher interest rate if you do not have impounds.
click here for FREE home mortgages evaluation
13. What is mortgage insurance? – It is an insurance that you will mortgage. It is an insurance policy for the lender. Should you default that policy will pay off the loan to the lender. It will not pay you payment! FHA, USDA and conventional loans under 80% loan to value (LTV) require mortgage insurance.
FREE credit evaluations here
Keith Woeste
Home Loan Consultant
American Financial Network
330 Tres Pinos Rd.,Ste F3
Hollister, CA 95023
"Making Clients Family for Life"
PH.831-801-8667
FX. 831-665-5260
NMLS#292588
To complete and secure online application go to http://www.hollistermortgage.com
http://www.repairmy-fico.com/
http://www.hollistermortgage.com/
http://www.mortgages4california.com
Showing posts with label "home loans" "home buyers" "California mortgages" "California home loans". Show all posts
Showing posts with label "home loans" "home buyers" "California mortgages" "California home loans". Show all posts
Tuesday, March 27, 2012
Wednesday, February 22, 2012
Tha 20 Whats of Home Mortgage # 6 and 7
So here is the number 6 and 7 what of home mortgage. For more Information on California Home Loans go to mortgages4california.com
6. What are the different loan types? There are FHA home loans which are backed by the Federal Housing Administration. FHA home loans offers 2 types of loans. They are Conforming (up to $417,000) and High Balance ($417,000 to $625,500). There is a slight difference in interest rate.
USDA - Home loans are back by the US Dept of Agriculture. These loans have limited loan amounts due to income limits. USDA is for low to moderate income families.
VA - Loans are backed by the Veterans Administration. They are for veterans and current military. VA offers 100% financing on loans up to $625,500, but loan amounts are limited by your entitlement amount.
Conventional Conforming - Loans are loans backed by Fannie Mae and Freddie Mac that offer loan amounts up to $417,000.
Conventional High Balance - Are loans backed by Fannie and Freddie that have loan amounts $417,000 to $625,500. But the maximum loans amounts are dependent on county loans limits. These limits are based on county incomes.
Jumbo home loans - Are loans with loan amounts from $625,500 and up. These guidelines are much stricter. FICO scores need to be higher and down payments are higher. Why? Because, these loans are not backed buy and government programs. These are made by private investors and they want more security for their money.
For a preappproval and more info Click here hollistermortgage Up to date information on home loans.
7. What is a preapproval? - A preapproval is a loan approval based on the application, credit report, bank statements and pay stubs. This is not a full approval. This is an approval based on basic information provided by a borrower.
Keith Woeste
American Financial Network
NMLS 292588
831-801-8667
hollistermortgage
mortgages4california
repairmy-fico
6. What are the different loan types? There are FHA home loans which are backed by the Federal Housing Administration. FHA home loans offers 2 types of loans. They are Conforming (up to $417,000) and High Balance ($417,000 to $625,500). There is a slight difference in interest rate.
USDA - Home loans are back by the US Dept of Agriculture. These loans have limited loan amounts due to income limits. USDA is for low to moderate income families.
VA - Loans are backed by the Veterans Administration. They are for veterans and current military. VA offers 100% financing on loans up to $625,500, but loan amounts are limited by your entitlement amount.
Conventional Conforming - Loans are loans backed by Fannie Mae and Freddie Mac that offer loan amounts up to $417,000.
Conventional High Balance - Are loans backed by Fannie and Freddie that have loan amounts $417,000 to $625,500. But the maximum loans amounts are dependent on county loans limits. These limits are based on county incomes.
Jumbo home loans - Are loans with loan amounts from $625,500 and up. These guidelines are much stricter. FICO scores need to be higher and down payments are higher. Why? Because, these loans are not backed buy and government programs. These are made by private investors and they want more security for their money.
For a preappproval and more info Click here hollistermortgage Up to date information on home loans.
7. What is a preapproval? - A preapproval is a loan approval based on the application, credit report, bank statements and pay stubs. This is not a full approval. This is an approval based on basic information provided by a borrower.
Keith Woeste
American Financial Network
NMLS 292588
831-801-8667
hollistermortgage
mortgages4california
repairmy-fico
Monday, February 13, 2012
Our New Website Come Visit --- TODAY!
Hello,
Wanted to tell you about our new website. It is an awesome site. Got to hollistermortgage for a FREE hoem loan evaluation.
We offer FREE credit reports and FREE home loan consultations.
American Financial Network offer outsatnding service where we treat you like part of the family. We have VA, FHA, USDA, Conventional and Jumbo Financing.
Visit hollistermortgage for FREE Interest rates quote, No obligation and No SS# required.
Keith Woeste - American Financial Network
Home Loans Consultant
hollistermortgage
Wanted to tell you about our new website. It is an awesome site. Got to hollistermortgage for a FREE hoem loan evaluation.
We offer FREE credit reports and FREE home loan consultations.
American Financial Network offer outsatnding service where we treat you like part of the family. We have VA, FHA, USDA, Conventional and Jumbo Financing.
We have 100 % financing with USDA and VA.
Low Down with FHA and up to 95% financing with Conventional Financing
Keith Woeste - American Financial Network
Home Loans Consultant
NMLS 292588
831-801-8667hollistermortgage
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