What Are USDA Loans? The USDA Rural Development Loan Program, or USDA loans for short, are designed to make rural housing more affordable. USDA loan program eligibility depends upon applicant income and the purchase property location. The USDA Rural Housing program is for residential purchases and rate-and-term refinances only – no cash out refinancing. All USDA loans … Continue reading USDA Loan Guidelines
Conventional Mortgage Loan Basics
What is a Conventional Mortgage Loan? A conventional mortgage refers to a loan that is not insured or guaranteed by the federal government. In contrast, an FHA mortgage loan is insured by the Federal Housing Authority and VA mortgage loans are backed by the Department of Veterans Affairs. Conventional loans can be either fixed or an … Continue reading Conventional Mortgage Loan Basics
Mortgage Pre-Approvals Help House Hunters
Shopping for a New Home? Will you be dropping by a few open houses this weekend? Take a pre-approval letter with you! I can quickly assess your financial situation and provide a pre-approval for your home shopping needs. Mortgage pre-approvals provide house hunters with a number of benefits: Your Realtor knows you’re serious when you … Continue reading Mortgage Pre-Approvals Help House Hunters
Why It’s Important to Get Pre-Approved for a Loan
Get Pre-Approved First of all, let’s make an important clarification. Pre-qualifications are not the same as pre-approvals. Pre-qualifications will give you an idea of what kind of loan you may qualify for and can typically be completed in minutes. This informal estimate may be just fine for those in the very early stages of the … Continue reading Why It’s Important to Get Pre-Approved for a Loan
Steve Kern 