Home Loan Learning Center
What Is The Difference Between USDA Guaranteed And Direct Loan
One thing many potential borrowers are unaware of is that there are two distinct types of USDA loans, the Direct and the Guaranteed.  USDA Guaranteed Loan The USDA Guaranteed Loan is facilitated by traditional lenders such as banks and mortgage companies. It allows borrowers ...
USDA Guarantee Fee
What Is The USDA Guarantee Fee? The USDA guarantee fee is a crucial component of USDA home loans, designed to facilitate 100% financing for eligible borrowers in designated rural areas. It consists of two main parts: the upfront guarantee fee and the annual USDA loan ...
Letter of Explanation for Credit Inquiries – How to Write One?
When you apply for a mortgage, your lender may request a letter to check your credit score and credit history. Part of this financial background check includes credit inquiries and any gaps in employment history. A credit inquiry is when a lender checks your credit ...
USDA Structure & Property Requirements
When looking into a home purchase the USDA Home loan program is a great option as it is intended to help individuals get into a home without having to put a down payment on the property. However, the USDA program has a lot of guidelines ...
What Is A USDA Construction Loan? Requirements for 2024
While a regular USDA loan lets you buy a house that’s already built, a USDA construction loan lets you build a new one instead. USDA considers a property new construction if the dwelling has been built within 12 months and has never been occupied. What ...
Appraisals Versus Home Inspections
Do I need both? Home appraisals tell you how much a home is worth, and a home inspection tells you why you might not want to buy it, regardless of price. Both processes have the capacity to derail home purchases. Â Home Appraisals Home appraisals ...
What is a RESPA?
The Real Estate Settlement Procedures Act (RESPA) is an act passed by Congress in 1974. It was designed to protect potential homeowners and enable them to become more informed consumers. This act requires lenders to provide more information to borrowers at certain points in the ...
How To Get A Zero-down Mortgage
Here at Consumer Real Estate we specialize in helping individuals utilize the USDA Home Loan Program to make the dream of home ownership a reality. The USDA Home Loan program is a 100% financed program that allows people to purchase a new home with no ...
Why I Love Being a Loan Officer.
What Does A Loan Officer Do? Being a loan officer is the greatest job someone could have. Â In my position, I get to work with someone from the first time they call in or fill out an online questionnaire and see them into their ...