Home Loan Learning Center
Why Are Mortgages 30 Years Long in the United States?
It is important to understand why you can only get a thirty year mortgage from the government. You might have read about interest only and ARM plans. USDA loans and Rural Development loans are only offered in classic, thirty year formats. Many people are interested ...
How To Get A USDA Loan With Student Loans? Guidelines, and DTI Limits
Obtaining a USDA loan while managing student loans requires careful consideration of eligibility criteria. Even with existing student debt, borrowers can still qualify for a USDA loan if they meet certain requirements. Understanding Debt-to-Income (DTI) Ratio One crucial factor in securing a USDA loan with ...
USDA Home Loans For Disabled Persons
If you have acquired a new disability due to an illness or injury, you do not need to depend on a friend or family member to house you. People with steady incomes can apply for Rural Development Loans to pay for new structures. Your new ...
USDA vs. FHA Loans: What’s the Difference Between The Mortgages
USDA and FHA loans offer borrowing terms for people who might find it hard to qualify for a conventional mortgage to buy a home. FHA and USDA loans are geared toward people with low incomes and less-than-stellar credit scores who might not be able to ...
Relocation Loans for Moving – What Is It And How To Get It
What is a moving or relocation loan? A relocation loan, also known as a moving loan, is a type of personal loan designed to provide financial security during a move. Whether you’re relocating for personal reasons or for business purposes, a relocation loan can help ...
Mortgage Process Steps In The Application
Home buying is the biggest investment most people will make. It’s also the most enjoyable one because you are buying a home where you will live and enjoy life. Unless you have a sizeable amount of cash to buy a house, you will need to ...
What Is Community Property State?
The nine community property states are: Arizona California Idaho Louisiana Nevada New Mexico Texas Washington Wisconsin Community property means that spouses who buy property during marriage own property equally. If the couple divorces, community property is divided 50 / 50. Understanding Spousal ...
USDA Underwriting Guidelines
You will encounter the first step through an automated underwriting system. There are several types, and these computer programs evaluate your credit and financial profile to make a preliminary judgment based on your information. USDA lending utilizes an automated system known as GUS. Guaranteed Underwriting ...
What Is A Trade Line On A Mortgage And How They Affect Credit Scores
What Is a Trade Line? A trade line is like a snapshot of your financial history found in your credit report. It includes all the accounts you have, such as credit cards, loans, or any other credit you’ve used. Each trade line shows how you’ve ...