Bad Credit Mortgages- Making The Dream Of Home-ownership Come True
Bad Credit Mortgages- Making The Dream Of Home-ownership Come True
Bad Credit mortgages makes the American dream of home ownership a possibility even for people with less than perfect credit scores. Sub-prime loans (also called second chance lending) are usually granted to people with credit scores of less than 680. Sub-prime loans are generally required by people who have missed more than two payments in the last 12 months; have a judgment, foreclosure, or eviction against them; declared bankruptcy in the last 5 years; or have a generally defined high risk of default. Back in the 1930s, the 30 year fixed rate mortgage was introduced as a financial instrument. Since then, the rate of home ownership has doubled and two-thirds of Americans own their own homes today. Read more...
Categories: Credit, Home buying, Mortgage Tags: bad credit mortgage, bad credit mortgages, Buying a home, Credit, home loan, home loan financing, home loans, home mortgage, Mortgage, mortgage credit, mortgage financing, mortgage for people with bad credit, Mortgage loan, mortgage loans, residential mortgage
Shopping for your home?
Shopping for a home?
Find out the important in’s and out’s of shopping for home with this very informative video produced by HUD. It details important information that will help you when shopping for a home.
You will learn these important points:
- Home counseling: why it may help you
- Expenses: determining how much house you can afford
- Credit reports & credit score: why you should check it in advance
- Real Estate agents: types of agencies
- Purchase contract: what it contains and why it is important
- Earnest money deposits: what are they for and how you could lose it
and much, much more.
Categories: Home buying Tags: Buying a home, Closing cost, Credit, Credit score, Finance, first mortgage, Home buying, home inspection, home loan financing, home loans, home mortgage, Mortgage, mortgage financing
Location, Location, Location – Buying a Home in Florida
1) These are the three most important words in Real Estate. Florida is a state with multiple personalities, from quirky Key West to sleepy St. Joe. Lifestyles vary greatly from place to place in Florida, so it’s important to decide not only where you want to live, but how you want to live in Florida.
2) Rural areas in Florida are often laid back and quiet but may lack public transportation, cultural centers and shopping choices. Cities may offer culture and excitement, but can be very impersonal and unfriendly.
3) Lakes and rivers are plentiful in Florida, offering great fishing and boating. The drawbacks to living in Florida on fresh water are occasional floods and alligators. While living in Florida on the beach is great, the drawbacks include the high price of beachfront property, over-crowded beaches, and of course tropical storms and hurricanes.
Categories: Mortgage Tags: Buying a home, Home buying