Blog Category: loan types

Five FHA Loan Facts to Know Before You Buy A Home


FHA, known as the Federal Housing Administration, offers a mortgage loan requiring borrowers to have mortgage insurance on the loan. The FHA loan originated during the great depression and has contributed to the growth of the housing market ever since.  Read More

PMI versus LPMI versus 1st trust/2nd trust Combo Loan

Everyone likes to think PMI (Private Mortgage Insurance) is evil. Everyone likes to think they should not have to pay it, and everyone wants to find a way around paying it. There are ways to work around PMI, but like all things in life, there are trade-offs. A person really needs to look at all the options and trades-offs, and consider how long they think they are likely to spend in their new home. Then everyone needs to consider paying PMI! What do I mean? Read More

Don’t Worry, It’s Easy To Get A Loan!

Each mortgage lender has dozens of loan programs, and there must be hundreds of lenders. We work with 50 lenders or so, and each lender may have a different interpretation or guideline for each facet of the loan; related to credit, income, appraisal, assets and debt ratios. Imagine the hundreds or even thousands of permutations, Read More