First-Time Buyer Tax Credit Can Now Be Used As Down Payment
Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, on Tuesday said that the Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8,000 tax credit as a down payment. Previously, most buyers...What to do when your Mortgage is Rejected
Don’t be surprised if your friendly lender, the one who invites you to sit down and apply for a mortgage, ushers you politely out the door empty-handed after you’ve chatted a bit. The sudden chill isn’t personal. The Mortgage Bankers Association, or MBA, in...Mortgages Tailored for Islamic Home Buyers
A few years ago, an Islamic home buyer would have found it almost impossible to get a mortgage compliant with Islam’s sharia law, which prevents the faithful from paying interest. Today, sharia-compliant loans are a growing market.
Mortgage Tips: Get Ready
Here’s a warning for potential borrowers: Nervous lenders have tough new rules and are paperwork-crazy. Borrowers are going to have to prove they are the borrower they say they are; homebuyers should consider these things before they apply for a loan. 1. Down payments...The NEW Home Mortgage. What You Need to Know
Shopping for a home loan? Things have probably changed since the last time you purchased. Here’s a great article for CNN keeping you up on what you need to consider.
