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There are numerous types of loans available for different types of buyers.  Conventional, conforming, non-conforming, FHA, USDA, VA, 203k Rehab Loan, fixed rate and adjustable mortgages are just a few of the loan products available. Each mortgage has different requirements in order to qualify. Some require nothing down including the USDA and VA mortgage, others require anywhere from 3% up to 20% or more in order to qualify.  Your monthly take home pay, credit score, current bills and payment history are all taken into account when determining your approval.  Some products weigh heavier on your credit score while others will look at the whole picture and your ability to make the monthly payment. Most buyers don't even think they qualify, contact a local mortgage broker today - you might be surprised!

Found 20 entries about Home Mortgages.

Unless you're one of the select few who can pay the full price of real estate with cash, you're going to need a mortgage to afford your purchase. Lenders look at your down payment and income to determine if you qualify for a loan. They also want to know how you handle your finances and they can get that information by looking at your credit report.

If you want to see what lenders see, you can order a copy. By law, you're entitled to one free report every year from each of the major credit bureaus: Equifax, Experian, and TransUnion. You can only get the document online without paying or subscribing to anything from AnnualCreditReport.com. If you order each bureau's option every four months, you'll get a constant picture of your credit throughout the

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If you're looking for the ideal time to buy property in the Vancouver-Longview area of Washington, now may never be better. Housing values are on their way up and interest rates, while also rising, are still affordable. If you're curious about what your monthly payments might be, those depend on the type of mortgage you get and at what interest rate. Bankrate offers the following examples of a $200,000 loan with 20 percent down, no points and an excellent credit rating of 740 and above. Your actual payments will vary.

Fixed Rate

The major advantage of a fixed-rate mortgage is that your monthly payment remains the same, making it easier to budget over the entire term of the loan. Qualification is a bit more stringent because the interest rates can be

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There are two types of mortgages: fixed rate and adjustable rate. A fixed rate mortgage never changes throughout the life of a loan. This can offer more stability than adjustable rate mortgages, which increase and decrease based on prime rate. For adjustable mortgages, if the mortage rates go up, so do your payments. On the other hand, if they go down, your payments do as well. The issue with this is that adjustable rate mortgages are unpredictable, making it hard to make a long-term budget. Fixed rate mortgages never change depsite how volatile the rates are, making this a very appealing option for many people who want to be able to make long- and short-term budgets. And if the mortgage rates go up, you will actually be saving money, because your rates

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There aren't enough ways to repay a military serviceman who has fought for his country--but a VA housing loan tries to do its part. If you are a military member who has served at least 181 days on active duty, or in the National Guard or Reserve for at least six years, or are the spouse of someone who has been killed in the line of duty, you may be eligbile for a Veterans Administration (VA) home loan

The VA loan has its origins in the original Servicemen's Readjustment Act, also known as the GI Bill of Rights, which was signed into law by President Franklin D. Roosevelt in 1944. The loan was meant to provide veterans and their familiies housing assistance through a federally guaranteed loan with no down payment. Since its creation, the VA loan has

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Washington State has solid and growing rural and agricultural community. As such, it is a prime location for home owners looking to take advantage of the USDA Zero Down Payment Program. The United States Department of Agriculture provides a program for low to mid income families looking to move into a home in a rural or agricultural community.

Because this is a federally guaranteed loan, qualifying applicants will find that they are fully financed meaning you aren’t required to put down any money up front. The loan must be no more than the value of the home as appraised. There is no limit to the purchase price, what matters is the qualifying ratios, which are twenty-nine percent for housing costs, and that you have an established income. Special

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Most veterans are aware of the existence of VA HOME LOANS, but through rumored myths some have never applied for one.The reasons are numerous, ranging from “I have bad credit” to “I don’t know where to begin.” The home loan program for veterans is not as hard to navigate as you would think, and with options for those of us with bad credit, or are first time home buyers, or looking to refinance their existing loan, here are a few reasons to dispel any misgivings about VA loans and apply today.

It’s easy to get in contact with a VA loan qualified expert. Simply search for the type of loan, loan amount and state and you’ll be in contact with someone qualified to take you step by step through the process.

Qualifying is simple. Answering a few questions

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Buying a new home is an exciting course in many people's lives. The novelty of settling in a new area and of finding that warm-hearted domicile sure is a highlight of joy. Finding the right home loans can sometimes become overwhelming and consuming. This article will present information for detailing what kinds of loans will work best for any situation.

The Washington Department of Financial Institutions (DFI) regulates and licenses banks and other lenders that provide home loans to consumers. These regulations are designed to help protect the consumers and the banks. The DFI has provided some information about obtaining a loan and which loans are best for what houses.

Managing Credit

The DFI encourages consumers to take inventory about their

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If you are thinking about purchasing a fixer-upper or if you are currently living in a home that needs work, you may be considering your options for financing the costs of the repairs. With the current state of the real estate market, many lenders have considerably tightened their underwriting requirements, making it more difficult to qualify for a conventional home improvement loan than before. Even if you find a lender who is willing to loan you the money needed to fix up your home, these loans are typically more expensive than most mortgage loans, and you will have two monthly payments to keep up with. You may be surprised to learn that the FHA has programs available to help homeowners and prospective homeowners make the necessary repairs to their

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VA loans are one of the military benefits offered to both retired and active service members. Typically, obtaining one of these loans involves a simple process of application and acceptance. The necessary paperwork must be in order, but beyond that, the process is quite streamlined.

The applicant applies for pre-qualification that validates the individual’s seriousness about purchasing a home. Once he is pre-qualified, he will receive a certificate of eligibility. Not only does this allow the service member to have a price range to search in, but also, it provides a sense of commitment in purchasing a home to the potential seller.

Service members can obtain a VA loan with reasonable terms in order to purchase a home. Instead of going to a mainstream

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You have your new house under contract at a great price and now need to arrange for a mortgage. Your bank may offer you the option of paying “points” in exchange for a lower interest rate. So, what exactly are points? Furthermore, when should you consider paying them?

A mortgage point is simply 1% of the loan amount. For example, if the mortgage is $300,000, one point would be $3,000. In exchange for paying the lender $3,000 up front, you will receive a lower interest rate (typically one-eighth or one-quarter percentage point lower) during the term of the loan. Let’s look at an example of how this works and how to determine if paying points might be beneficial.

In this example, assume that the purchase price of the home is $300,000 and the bank is

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