Qualifying for a home loan
This category describes the qualifying requirements needed for a home loan.
The FHA down payment assistance program is intended for first time home buyers, who make enough income to qualify for a home loan but for some reason or another just don’t have the down payment needed to buy it.
Understanding how banks structure loan scenarios, can help you as the borrower better understand the interest rate that is being quoted to you by a mortgage lending bank.
An adjustable rate mortgage is simply a mortgage in which the interest rate can move up or down depending on the interest rate index that it is tied to.