HECM guidelines
Are you wondering how reverse mortgage works? There are three kinds. One is the single-purpose reverse mortgage offered by non-profits and some local government agencies. Another is the proprietary reverse…
Home insurance vs. mortgage insurance
How does home insurance work with a mortgage? You may be confused with all the financial jargon that lenders tell you, so allow us to help you simplify the terms.…
Is 627 FICO score enough for mortgage?
Having a credit score of 627 may not be the best score to have if you want to apply for a mortgage, but it is not the worse either. 627…
What does a mortgage loan officer do
Loan officers are a borrower's guide in the home mortgage application. For example, if you have been interested in taking out an FHA construction loan, then your mortgage officer will…
Co-signing a mortgage loan
The COVID-19 pandemic hit us hard and most, if not all of us, are still reeling from the effects of it. Because of the pandemic, even the minimum requirements for…
How a loan officer can help
Who will help you when you think you need to avail of a federal home refinancing program? How does the FHA construction to permanent loan work? What about availing of…
FHA loan requirements 2020
FHA or Federal Housing Administration is the largest insurer of home mortgages since it was created. FHA is the provider of mortgage insurance to FHA-approved lenders. So if you are…
How to cancel FHA MIP or conventional PMI mortgage insurance
What is FHA MIP? FHA MIP, or mortgage insurance premium, is a type of insurance policy that protects the lender if the borrower defaults on the loan. This insurance allows…