Mortgage loan

After reviewing the buyer's credit, down payment, and income, the lender will give a maximum approved amount for a mortgage. This helps narrow down the price range a buyer should be looking in. Type of Home There are several types of homes available in most real estate markets. These range from suburban homes in planned neighborhoods to loft spaces in the warehouse…

15 Things about Mrs. Schwade I used to be really quiet. In high school, I rarely spoke in class. I did what I was supposed to without questioning anything. I was shy, reserved, and not confident. After my senior year of high school, I was crowned Miss West Union. I earned a $500 scholarship, perfected my parade wave, and have a tiara. I was second runner up in Miss Fayette County and received a trophy! Before I married my husband, I knew nothing about farming, tractors, corn, soybeans, etc. Now…

Tips for Refinancing Your Home Loan What is a home loan refinance? Refinancing of a home loan signifies full repayment of an existing home loan with another loan with lower rate on interest compared to the previous loan. This allows the borrower to take the benefit from the interest rate spread, and thereby, taking advantage of a perfect hedging opportunity. However, to refinance your home loan can prove to be beneficial, when the interest on the home loan is fixed, and therefore,…

consider; rent-to-own, foreclosure forgiveness, FHA loans or hiring a Broker is just a few. Banks used to look at foreclosures as a black mark on your credit, however with the 2008/2009 crash; they don’t look at them as harshly as they once did. A few things to consider about these three options are: Rent-to-own: Is a term…

the loan on the market and explain the deference between Conventional, FHA and VA loan. However, because my client is a US military veteran it’s more beneficial for him, to go with the VA loan. I would be explaining deeply about the advantage and disadvantage of the VA loan and going over the bury market in the area he/she is looking home. I would explain that this type of loan is just for eligible service members and veterans, which is the provided by Veterans Affairs Department’s home loan…

What is a Jumbo Loan? Put simply, a jumbo loan is a mortgage loan that is higher than conventional loan limits. Every year, the two largest agencies, Fannie Mae (FNMA) and Freddie Mac (FHLMC) set a limit on the amount they will pay to purchase home loans. The current limit for a conventional loan on a single-family home, in all but two states, is $417,000. Jumbo loans make it possible to purchase the high end home of your choice when the amount exceeds the limit. Jumbo Mortgage Loan…

The Department reviewed audited financial statements provided by First Guaranty Mortgage Corporation for year-end 2014 and 2015. Richey May & Co. completed the independent audits in accordance with generally accepted accounting principles. The financial analysis is based on a review of the stated financial condition of the company and should not be considered an attestation regarding the validity of the figures. Capital The capital position of the Licensee appears…

Closed-end credit A one time loan that is repaid in equal payments by the end of the term. The loan is repaid in full amount by the end of the term, by a specific date. Interest is charged on the amount borrowed and it usually is a specific amount that remains the same for the term of the loan. This kind of credit if used mortgages, car loans and and installment loans. Sometimes the seller holds the title (like a car or mortgage) or ownership of the item until the loan is paid off. One example…

Fast loans are a way of getting a loan quickly. There are numerous types of fast loans, from check advance loans to personal loans. Some are harder to get than others. Some require collateral while others do not. They all vary in the terms and conditions, so when looking for a fast loan it is important to weight the options. Check advance loans are where a person gets a short term loan that they secure by writing a post dated check. These loans are usually given for a short period of time,…

ensure compliance with policies and procedures. Starting in May, the Director, Gretchen Schoer, will sit with each employee throughout the loan process and review what the employee should be doing to meet compliance procedures, checklists, and program guidelines. The Quality Control process is supervised by an external firm, TENA, and remains independent of loan production and servicing functions. A written agreement is in place that states the roles and responsibilities of each party and is…