Shopping Secrets
How Much Home Can I Afford?
December 13, 2009 by Rob Spring · Leave a Comment
How much can you afford?
Deciding how much house you can afford is a personal decision. Many factors come into play. How much can I borrow? How much can I put toward my down payment? What size monthly payment can I afford?
There are no black and white answers to these questions. It’s a matter of give [...]
Zero Down Financing Still Available!
December 10, 2009 by Rob Spring · Leave a Comment
YES Zero Down Financing is still available. Although the no downpayment programs of today are not as easy to qualify for as a few years ago, they are still around!
-VA still offers the same 100% program
-Conventional programs are also available for the higher credit scoring borrowers (minimum score for conventional 100% - 680) These conventional programs even offer financing [...]
The Benefits of a VA Loan
December 10, 2009 by Rob Spring · Leave a Comment
VA Loans
VA guaranteed loans are made by lenders and guaranteed by the U.S. Department of Veteran Affairs (VA) to eligible veterans for the purchase of a home. The guaranty means the lender is protected against loss if you fail to repay the loan. In most cases, no down payment is required on a VA guaranteed [...]
Understanding ‘Discount Points’ and What They Do
December 10, 2009 by Rob Spring · Leave a Comment
How do you “buy” a better rate?
Do you plan on keeping your loan for a while? Then it may make sense to “buy” a lower interest rate by paying one or more “points.”
Even if you’re unsure of how long you plan to keep your mortgage before you move or refinance, paying points now for [...]
What’s the Difference Between Interest Rate and A.P.R.?
November 30, 2009 by Rob Spring · Leave a Comment
What is the difference between the Interest Rate and the A.P.R.?
You’ll see an interest rate and an Annual Percentage Rate (A.P.R.) for each mortgage loan you see advertised. The easy answer to “why” is that federal law requires the lender to tell you both.
The A.P.R. is a tool for comparing different loans, which will include [...]
What Does It Take to Get Approved For a Loan?
November 29, 2009 by Rob Spring · Leave a Comment
What does it really take to get approved?
That’s a good question and will depend on a few things. But for the sake of your time we are going to list a few common scenarios that should give you a good idea. Please call or email us with any questions.
1. Anyone looking to purchase that meets [...]
203K Streamline Rehab Loan
November 29, 2009 by Rob Spring · Leave a Comment
203K Streamline Loan –
Limited Rehab Program Overview
The 203(k) streamline loan program gives borrowers the ability to repairs and improvements either to the home that they currently live in, or that special fixer-upper opportunity, without the extra cost or details as found in the regular 203k. One single loan is used to pay for the (purchase or refinance) and the [...]
No Down Payment – The USDA Loan Program
November 20, 2009 by Rob Spring · Leave a Comment
The USDA Loan Program
Two of the many benefits available with USDA Home Loans are no downpayment and no mortgage insurance on your home. We can help you take advantage of these benefits, but we cannot help those who are looking for Rural Housing Direct Loans, which are 100% financed directly through the US Government.
Most people in rural areas qualify [...]
Five Ways of Making the Loan Process Go Faster
November 19, 2009 by Rob Spring · Leave a Comment
Five ways to make the loan process Go Faster
We should say that “working with us” is the first way! When you let us help you find the loan that’s right for you, you truly are taking advantage of some of the area’s best technology and expertise to get you a loan decision and funding on [...]
Top 5 Reasons to Work with Southwest Funding
November 17, 2009 by Rob Spring · Leave a Comment
Top 5 Reasons Why You Can Trust ROB SPRING and Southwest Funding With All Your Mortgage Needs:
1. Rob will analyze your current situation and discuss your goals and objectives. The first and most important step in tailoring a home loan that is best for you and your family.
2. You have a choice. Southwest Funding is a mortgage [...]