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Lending Center, Loans Marketplace, Finance and Education

Financing Houses

A Guide To Finding Cheap Loans
Finding cheap loans isn't always easy it seems like every time you turn around new rates and fees are added and the loan process becomes increasingly .....
...... the required total income, proving the ability to make the mortgage payment.

4. Full-documented Loans
These loans require tax returns, employment verification, bank statements, and other individual lender demands. Other processing types, more flexible and easier for the borrower to gather information on, do not necessarily cost more. High credit scores, big down payments, and large cash reserves ease documentation requirements.

5. Conforming Loans & Jumbo Loans
According to Fannie Mae and Freddie Mac guidelines, "conforming loans" are mortgages for less than the following allowable amounts at the time of this writing:

(Unit= dwelling or housing unit)
1 unit $333,700
2 units $413,100
3 units $499,300
4 units $625,000

Note: the amounts are higher in Hawaii and Alaska. Other states like California, New York, and Florida join the higher limits this year. The dollar amount of these loans changes periodically.


All About Student Loans
A student loan is an unsecured loan made by lenders that receive government underwriting assistance. Without this .....
Conventional lenders also use the term conforming loans for loans which are not Fannie Mae and Freddie Mac loans. Conforming loans simply refers to the dollar amount; it doesnt mean you get a Freddie Mac or Fannie Mae loan.

6. "Jumbo loans" are for higher dollar amounts.
You need jumbo loans to finance properties requiring larger mortgages than the limited conventional loan amount. Jumbo loans usually charge higher interest rates than conforming loans.

7. Home Equity Line of Credit (HELOC)
If you already own your own home, consider a Home Equity Line of Credit, with few fees and lower costs, for purchasing investment property. Use this line of credit for a large down payment on your investment properties over and over. With twenty percent or more down on an investment property, you get better financing plus save on loan costs.

(c) Copyright 2004, Jeanette J. Fisher. All rights reserved.

Professor Jeanette Fisher, author of Doghouse to Dollhouse for Dollars, Joy to the Home, and other books teaches Real Estate Investing and Design Psychology. For more articles, tips, reports, newsletters, and sales flyer template, see http://www.doghousetodollhousefordollars.com/pages/5/index.htm

Are You Ready For A Home Mortgage Loan?
Buying a Home and committing to a Mortgage can be very scary!
A home mortgage loan is the largest debt that most Americans will .....




Reverse Mortgages: When Is One Right For You?
How do you know if a reverse mortgage is right for
you? The answer depends on .....