Lifestyle Mortgage Blog

What is an FHA Loan? Annette Bui| Updated May 13, 2020 | Mortgage Programs 101 An FHA loan is a program offered by the Federal Housing Administration, designed to help consumers with imperfect credit rating or little down payment to qualify for affordable and accessible aid when buying their first home. Borrowers with lower credit scores from 580 and up, may have the opportunity to apply for financing with a down payment as little as 3.5% of the total purchase price of the house. For prospects that have credit rating from 500-579, a minimum of 10% down payment would be required along with additional compensating factors. What are the Advantages and Criteria? FHA programs are one of the more attainable products for home buyers in the market, particularly for first time home buyers. Designed to aid buyers with a more lenient guidelines and requirements for credit, income and ability to repay. From buyers searching for their first home or looking to get federal aid for renovatin...

The BEST Loan Program for Veterans! Annette Bui| Updated May 11, 2020 | Mortgage Programs 101 A VA mortgage is a specialty product provided for active military personnel or honorably discharged U.S. Veterans that also extend to surviving spouses for a deceased military member. Designed to aid in the financing operations that help Veterans and surviving family members for zero down payment. Advantages of a VA Mortgage The Annette’s team excels at helping consumers who have served our country qualify for a mortgage. This empowers veterans to obtain federal aid to secure their dream home through more lenient underwriting requirements, higher purchasing power due to lower interest and fees and more flexible payment plans. TIPS for Qualifying Although VA mortgage products allow zero down payment, oftentimes there is a one-time funding fee that is charged based upon the loan size as well as the loan type. VA mortgage products are more viable alternatives for home buyers becau...

Add caption What is a Conventional Mortgage? Annette Bui| Updated May 10, 2020 | Mortgage Programs 101 The mortgage process may be extensive, but it does not have to be overwhelming because you are not alone. My goal is to help educate, share, and devise a plan so you can be empowering with all the necessary tools and resources to help you understand and make smart informed decisions for your financial future. WHAT IS A CONVENTIONAL LOAN? Conventional loan products are not backed by the government or a government sponsored enterprise such as Fannie Mae or Freddie Mac. This means the criteria for the program can be significantly different in comparison to what the average consumer believes it to be. Mortgage products that are guaranteed by federal government additional to the Federal Housing Administration, such as the Veterans Affairs (VA loans) or United States Department of Agriculture (USDA loans). VA loans are designed for active or honorably discharged veterans, whereas, USDA prog...

All about VA Loans! An nette Bui| Update d May 2, 2020 | M ortgage Programs 101 A VA mortgage is a specialty  product provided for active military personnel or honorably discharged U.S. Veterans that also extend to surviving spouses for a deceased military member. Designed to aid in the financing operations that help Veterans and surviving family members for zero down payment. Advantages of a VA Mortgage The Annette’s team excels at helping consumers who have served our country qualify for a mortgage. This empowers veterans to obtain federal aid to secure their dream home through more lenient underwriting requirements, higher pur chasing power due to lower interest and fees and more flexible payment plans. TIPS for Qualifying Although VA mortgage products allow zero down payment, oftentimes there is a one-time funding fee that is charged based upon the loan size as well as the loan type. VA mortgage products are more viable alternatives for home buyers because ...