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What is the VA Funding Fee

For most VA purchase money loans, the answer is a direct 2.15%. But the funding fee is more than just a number or a percentage but a key ingredient in the entire VA home loan program. Let’s break down what the funding fee is, its origin and why it’s necessary to...

What is hard money

Hard-money or hard-equity refers to lending with little documentation or zero documentation on investment property. Unlike conventional financing hard-money lenders often lend to borrowers with no credit reports, zero bank statements and no tax returns. These types of...

What Is a Reverse Mortgage

Are you a retiree? Maybe you’re getting close to retirement? There is a mortgage program you’ve probably heard of but it can take a bit of explaining. Just the term “reverse mortgage” sounds counterintuitive. What does the term mean? The term “reverse” is compared to...

What is a Direct Lender and Why is it Important

The mortgage industry continuously evolves as lending guidelines change, new programs are offered and federal regulations are implemented. Yet even with these changes mortgage lenders mostly offer the same basic suite of mortgage loans including government-backed...

What Income Can I Use to Qualify for a Mortgage

Lenders are required to verify a borrower’s ability to repay the mortgage. Doing so protects both the lender as well as the borrower. The borrower takes out a mortgage and the monthly payments are comfortable for them and the lender is protected by receiving what is...

What Hard Money Lenders Look For

Real estate investors are always on the lookout for new opportunities. They know that when a potential project is found, many times it’s how quickly the investor can come up with the financing. Investors like to keep as liquid as possible in order to have cash on hand...