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Why FHA Is A Great Loan


Written by Laura Giuliano In 1934, in response to the Great Depression banking crisis and subsequent lack of home financing sources, the Federal Housing Administration was created. Its intention was to regulate the rate of interest and terms of mortgages that it insured. Before this time, mortgages were usually short-term (three to five years) and required huge down-payments (40%). This new agency dramatically increased the number of people who could afford a home, thereby also increasing[...]


Credit - Why It Matters


Written by Grace Thomson What is a credit score? Your credit score, or FICO score, is a number that ranges from 300-850.  Virtually all lenders use your credit score as a factor when you apply for credit.  Whether you are applying for a credit card, a mortgage, a car loan, or refinancing your student loans, your FICO score will more than likely come into account.  And typically the higher your score, the better the terms and rates you will be offered by the[...]


Myths of First Time Home Buyer and Down Payment Assistance Programs


Written By Linda Wallace There is a lot of information out there regarding home financing and many potential buyers are often stopped from pursuing all their options because of preconceived ideas about the process of purchasing a home.  When it comes to buyers attempting to enter or re-enter the market, the terms first time home buyer (FTHB) and down payment assistance (DPA) are often thrown into the mix.  While these programs can be useful to some, they are not for everyone and[...]