[…] $325,000 using an FHA mortgage with 3.5% down payment and the National Home Buyers Fund Grant. […]
[…] Loan Programs […]
[…] are still very low, with pricing trending slightly higher compared to last week’s mortgage rate post. As I write…
[…] not. Depending on when your closing date is, you may or may not want to lock in your rate.…
[…] Some home buyers might opt for a Letter of Loan Commitment over a preapproval letter – this is basically…
[…] NOTE 10/23/2015: This post has been updated to include the new disclosures and wait periods required per the Dodd…
[…] preapproval letters need to be updated as credit report and supporting documents “expire”. It’s very important that […]
[…] During the preapproval stage, you will need to provide your lender with documentation that proves your income, assets and…
[…] a “clear to close”. Examples may include documenting the source of a large deposit, writing a letter explaining employment…
[…] The prequalifcation stage may consist of obtaining rate quotes from various lenders and providing lenders information […]
