Archive for the 'New Home Loan' Category

What Is the ** Real ** Credit Score Needed for an FHA Mortgage?

Published by Gina Pogol on May 07, 2010 in New Home Loan . 0 Comments

500? 580? 660? Many people with credit problems would like to know exactly how much do they need to improve their bad credit before they can seriously think about getting a mortgage. Aside from bad credit mortgage lenders, the most forgiving lender on the market is probably FHA. But confusion about FHA's minimum credit score ...

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Mortgage Revenue Bond Programs for First Timers: Subsidized Interest Rates!

Published by Gina Pogol on April 23, 2010 in New Home Loan . 0 Comments

What Is a Mortgage Revenue Bond Program? Mortgage Revenue Bonds (MRBs) are tax-exempt bonds that state and local governments issue through housing finance agencies (HFAs) to help fund below-market-interest-rate home loans and / or down payment assistance for qualifying home buyers. To be eligible, you must be a first-time ...

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FHA Cracking Down on Lenders: Here's Why You Should Care

Published by Gina Pogol on April 22, 2010 in New Home Loan . 0 Comments

If your credit is, well, iffy, you'll want to take note of this. FHA is taking a hard look at lenders with higher default rates, and taking away their approval to underwrite FHA mortgages. Even if every loan they approve and fund conforms 100% to FHA's underwriting guidelines. Why should you care? A couple of ...

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USDA Is Running Out of Money for Rural Loans

Published by Gina Pogol on March 25, 2010 in New Home Loan . 0 Comments

For those with no down payment, a low or moderate income, and borderline bad credit, USDA rural mortgages can be the fairy godmother. But, unlike FHA or VA, which just guarantee mortgages underwritten by private mortgage lenders, USDA, through its direct lending program, actually funds those loans. That means the agency can run out of ...

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Down Payment Assistance, Closing Cost Help Available

Published by Gina Pogol on February 25, 2010 in New Home Loan . 1 Comments

You'd like to buy a house. You cleaned up your bad credit, for the most part, you have a good job, and you could make a monthly house payment. But how are you supposed to save up a down payment when you're paying rent? Good question. The ability to save a down payment and reserves, ...

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Bad Credit? Clean it Up or Start Saving

Published by Gina Pogol on February 05, 2010 in New Home Loan . 0 Comments

If you are planning on buying a new home or refinancing with an FHA mortgage, it's going to get tougher if you have bad credit. In a few months, FHA will not let people with credit scores of less than 580 buy a home with only 3.5% down.You'll have to come up with at ...

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3 Rude Questions Your Lenders May Ask You - And 2 They Shouldn't

Published by Gina Pogol on January 18, 2010 in New Home Loan . 0 Comments

Lenders are nosy. But they're entitled to be, to a certain extent. If you were loaning a huge sum of money to someone who wasn't your best friend, wouldn't you want to know as much about that person as you possibly could? So, yes, lenders are entitled to ask some really personal questions. But there are ...

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About Mortgage Credit Problems

Specializing in Bad Credit Mortgages… Because Life Doesn’t Always Turn Out Like You Planned. A sick child, a few late bills, or an unexpected expense can easily get you off track and your credit may suffer, but we don't think you should miss out on the opportunities available to everyone else.

Gina Pogol

Gina Pogol

About the Author:

Gina Pogol writes for an online media company about mortgage and finance. In addition to a decade in mortgage lending, she formerly consulted for Experian and other credit bureaus, and worked as a tax accountant for Deloitte. She has a BS in Financial Management from the University of Nevada.

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Recent Comments

  • Gina Pogol: Yes there is. Check any updates you get in the mail from your card issuer, and look for changes like new fee policies....
  • Gina Pogol: Ye, we heard the phrase "skin in the game" more times than we could count (although one journalist made a valiant...
  • Gina Pogol: FHA allows you to qualify for a mortgage 2 years after a bankruptcy discharge. Keep in mind though that you must...
  • Gina Pogol: Rachel, it's not that hard and fast--paying the smaller ones and letting the larger ones go--for example, always pay...
  • Gina Pogol: Alan, thanks for the question. When referring to the $7,500, we are talking about Federal income tax, not property tax....