The business of buying and selling homes can be very stressful. It’s understandable – the commerce of real estate and brokerage in America in 2015 is currently worth $117 Billion Dollars with close to 1 Million people employed in this field. Realtor®s are an essential piece of the real estate process. They are often the go-between […]
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FHLC Advice: Building Your Credit
Roll the credits. Credit where credit is due. Credit cards. “Credit” is a prevalent word in our society, and this is especially true with the almighty credit score. You may remember our earlier piece on the difference between a FICO and VantageScore, but how does one boost up, or create, their credit score? THE CREDIT […]
Read MoreClosing Costs & Federal Home Loans
Although Federal home loans require either a low down payment, or none at all, there is still the subject of closing costs. As discussed in our previous Loan Terms Glossary piece, closing costs are usually two to five percent of the home’s purchase amount and must be paid at the close of escrow before the […]
Read MoreExpatriates and Federal Home Loans
Can you imagine the experience of working and living overseas while still maintaining your American citizenship? This is presently the daily life of about 8 million Americans, as proclaimed by The Association of Americans Resident Overseas. Expatriates, AKA ex-pats, are situated throughout the world with the most amount in the Western Hemisphere and the least […]
Read MoreFederal Home Loan Occupancy Rules
You have gotten approved for your loan, the closing process is about to be closed, and it will soon be time to move in. Sometimes, you can’t enjoy your new home right away. There could be a family illness, finishing up a job in your previous home town, or you could be a veteran getting […]
Read MoreHome Loans after Bankruptcy, Short Sales & Foreclosures
Financial hardships happen. At FedHome Loan Centers, we don’t judge you on why they occurred. What we want is to get you that second chance at home ownership you’ve been waiting for, after learning a hard lesson. Federal home loans from the USDA, VA and FHA are surprisingly lenient on applying again after incidents such […]
Read MoreUsing Federal Home Loans Multiple Times
When you pay off a loan, it is a great feeling. Sometimes, later on in time, you may need to take out another one. Let’s say you are retiring and want to downgrade to a smaller home or condo in a warmer area, or you have a PCS order from the military and your family […]
Read MoreMortgage Insurance Guide
As with any item in your life that costs a lot of money, insurance is needed to protect it. From your car to your body, insurance keeps you from paying full price when something goes wrong. Mortgage insurance exists so that the lender is protected when something goes wrong. They are reimbursed for their losses […]
Read MoreCondominiums & Federal Home Loans
Do you love the concept of living in an apartment building where you’re close to neighbors, have community resources, and maintenance taken care of for you? Do you also love the concept of owning a property and being done paying for it after a time period of 15 to 30 years? Federal home loans are […]
Read MoreTackling the Sarcasm of Mortgages
A lot of people make jokes about how the price of every day items is going up. Coffee, hand bags, dinners out of the house, video game systems, and trips to Disney are all subject to the “I need a mortgage to do this” joke. At FedHome Loan Centers, we thought it would be funny […]
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