All about Non-QM loans When applying for a mortgage, you will either apply for a “QM” or a “Non-QM” loan. Non-QM loans are for borrowers ready to buy a home but may not qualify by traditional standards. A qualified mortgage (QM) is a mortgage that meets specific requirements for lender protection and secondary market …
Watch out for these things after getting pre-approved for a mortgage
A pre-approval is the first step in the homebuying journey for most people who need financing to purchase a new home. A pre-approval involves a mortgage lender reviewing your income, assets, credit, and debt to determine whether you qualify for a mortgage and how much you can receive. Getting a pre-approval letter …
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Turn your dream home into a reality with a renovation loan
Finding the perfect home in today's real estate market can be challenging. Housing inventory is low, and when a desirable property hits the market, it is often sold almost immediately and over the asking price. A renovation loan could be the solution you are looking for to create the home of your dreams in the Methuen …
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Saving money with a VA loan
Buying a home in the Methuen area can be a complicated and expensive process, especially if you're a first-time home buyer or a Veteran. Fortunately, if you are a Veteran or a surviving spouse of a Veteran, you might be eligible for a VA loan. With a VA loan, you can purchase the home of your dreams with zero down …
City of Lawrence – First-time homebuyer DPA program
Up to $40,000 in Down Payment Assistance The First-time Homebuyers Program is designed to assist low to moderate income families who are purchasing a residential, owner-occupied property located in the City of Lawrence. Eligible borrowers can use the funds for down payment and closing costs. PROGRAM DETAILS: …
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4 great reasons to buy a home this year
Mortgage interest rates shouldn’t stop you from buying a home this year People decide to buy a new home based on a variety of factors. In most cases, life events dictate the need to enter the housing market. Some common reasons include job relocation, an expanding family, a desire to move from an urban to a suburban …
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