MORTGAGE & LENDER NEWS Category
FHA Loans For Your Dream Homes. If you’re planning to buy a home in Tahoe yet worried about not having a stellar credit background, an FHA loan might just be for you. This loan makes it possible for people who have credit scores as low as 500 to still buy the home they want! To understand it more, an FHA loan is a mortgage issued by federally qualified lenders and insured by the Federal Housing Administration (FHA). FHA is not a lender. It’s an...Continue Reading!
What is TRID? On October 3rd of this year, a new rule went into effect for the Mortgage Industry called "TRID" or the "TILA-RESPA Integrated Disclosure Rule." TRID was designed toward making mortgages more transparent and easier to understand for borrowers or buyers. This new rule has made a huge impact on not only the specific timelines that borrowers and Loan Officer's have to meet, but also the disclosures that are required and the actual loan process prior to closing escrow....Continue Reading!