Are you aware of how USDA financing can help you? Do you even know how the program works? Following are the most common answers to questions about USDA loans to help you get started. What is a USDA Loan? The USDA loan is funding provided by a lender but insured by the government to purchase a home in a rural area. They are one of the least expensive programs on the market as they allow for no down payment and have flexible guidelines that allow for fewer interest rate adjustments. This … [Read more...]
What’s the Minimum Credit Score for an FHA Streamline Refinance?
The FHA Streamline Refinance is the perfect program for borrowers that want to refinance strictly to get a lower interest rate. This program allows you to refinance from an FHA loan into another one with very little work, hence the name “streamline.” Just how much work is involved and how do you qualify? Let’s take a look. The minimum requirements for the FHA Streamline Refinance are much different than the qualifications for a standard FHA loan. Generally speaking, the FHA allows lenders to … [Read more...]