We get many customers at First Residential Mortgage who want to apply for an FHA loan. This type of mortgage is relatively easy to qualify for; it was designed to be so. But what do you need to do in order to be found eligible? Here is a quick rundown to help you prepare to apply. 1. Make sure … [Read more...]
Myths About Credit Scores and Buying a Home
When applying for a mortgage, a high credit score is likely to qualify you for the best home loan offers. As such, it is perfectly natural to be focused on your credit score as you shop for a home. But you could have incorrect assumptions about credit scores and mortgages. Here are a few common … [Read more...]
PMI: Worth It or Not?
If you are not able to put a large down payment on a home, you may be required to purchase private mortgage insurance (PMI). This may force you to make some difficult financial decisions. Should you pay for the PMI? Or should you look for a way to avoid it? Will it be largely beneficial or harmful? … [Read more...]