Here is a listing of important mortgage threads that were posted on AOC. They are broken into seperate categories to help you out in navigating FHA Loans FHA loans are a great product for those borrower's that are looking for a low or no down loan and are within their county's FHA loan limit guidelines. Many borrowers are strayed away from an FHA loan simply because loan officers either don't know about the product or view it as a "hard" loan. FHA can be a pwerful tool and with the right lender and the correct steps it can empower you as a borrower. Here is some information about FHA that might help you out when deciding which type of loan to go with........ VA Home Loans VA loans are a wonderful benefit that is given to the people that serve our country in times of war and peace. Several Veterans are aware of the loan and yet are talked out of it by their mortgage professional. In speaking with my peers I have learned that several of them avoid VA like a disease because it can seem complicated and is much more work then a standard loan. The benefits for the Veteran are enormous and it is a right that has been earned. Here is some information for you on the VA loan and how it can benefit you and your family............. The Mother of Mortgage Calculators IF YOU ARE A HOMEOWNER OR ABOUT TO BECOME ONE AND HAVE SIGNIFICANT NON-MORTGAGE DEBT, YOU MAY WANT TO KNOW... and this calculator shows it all. Broken down into several particulars and the best I have seen............... State Bond Programs and State Housing Authorities Here is a complete list of every state's Housing Agency. The importance of the individual housing agency is in their ability to offer State Bond programs that offer below market rates for certain individuals. Do not be surprised if your loan officer, mortgage broker, or even banker does not know about these programs and agencies.. ... Freddie Mac Programs Here is a comprehensive list of Freddie Mac® mortgage products that may be available to you. Chances are, your loan officer has access to these programs and doesn't even know it. Take the initiative and read up on these programs and see if there is one that will take you from a sub prime loan to a Freddie Mac® conforming product that can mean more money in your pocket each month and improved financial stability....... Fannie Mae Programs Here is a comprehensive list of Fannie Mae® mortgage products that may be available to you. Chances are, your loan officer has access to these programs and doesn't even know it....... Take the initiative and read up on these programs and see if there is one that will take you from a sub prime loan to a Fannie Mae® conforming product that can mean more money in your pocket each month and improved financial stability........ Construction Loans Construction Loans are a somewhat difficult loan if not done right. There are all kinds of flavors out there and it would be counter productive to go through them all. The most popular kind of construction loan is the construction/perm loan. I will list some basic information and guidelines to help you (hopefully) understand the construction loan a little better.... Home Equity Line Of Credit (HELOC) 101 HELOC's are great tools if done right. With a HELOC you will normally get a line of credit similar to a credit card (you will receive a "check book") where you borrow money against you home. HELOC's will range in rate but are normally based off of the Prime Rate at any given time. Yes, this means that it does adjust and while the prime rate currently stands at 4%, as recently as January 2001 the prime rate was sitting at 9.5%. You will have a rate of "prime plus 1%" or "prime plus 3%" which means that you will add the prime rate to whatever addition that you are told...........
