We are pleased to inform borrowers that recent changes to MIP for FHA loans and funding fees for some VA loans are making these government-backed mortgage products even more affordable. The FHA Announced Lower MIP For mortgages backed by the Federal Housing Administration (FHA), monthly mortgage insurance premiums (MIP) are decreasing by 30 bps. The […]
How Does Buying a Home Help You Build Wealth?
If you are looking for a way to grow your wealth over the long term, buying your own home can be a great step. In fact, buying a home of your own can actually help you build wealth in multiple ways. Let’s take a look at how this decision can change your financial life for […]
How To Qualify For a Loan as a Self-Employed Borrower
Qualifying for a home loan as a self-employed individual is getting easier and not a difficult as it used to be. Most loans for self-employed borrowers require the borrower to be self-employed for two years. Some loans also require the borrower to provide two years of tax returns to verify income but we have a […]
Answers to Frequently Asked Questions About Buying a Home While Self-Employed
Purchasing a home as a self-employed person does not have to be challenging or complicated. But if you have ever dealt with a big box lender, you might have come away from the experience thinking that it is. Blue Square Mortgage has helped many self-employed borrowers to successfully move into their dream homes with fast […]
Myths About Adjustable Rate Mortgages
One type of home loan you can consider is an adjustable rate mortgage, or “ARM.”This type of mortgage starts with a low introductory rate for the first several years. The most popular ARM’s have initial rates fixed for 5, 7 or 10 years. After that, the rate adjusts based on market conditions. This is different […]
What to Know About Income When Buying a Home as a Retiree
If you ever purchased a home while you were a working employee, you probably remember providing pay stubs and your W-2 form to verify your income.But if you are currently retired and thinking about purchasing a home, you may no longer have employer income. That does not mean lenders are not interested in your income […]
How Cash Out Refinancing Can Help Make Borrowing Affordable
While building wealth can require complex strategizing and attention to detail, many of the principles involved are quite simple. Among them is to try and minimize the interest you owe on your loans and lines of credit. Maybe you need to take out a loan to fund your business, or perhaps you need to borrow […]
How to Save Money on Homeowners Insurance
To take out a mortgage to purchase a home, you need to pay for homeowners insurance and shopping for a great price with great coverage is essential. You will find that some insurance companies offer more competitive policies and better coverage than others. Cheaper is not always better and making sure you are well insured […]
Shopping For Mortgage With Poor Credit
Are you shopping for a mortgage with poor credit? If so, finding the right company to work with is essential for saving money and staying safe. In this post, we go over some key considerations when you are evaluating poor credit mortgage companies. Evaluating Poor Credit Work with a broker, not a lender. To start […]
How Much Can You Afford?
When you are shopping for a home, you are going to need to be realistic about the costs of homeownership. You can complete the process more rapidly and look forward to financial stability and comfort over the years ahead if you narrow down your search to only homes you can truly afford. But how do […]
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