What is Veterans Affairs or VA loan?
What is a Veterans Affairs loan (VA Loan)? A Veterans Affairs loan (VA Loan) is a type of home mortgage available through the program established by the United States Division of Veterans Affairs (VA) (formerly the Veterans Administration). The VA loans assist veterans, military personnel, and their surviving spouses in ...
What is the new home guarantee program?
What is the new home guarantee program? This program was announced in the 2021-21 Federal Budget Plan and is designed specifically for first-time homebuyers to purchase property with 5% deposits. The government has allocated 10,000 new residences through the First House Loan Deposit Scheme (FHLDS) to guarantee new homes. These ...
Can Students Get a Mortgage?
Can Students Get a Mortgage? It may be challenging to earn a mortgage at any stage of life. But can students get a mortgage, or does this status alone take the opportunity off the table? In fact, as a student, it would not be easy to receive approval for a ...
FICO score and credit score: What is a FICO score?
FICO score is the type of credit score created by Fair Isaac Corporation (FICO) in 1989. The terms "FICO score" and "credit score" are often used interchangeably, but other score brands exist. Credit card issuers and lenders use credit ratings to determine whether your loan application will be approved. Calculation ...
Home Appraisal: Everything You Need To Know About It
If you are bidding to purchase a home and the lender's home appraisal value is lower than your bid value—the lender will not approve the mortgage loan even if you are eligible. Therefore, you may need to provide additional cash to begin the home purchase process. How the Home Appraisal ...
How to Shop for a Mortgage? Find Out!
How to Shop for a Mortgage If you plan to purchase a house soon, shopping for a mortgage will help you determine your affordability and the expected monthly mortgage payments. It will also help you decide which home loans are suitable and whether you need to increase your credit score ...
