What is a second mortgage?
A second mortgage is a mortgage taken out after you already have a mortgage. The term "second" indicates the position this mortgage falls on the deed to the house.
What is the family opportunity mortgage?
The Family Opportunity Mortgage is a unique program designed to help families secure housing for elderly parents or disabled adult children. This mortgage option offers significant financial advantages and flexibility.
Can mortgage insurance ever be removed on an FHA mortgage?
For FHA mortgages orginated after June 2013, mortgage insurance stays on the mortgage for the life of the mortgage. Except if you put 10%+ down payment when you orginated the mortgage, then mortgage insurance drops off after year 11.
Do I need to be at the same job for two years to qualify for a mortgage?
Mortgage lenders require a look back at your employment over the past two years. It is acceptable to have switched jobs over those two years, have a small gap in employment, or even be in school over the past 24 months.
Is it Possible to Be Approved for a Mortgage without a W2?
Yes, the lack of W2 income does not equate a dead end for the mortgage application process. Applying for a home mortgage without W2 income might require more documentation