Richard's Real Estate Thoughts - Chattanooga, TN Mortgage Lender

Mortgage and Lending - Sierra Pacific Mortgage - Loan Officer, NMLS 184479
Mortgages, Mortgage, Home loans, home finance, home refinance, home purchase, credit, credit scoring, credit repair, conventional, FHA, VA, Rural Development, investment, First Time Home Buyer, investment, FHA 203k, renovation loans, Chattanooga, Knoxville, Cleveland, Nashville, Memphis, North Georgia, Hamilton, Bradley, Sequatchie, Catoosa, Walker, Davidson, Tennessee, Georgia, Ooltewah, Soddy Daisy, Signal Mountain, MLO NMLS 184479, TN Lic 40161, Georgia Mortgage Licensee
VA home loans offer 100% mortgages for eligible veterans. This includes mortgages for purchases and for cashout refinances. Even for new home construction. VA One Time Close mortgage allows for veterans to finance the construction of a new home with 100% financing.The VA construction permanent lo...
Here are some reminders for home buyers, about things to do and not to do which can impact your home mortgage closing. Buying a home is best when it is a planned life event. A couple months before beginning the home search and mortgage preapproval process, looking at your credit and assets is rec...
USDA Rural Development is an excellent home mortgage program for eligible buyers and homes. The program allows no down payment, 100% LTV mortgage. While there is mortgage insurance, the monthly premiums are less that the premiums for FHA and have actually been lowered effective 11/1/2016. See my ...
Home buyers can become confused with the different mortgage loan options. Most often buyers find that there is one best option for their circumstances and meeting with an experienced mortgage loan officer early in the process can help clarify the best mortgage type. This should be done before sub...
VA loans have an income requirement in addition to the more common debt to income ratio, DTI. VA’s Residual Income can affect a veteran’s loan approval, especially at the lower income levels.VA Residual Income is based on family size and region and loan size: Table of Residual Incomes by RegionFo...
Manufacture homes are eligible for financing with FHA, VA, and conventional loans. For many buyers looking for maximum square footage at a lower price, manufacture homes can be an attractive option.The most important additional step for financing a manufactured home is the requirement for an engi...
Reviewing the proper documentation can be more important to a reliable home mortgage loan prequalification than looking at credit. Most people have some idea of their credit and credit requirements. Critical questions which should be addressed early involve employment and address history, income ...
HUD foreclosures can provide great home opportunities both for low down payment purchase and for future home equity. The properties are foreclosed homes which sold As Is, meaning the property condition may not good.There are different classes for the $100 down program, generally based on the prop...
FHA new construction is a great program for borrowers who want to build their own home and do not have a large down payment. The FHA new construction program allows for a down payment as little as 3.5% of the lesser of the construction cost or appraisal value.The buyer can use their own land equi...
Conventional 97% purchase programs can be attractive alternatives to the 96.5% LTV FHA purchase loan. There are distinctions between the features of these two mortgage programs that a home buyer should consider when considering a mortgage for a home purchase.Interest Rate:Typically FHA will have ...

Richard Smith

FHA VA Rural Development in TN GA
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