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

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Mortgage and Lending
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
RECENT BLOG POSTS
  Home purchasing should be an exciting time, whether you are first time home buyers, investors, or buying a second or third home.  Understanding the home buying process can help to make your next home purchase exciting and fun.   This post is a continuation of an earlier one, Understanding the H...
12/22/2014
  Home buying does not need to be stressful, even for first time home buyers. Understanding the steps needed to move from home purchase contract to home purchase closing is key to reducing the stress.  For all buyers the loan preapproval is the first step, even for those buyers who are confident ...
12/19/2014
      For many home buyers finding the perfect home can at times seem too difficult. Using a conventional or FHA renovation loan can make that search easier. The Fannie Mae HomeStyle® Renovation loan or the FHA 203k renovation loan can help with that solution of finding the perfect home.   The co...
12/18/2014
  HUD foreclosures can provide an excellent opportunity for many home buyers to purchase a great home at a great price.  Perhaps the top reason that HUD homes are so attractive for home buyers is that FHA offers excellent financing terms that are available only for HUD foreclosure properties.   F...
12/17/2014
  Many new home buyers have questions about what is included in a mortgage payment and how the taxes and insurance escrow works.  Setting up the mortgage tax and insurance escrows is one of the three main parts of the total funds a home buyer needs for closing their home purchase: down payment, c...
12/15/2014
  First time home buyers can now take advantage of low, 3%, down payment requirements for home purchases using conventional financing.  The program will compete with FHA loans.   Generally the conventional loan will be attractive compared to FHA for higher credit score buyers, primarily because F...
12/12/2014
FHA announced that the Property Flipping Waiver will not be extended. This is unfortunate because the ability to turn around a foreclosed property that has been materially improved is important to restoring many neighborhoods.   This announcement reflects a prejudice against investors and become ...
12/11/2014
  Many veterans, myself included, do not take enough advantage of their VA benefits. One of the best VA benefits of course is the VA home loan. It may be the best loan option available.   No down payment. Excellent rates. Seller can contribute buyer closing costs. Seller can contribute up to 4% o...
12/10/2014
 Buyers generally understand the importance of documenting their income and the impact of their credit and credit scores.  Many buyers frequently do not understand the importance of documenting the source of funds for their purchase.    All home purchase  loan programs (FHA, USDA, VA, Conventiona...
12/08/2014
  The USDA Rural Development program has several new features, effective 12/1/2014. Most of the changes are good news for home buyers and sellers.  The USDA Rural Development program has always had many features that make is an excellent home purchase loan alternative for many buyers.  These feat...
12/05/2014
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Richard Smith

FHA VA Rural Development in TN GA
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