What you need to start
Updated Oct. 9, 2013
Your Initial Meeting with a Mortgage Professional at PFA. The loan approval process generally begins with an initial interview where you and a mortgage professional discuss the potential loan. You will need to send information to us to verify your income and long term debts.. You may prefer to talk with PFA before...

Qualifying for a Low Down Payment Loan
Updated Oct. 9, 2013
Qualifying for a Low Down Payment Loan. To be considered for a low down payment loan, you generally need to have:. Sufficient income to support the monthly mortgage payment Enough cash to cover the down payment Sufficient cash to cover normal closing costs and related expenses (explained below) A good credit...

Your Total Mortgage Payment
Updated Oct. 9, 2013
Your Total Mortgage Payment. Your monthly mortgage payment typically is made up of four components: principal, interest, taxes and insurance, together known as PITI. The principal refers to the part of the monthly payment that reduces the remaining balance of the mortgage. The interest is the fee charged for...

Choosing a Mortgage Company
Updated Oct. 9, 2013
Choosing a Mortgage Company. When you are ready to shop for a loan, you can work directly with a lender or with a mortgage broker representing many individual lenders. Direct lenders are lending their own money, have in house programs and make the final decision on your application. Mortgage brokers are...

Your Initial Meeting with a Mortgage Professional at AFG
Updated Oct. 9, 2013
The loan approval process generally begins with an initial interview where you and a mortgage professional discuss the potential loan. You will need to send information to us to verify your income and long term debts.. You may prefer to talk with AFG/PFA before house hunting to determine in advance how much you can...

How to Improve Your Credit
Updated Oct. 9, 2013
How to Improve Your Credit. If you have had credit problems, be prepared to discuss them honestly with a mortgage professional. Responsible mortgage professionals know there can be legitimate reasons for credit problems, such as unemployment, illness or other financial difficulties. If you had a problem...

Alternatives to Filing Bankruptcy
Updated Oct. 9, 2013
Alternatives to Filing Bankruptcy. There is just no easy way to get out of debt, you have to face up to the consequences. A bankruptcy is not always the answer, as the effects are long lasting. There are four ways to handle debts that are out of control, listed in best to worst in regards to the effect it will have on your...

What Are Closing Costs?
Updated Oct. 9, 2013
There may be closing costs customary or unique to a certain locality, but closing costs are usually made up of the following:. Attorney's or escrow fees (yours and your lender's if applicable)Property taxes (to cover tax period to date)Interest (paid from date of closing to 30 days before first...

HUD Reverse Mortgage Program
Updated Oct. 9, 2013
Homeowners 62 and older who have paid off their mortgages or have only small mortgage balances remaining are eligible to participate in HUD's reverse mortgage program. The program allows homeowners to borrow against the equity in their homes.. Homeowners can receive payments in a lump sum, on a monthly...

Qualifying for a Low Down Payment Loan
Updated Oct. 9, 2013
Qualifying for a Low Down Payment Loan. To be considered for a low down payment loan, you generally need to have:. Sufficient income to support the monthly mortgage payment Enough cash to cover the down payment Sufficient cash to cover normal closing costs and related expenses (explained below) A good credit...

Your Total Mortgage Payment
Updated Oct. 9, 2013
Your Total Mortgage Payment. Your monthly mortgage payment typically is made up of four components: principal, interest, taxes and insurance, together known as PITI. The principal refers to the part of the monthly payment that reduces the remaining balance of the mortgage. The interest is the fee charged for...

Choosing a Mortgage Company
Updated Oct. 9, 2013
Choosing a Mortgage Company. When you are ready to shop for a loan, you can work directly with a lender or with a mortgage broker representing many individual lenders. Direct lenders are lending their own money, have in house programs and make the final decision on your application. Mortgage brokers are...

What is a Reverse Mortgage?
Updated Oct. 9, 2013
Homeowners 62 and older who have paid off their mortgages or have only small mortgage balances remaining are eligible to participate in HUD's reverse mortgage program. The program allows homeowners to borrow against the equity in their homes.. Homeowners can receive payments in a lump sum, on a monthly...

What are Closing Cost?
Updated Oct. 9, 2013
There may be closing costs customary or unique to a certain locality, but closing costs are usually made up of the following:. oAttorney's or escrow fees (yours and your lender's if applicable)oProperty taxes (to cover tax period to date)oInterest (paid from date of closing to 30 days before first...

Alternatives to Filing Bankruptcy
Updated Oct. 9, 2013
Alternatives to Filing Bankruptcy. There is just no easy way to get out of debt, you have to face up to the consequences. A bankruptcy is not always the answer, as the effects are long lasting. There are four ways to handle debts that are out of control, listed in best to worst in regards to the effect it will have on your...

How to improve Your Credit
Updated Oct. 9, 2013
How to Improve Your Credit. If you have had credit problems, be prepared to discuss them honestly with a mortgage professional. Responsible mortgage professionals know there can be legitimate reasons for credit problems, such as unemployment, illness or other financial difficulties. If you had a problem...

What you need to start
Updated Oct. 9, 2013
Your Initial Meeting with a Mortgage Professional at AFG & PFG. The loan approval process generally begins with an initial interview where you and a mortgage professional discuss the potential loan. You will need to send information to us to verify your income and long term debts.. You may prefer to talk with...

What you need to start
Updated Oct. 9, 2013
Your Initial Meeting with a Mortgage Professional at AFG & PFG. The loan approval process generally begins with an initial interview where you and a mortgage professional discuss the potential loan. You will need to send information to us to verify your income and long term debts.. You may prefer to talk with...

What you need to start
Updated Oct. 9, 2013
Your Initial Meeting with a Mortgage Professional at AFG & PFG. The loan approval process generally begins with an initial interview where you and a mortgage professional discuss the potential loan. You will need to send information to us to verify your income and long term debts.. You may prefer to talk with...

What you need to start
Updated Oct. 9, 2013
Your Initial Meeting with a Mortgage Professional at AFG & PFG. The loan approval process generally begins with an initial interview where you and a mortgage professional discuss the potential loan. You will need to send information to us to verify your income and long term debts.. You may prefer to talk with...