For many people, federal and state home loan assistance programs provide major benefits. These government loan programs allow first-time home buyers, veterans, military personnel, low-income buyers and people with credit history problems to realize their dream of owning a home faster and easier. Gershman Mortgage offers four types of government loan programs: FHA loans, VA loans, MHDC Mortgage Revenue Bond Program loans, and USDA Rural Housing Development Loans. Each of these programs are unique and cater to a unique type of home buyer, meaning there is a good chance that one of them could [...]
Understanding Mortgage Rate Fluctuations
Mortgage Rates | Gershman Mortgage
If you are considering an Adjustable Rate Mortgage (ARM) then understanding how mortgage rates fluctuate is likely to be one of your main concerns. Even if you are in the market for a fixed-rate mortgage, you may want to know how those fixed rates are set in the first place. While mortgage rates may appear mysterious and at times confusing, the truth is that they are determined according to very specific factors, such as the Federal Reserve, economic conditions, private lenders, and overall supply and demand. [...]
I am a full service Mortgage Lender located in O'Fallon, IL. Powered by Gershman Mortgage, we have established ourself as a leader in the St. Louis Metro East mortgage industry.
Combining the integrity and stability of the area's premier loan service with the wide variety of products and programs of an innovative Mortgage Broker, I have the experience and knowledge to help you find the right loan for your home!
Your One-Stop Home Mortgage Lender! I offer a complete line of Mortgage products, serving borrowers with excellent as well as Less-than-perfect credit. I will be right by your side [...]
Original written by: http://mymortgageinsider.com/conventional-97-ltv-program/
Home buying just got a lot easier. Fannie Mae and Freddie Mac, the country’s two main mortgage rule setting agencies, now allow home purchases with just a 3% down payment.
The new 97% loan-to-value (LTV) purchase program allows homebuyers to purchase a single family home, condo, co-op, or PUD without coming up with a full 5% down payment as previous guidelines mandated. The changes went into effect December 13, 2014.
Now that conventional 3% down loans are a reality, buyers have a real alternative to FHA. [...]
Original article from: http://www.marketwatch.com/story/new-mortgage-rules-help-millennial-home-buyers-2015-01-28
First-time home buyers, many of them millennials, will receive some long-awaited mortgage assistance this year thanks to recent moves in Washington.
The administration earlier this month cut the premium that borrowers with a Federal Housing Administration loan must pay for mortgage insurance to 0.85% from 1.35%. The half a percentage point reduction will reduce the cost of the average FHA loan by about $1,000 per year.
Meanwhile, Fannie Mae and Freddie Mac last month [...]
Original written by: https://www.redfin.com/blog/2014/06/going-from-renting-to-buying-a-home.html#.VhLLJBOb5sM
So you’ve decided it’s time to leave the world of renting and buy a home. If you’ve always rented, you’re in for quite a few changes as you look to buy. Here are five things to look out for as you start the process of buying a home.
Get Your Credit in Check
Before you start dreaming about white picket fences or painting the walls your favorite color, you need to make sure you have a credit score that will make the banks want to give you a mortgage. In general, the higher [...]
Pre-qualification is the term used to explain the short mathematical equation that determines how much of a loan you can afford. This may be performed by contacting me at (618) 410-4629. or applying on-line here. Pre-qualifying for a loan usually takes less than 10 minutes.
2. Apply For Your Loan
Applying for a home loan with Gershman Mortgage could not be easier. You may call to set up a convenient time to meet face-to-face with me, or if you prefer, have your loan application taken over the phone, which usually is completed in less than 15 minutes.
If you prefer to [...]
I will find the right mortgage for you.
I am a mobile mortgage lender and I service the communities of O'Fallon, IL, Fairview Heights, Collinsville, Caseyville, Granite City, Wood River, Belleville, Swansea, SAFB, Troy, Edwardsville, Glen Carbon and surrounding neighborhoods.
Gershman Mortgage is the oldest independent mortgage company in the St. Louis area and among the largest in the Midwest. Founded by Solon Gershman over 60 years ago, Gershman Mortgage is now one of the nation’s leading mortgage bankers.
The company is one of the only independent mortgage companies nationwide [...]