Candice Mayberry is a dynamic professional who recently obtained her Mortgage Loan Originator (MLO) license, adding to her extensive experience as a licensed Realtor and Associate Broker at Keller Williams Atlanta Partners in the Atlanta Metro Region. With a proven track record of over seven years in the real estate industry, Candice has consistently achieved a remarkable 100% on-time closing record, a testament to her commitment to providing seamless transactions and exceptional value to her clients. Holding a Project Management Professional (PMP) certification since 2018, she possesses excellent communication skills, technical expertise, and problem-solving abilities, ensuring the delivery of professional, quality-focused results.
Start exploring your options with a free quote from one of our experts.
Down payment assistance comes in the form of grants, loans and other programs. It’s typically reserved for first-time home buyers only. They can be run by a variety of organizations, such as your local or state housing authority, or by a nonprofit. Eligibility is determined by your household income and credit history, varying by state and program. An application is typically needed, and sometimes you’re also required to attend training or home buyer education on the mortgage process and maintaining finances.
An asset depletion mortgage is a mortgage that bases a borrower’s eligibility on the value of their eligible assets instead of their employment income. Lenders add up the value of all of a borrower’s qualifying assets and divide it by a number of months, commonly 240 or 360, to get a hypothetical cash annuity stream.
If you are a citizen from another nation, you can still have the opportunity to get a mortgage loan to buy a property in the United States. A mortgage loan to a non-resident person in the U.S.A. is called a Foreign National Mortgage loan. A foreign national who is not a resident of the United States will in many cases seek to own real estate. Financing real estate is generally done by US mortgage companies and banks to United States citizens. The property can become a second or vacation home while staying in America. It could also be an investment property.
Construction loans are usually taken out by builders or a homebuyer custom-building their own home. They are short-term loans, usually for a period of only one year. After construction of the house is complete, the borrower can either refinance the construction loan into a permanent mortgage or obtain a new loan to pay off the construction loan (sometimes called the “end loan”)
This loan product allows cash flow on a property to be used to qualify for a mortgage loan. No tax returns or employment information is required. This innovative program can help property investors build a portfolio of income generating properties.