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Mortgage Information - Foreclosures
Obtaining a mortgage for a HUD or VA home is not
much different than obtaining a mortgage for a traditional property for
sale. However, it is easy to confuse a HUD or VA home with a HUD or VA
loan.
A HUD or VA home is a home
that has been
foreclosed on by the government for failure to pay on the mortgage, and
is then being offered for sale to the general public.
HUD/VA loans are special loan
programs backed by the federal
government. In the case of HUD, it is the Department of Housing
and Urban Development that administers the loan program. In the
case of VA, it is the Department of Veterans Affairs.
While it is entirely possible that you may qualify for a HUD or VA loan
on a
HUD or VA home, most homebuyers opt for a traditional mortgage on
these types of properties, unless they happen to fit the very specific
qualifications
for a HUD/VA loan. Ameriquest Mortgage offers good deals on loans, and has a quick initial
application form. Read more below.
Mortgages - Apply now
With interest rates the way they are right now, many
homebuyers are
looking favorably on adjustible rate mortgages, or ARMs. ARMs are
often available in the popular 1/3/5/7/10 - year
offerings. If you're an investor who already owns your own home,
you also might want to consider borrwing against the equity in your
primary residence to fund the purchase of your investment.
Ameriquest Mortgage is one of America's leading direct lenders with more than
250 offices from coast to coast. They have a no-obligation form with
only a few required fields to fill out, and you will be contacted
directly by one of their helpful loan officers, usually within 24
hours. It's a quick way to find out what you can qualify for.
Note that they do not lend in Washington D.C., Virginia, or West
Virginia.
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