With the first day of spring just around the corner it is time to do a little bit more cleaning than just vacuuming and dusting. Follow these tips below to make sure your home and family are ready for a clean spring season! Clean your gutters Scrub walls, baseboards and outlets Replace filters Clean out...
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Author: Oswego Mortgage
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2018 Veterans Day Discounts
With Veterans Day coming up this weekend, there are several places that offer discounts to Veterans to show appreciation for their service. Here are some local places that are offering discounts: Goodwill – On November 11, Goodwill offers 50% off all donated apparel with military ID. Great Clips – On November 11, veterans and current military members can visit...
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2018 Memorial Day Weekend Discounts
This weekend we honor and remember those that have sacrificed their lives for the freedom of our country. To also thank active duty and veterans for their service, companies are giving incredible discounts. Don’t miss out on the Memorial Day sales that are near you! Jiffy Lube Most Jiffy Lube locations offer up to 15%...
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Am I able to include overtime and bonus pay when getting preapproved?
When we are calculating income we have to evaluate three major things: is the income stable and reliable? Is it anticipated to continue in the foreseeable future? And is it an sufficient amount? Generally such income cannot be seen as stable and reliable if it has been received for less than 2 years. That being...
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What is the difference between an FHA loan and a Conventional loan?
An FHA loan is a government insured loan where as a Conventional loan is not a government insured loan. The FHA loan is often easier to qualify for because it has a low down payment, being 3.5% of the purchase price. You are required to pay private mortgage insurance, so if you default on your...
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Can I use my VA loan to build a house?
The VA home loan is a great benefit to all veterans! The VA does allow new construction, but finding a lender to do it is the hard part. The reasoning behind that, is because the VA loan is 100% financing, most construction loans require a down payment and lenders will not do a construction loan...
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Can I use my VA home loan to purchase a rental property?
Some veterans are interested in using their VA home loan benefit to purchase a property to rent out to others. But, when the veteran borrower signs the papers for that property, they are required to certify that property as their primary residence. Don’t worry though, there is the option where a veteran can purchase a...
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10 things to do to get your home winter ready
With the cold weather coming, it is now time to think about getting your home cozy before the snow and ice hits. Here are 10 things to do to get your home prepared for winter: Get your chimney cleaned and inspected so it is safe to use all winter long and to help cut down...
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What is Earnest Money?
We get this question frequently from first time home buyers, what is earnest money? Earnest money is an important part of the home buying process. It is a money deposit that shows the sellers you are a committed buyer to the sale. Usually you put a deposit down of 1%-5% of the home purchase price,...
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Can I include the closing costs into my VA home loan?
If you are using your VA home loan for a purchase transaction you cannot include the closing costs into the loan. Your options are, the seller is allowed to pay all of the closing costs, up to 4% of the home price. If that is not the case then the veteran has to pay all...