Tag Archives: Mortgage Loan

Employers Can Now Contribute to Workers’ Down Payments

A new program allows employers to help workers’ down payment on a home, similar to how companies contribute to a 401(k). HomeFundMe, a Fannie Mae and Freddie Mac-approved down payment crowdfunding platform, allows borrowers to crowdfund their down payment from several sources, including their employer. CMG Financial, a mortgage banking firm, created the HomeFundMe program. Employers can […]

How to Improve Your Credit Score

So you’re considering buying a home and you’ve got it all planned out: a four-bedroom home in the top local school district and your favorite neighborhood including a manicured lawn, a finished basement with a theater room and—why not?—an outdoor kitchen. Slow down… one of the first steps in buying a home is to clean up your credit score, also called a […]

Loan Estimate and Closing Disclosure

A Loan Estimate (LE)  is a form that lists basic information about the terms of a mortgage loan for which you’ve applied. The idea behind the Loan Estimate (like the Good Faith Estimate before it) is to get critical information about the loan into the hands of the borrower as early as possible so that you as […]