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It is very difficult to get any loan when you have a bad credit rating. Have you considered getting a housing grant instead? Just read on and finally get that house you have been wanting for years.

Aurora Lillo Editor of the “Free Scholarships And Grants” website — http://www.FreeScholarshipsAndGrants.org/free-government-grants-money — pointed out;

“…Before you get very excited, you must remember that you are not the only one applying for this grant so your application must be very well done. You need to know that there will be a lot of people who can write as good as you. to get ahead of everybody you need learn to research and know more about these housing grants…”

1.    Know that these are programs of the government by the Department of Housing and Urban Development commonly called as the HUD. Get the list of available housing grants from them.
2.    Know which type of housing grant you need (single family housing program, multi family housing, healthcare facilities etc.)
3.    Know what requirements are necessary for the grant applicable to you.
4.    Learn to write well. You need to know how to write proposals or you could search for people who could do it for you.
Remember the key to getting that grant is your proposal.

After knowing which information is it that you need. You are now ready to apply. Listed below are the steps you could follow in submitting your application

1.    Ask for you housing grant application kit from the HUD.
2.    Look into every nook and cranny of that application kit before you actually write anything in it.
3.    Make sure you will be able to answer every single part of that application. Do not leave anything blank)
4.    No erasures. Please make sure your application is neat and organized.
5.    Writing must be done well and must be succinct.
6.    Send the application to the right person and agency. HUD will tell you where you are to submit these requirements.
7.    If you are required to go the HUD for added requirements, make sure you go on the proper date and schedule and bring the necessary information and IDs they request of you.

“…Housing grants are very helpful especially when you can’t seem to have that house you have always wanted because of your bad credit record. Most Americans are just not that aware of these grants because the government does not have funds to actually promote their programs…” added A. Lillo.

Just remember to write well and be truthful with everything that you will write in your application. Go and get that grant. Go get your house.

Further information about trusted and reputable sources for government grants by visiting; http://www.FreeScholarshipsAndGrants.org/free-government-grants-money

First Time Home Buyer Programs

Hector Milla runs his corporate website at http://www.OpsRegs.com where you can see all his articles and press releases.

What to Expect From a Jumbo Mortgage Loan

May 20, 2010 Michael

What to Expect From a Jumbo Mortgage Loan

Jumbo mortgages are not so different from standard mortgages but there are a few key things that are worth looking in to.

Jumbo Mortgage Loans

A jumbo mortgage loan is a loan taken for property that is high-priced.. In Colorado, as in most of the U.S., a jumbo mortgage loan is any mortgage that exceeds 7,000 – the limit set by Fannie Mae and Freddie Mac for conforming loans.

Fannie Mae and Freddie Mac, the two agencies that buy the majority of real estate mortgages, will not finance loans greater than 7,000 in most states; however Alaska, Hawaii, and a couple others are exceptions. Therefore, the large jumbo mortgage loans are sold to other investments, often banks and insurance companies, and so a jumbo mortgage loan falls into a different category. Rates for a jumbo mortgage are also higher than conforming loans because there is more risk involved.

What This Means for Jumbo Mortgage Interest

The size of a jumbo mortgage loan means there is more to lose. The size, coupled with other factors, results in somewhat higher jumbo mortgage rates than those carried by conforming loans. Since percentage points on jumbo mortgage rages can mean sizable payment differences, buyers should shop around for a good lender when applying for a jumbo mortgage loan in order to find the best rate. Buyers should shop around for a good lender when applying for a jumbo mortgage loan in order to find the best rate.

In truth, jumbo mortgage interest rates are only one thing to consider when shopping for a jumbo mortgage. There are additional fees and closing costs to be considered that could even out the difference in jumbo mortgage rates. Sometimes, the company with the jumbo mortgage rates is actually the cheapest, all things considered.

Also, buyers shopping for good jumbo mortgage interest rates need to consider their goals, plans, and all of their options. Like conforming mortgages, jumbo mortgages are offered in a variety product lines. Buyers have the option of taking out loans with adjustable jumbo mortgage rates with 3 or 5 year locked rates that adjust after that period, or 15 or 30 year fixed jumbo mortgage rates that never change.

Deciding which type of product (variable or fixed jumbo mortgage interest rate) is better for you depends on whether you plan to stay in the home for more than that locked 3-5 year period, or whether you will refinance the loan within 3-5 years anyway.

Buyers should not be scared off from higher jumbo mortgage rates; jumbo mortgage rates are higher only by a quarter of a point or so for well qualified buyers. What’s more, jumbo mortgages are the only option for home buyers in many parts of the country because 7,000 really isn’t that high a price in today’s housing market. As a matter of fact, jumbo mortgage loans are the only type available in many areas. The best way to find a good jumbo mortgage loan is the find a reputable and experienced lender with good rates. A great mortgage lender will take the time to understand your needs so they can help you select an appropriate product.

First Time Home Buyer Programs

This article is written by J.B. of 1st American Mortgage and Loan, LLC, a Colorado mortgage company

who offers customers access to information on obtaining a mortgage loan in Denver, and other information about getting a home mortgage in Colorado through his website TrueMortgageQuote.com

Help for Home Purchasers