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Stepping Stone Mortgage


A Mortgage is a document that contains the details of an agreement between two parties. One of which is a borrower and the other party is a lender. The Agreement will include information like, Loan amount, Time period of the loan, Interest and the collateral on the loan which is normally the property being bought. A mortgage broker is generally a person or company whose expertise lies in the field of mortgage laws, properties available for sale, and loan procedures. They provide these services to clients for a fee which is usually a percentage of the loan or property amount.
 
Stepping Stone Mortgage Company deals in mortgages. They offer Conforming Loan, VA loans, FHA loan, Stated Incomeand many more. Conforming Loan is a loan that conforms to the guidelines established by Fannie Mae or Freddie Mac. These guidelines establish the maximum loan amount, down payment, borrower credit & income requirements and suitable properties for anyone wanting to get a conforming loan.
 
An FHA loan is a mortgage loan insured by the Federal Housing Authority. The FHA is part of the U.S. Department of Housing and Urban Development. At one time, FHA loans had lower down payment requirements and were easier to qualify for than conventional loans. However, in recent years, Fannie Mae and Freddie Mac have introduced low down payment programs like the Community Home Buyer program, which rival FHA loans. However, the FHA loan is still a great loan as it has the ability to accommodate lower credit scores and down payment.
 
The U.S. Department of Veterans Affairs guarantees mortgage loans for veterans and service persons. The guarantee allows veterans to obtain home loans with favorable loan terms, usually without a down payment. Because of the guarantee, it is often easier for veterans or service persons to qualify for the VA loan than a Conventional loan.

Stated Incomeloan is typically used for the self-employed borrower. There are several lenders and investors who will allow the client to estimate their monthly income and will be qualified based upon that amount. Typically, the borrower needs to be self-employed for over two years and the estimated income needs to be reasonable for their profession.

Stepping Stone Mortgage Company is dedicated to fulfilling the needs of their clients and are qualified to do what it takes to ensure this happens.

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