Congress approved an extension of the PPP loan program until May 31, 2021, including “second draw” PPP loans for businesses that received PPP funding in 2020. Will I get my second draw PPP loan Womply? So make sure you have signed your First Draw promissory note and your bank detailsRead More →
The underwriting process usually takes at least a few weeks. If your loan needs to be manually underwritten, it will typically take a bit longer due to the extra work required. According to the latest data from ICE Mortgage Technology, it takes about 61 days for a VA loan toRead More →
If you default on federal student loans, you’re not automatically out all those benefits forever. You might be able to reclaim some of those benefits by correcting the default via loan rehabilitation or loan consolidation. If you don’t take action to repair your default, though, you could experience other consequences.Read More →
Consequences of Default The entire unpaid balance of your loan and any interest you owe becomes immediately due (this is called “acceleration”). You can no longer receive deferment or forbearance, and you lose eligibility for other benefits, such as the ability to choose a repayment plan. Do defaulted student loansRead More →
FICO® score at least 580 = 3.5% down payment. FICO® score between 500 and 579 = 10% down payment. MIP (Mortgage Insurance Premium ) is required. Debt-to-Income Ratio < 43%. The home must be the borrower’s primary residence. Borrower must have steady income and proof of employment. Will FHA loanRead More →