A Credit & Mortgage Blog for Consumers
Welcome to Arming Your Farming. We have been publishing real estate, mortgage and credit information since 2004. Our articles and tutorials are designed to help consumers make smarter decisions about credit, loans and mortgages. Brandon Cornett, our editor and lead writer, is a consumer advocate and creator of the Home Buying Institute. He has been writing about financial topics on various credit and mortgage blogs for nearly ten years. You'll find the most recent articles and tutorials below.
Recent Posts
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Can I get a mortgage with a credit score of 600? Or 620, 640, etc?
We receive a lot of questions from readers regarding credit scores and mortgage loans. While the numbers themselves may change, the question is generally the same: Can I qualify for...
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Difference Between Mortgage Commitment and Final Approval
Pre-approval, mortgage commitment, conditional approval, final approval. What does it all mean? This kind of terminology can be incredibly confusing for home buyers. But once you understand the basic underwriting process for home loans, the pieces start to fall into place.
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Disclosures You’ll Receive When Applying for an FHA ARM
The FHA loan information contained in this article explains the different types of disclosures you’ll receive from your lender, when applying for an adjustable mortgage. These loans are more complex than their fixed-rate counterparts, so they usually come with more disclosures.
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Interest Rate Caps for FHA Adjustable-Rate Mortgages (ARM)
If you are in the market for an FHA adjustable-rate mortgage, you need to understand the concept of interest rate caps. These caps limit the amount that the rate can rise from one adjustment to the next, and also over the entire life of the loan.
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FHA ARM Loans: General Rules and Guidelines for 2013
The FHA ARM loan is a popular financing option among home buyers. But there are some things you need to know, before choosing this option. This is the first in a series of lessons on government-insured adjustable mortgage loans. The information offered in this series will help you make smarter choices during the mortgage process.
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FHA Seller Concessions Can Help with Closing Costs: 2013 Update
This article provides information on FHA seller concessions. Currently, sellers are allowed to contribute up to 6% of the home’s value to help cover the buyer’s closing costs. HUD proposed a change to this rule in 2010 and 2012, but it never took effect.
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HUD Proposes 5% Down-Payment for FHA Loans Over $625,500: 2013 Update
Earlier this year, the Department of Housing and Urban Development proposed a change to the popular FHA mortgage-financing program. If the proposal becomes an actual rule, it would require a minimum down payment of 5% for FHA loans over $625,500.
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