USDA Rural House Loans Other than the VA Home Loan, the Rural Housing Loan backed by the USDA is one of the best programs in the nation. While VA loans are a great benefit for our Veterans, the Rural Housing program is not far behind. With more competitive interest rates, no money down and low mortgage insurance, the Rural … Read more
VA Loans Serving our nation comes with some exclusive benefits that are sometimes overlooked. Using a VA loan backed by U.S. Department of Veterans Affairs (VA) for your next home purchase is a benefit that all veterans of our Armed Forces should be utilizing. The intent of the VA home loan was to create affordable housing opportunities … Read more
Buying a House When You Have Student Loan Debt In the past, mortgage lenders were able to give people with student loans a bit of a break by disregarding the monthly payment from a student loan if that loan was to be deferred for at least one year after closing on the home purchase. But … Read more
What is Mortgage Amortization? The difference between your home’s value and how much you owe on your mortgage is your home equity. With each mortgage payment you make, mortgage amortization — or paying down the loan in installments — is at play, and each monthly payment brings you closer to owning your home outright. What … Read more
Home loans backed by government-sponsored enterprises Fannie Mae and Freddie Mac received another annual increase in their limits for 2023. The maximum conforming loan limit for one-unit properties has increased from $453,100 to $484,350 for most of the U.S., according to a Nov. 27 statement from the Federal Housing Finance Agency (FHFA). In higher-cost housing markets where … Read more
no income verification mortgage When you apply for a mortgage, it is the lender’s job to make sure you can afford it. However, this wasn’t always the case. Between 2003 and 2006, a substantial percentage of mortgages were made without documentation or with little documentation. Today, the story is quite different. So-called “no-doc” mortgages have … Read more
Hard Money Loans Hard money loans are a way to borrow money outside of traditional mortgage lenders. These loans can help homeowners renovate their property or buy a second home, and real estate investors may find them perfectly suited for fix-and-flip operations. However, hard money loans often have short payoff timetables and higher interest rates, … Read more
How To Leverage Home Equity: 5 Ways A home equity loan helps you turn your home into cash — without selling the property. The loan provides cash to help with renovations, a down payment on a second property or unforeseen expenses and can even help you consolidate credit card debt.”You can take a home equity … Read more
No Closing Cost Mortgage If you’re a savvy shopper, you’re probably always looking for ways to spend as little money as possible. But when it comes to paying closing costs for your new house, spending less may not be the best idea. Closing costs are the assortment of fees that a homebuyer pays when closing … Read more
First Time Home Buyer Government Programs In this piece, we’ll explain the ins and outs of all the major national financing programs for first-time homebuyers, including Federal Housing Administration (FHA), U.S. Department of Veterans Affairs (VA) and U.S. Department of Agriculture (USDA) loans, as well as the Energy Efficient Mortgage (EEM) Program and the Fannie … Read more
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