Another area that we're starting to see lenders expand their offerings is programs for borrowers who have had a short-sale within the past 4 years. The interest rates on these loans however are usually in the high 6’s and even...
When lenders receive a loan application they actually begin the process of issuing two separate approvals, not just one. If either doesn’t meet the standards the loan won’t be approved. These two approvals involve the borrowers and the property....
It’s not common, but yes, there are scenarios that allow VA borrowers to have two or more VA loans active at the same time. The typical situation is when a VA homeowner has been reassigned to a new duty...
Sometimes you just need a little help. Sometimes achieving a goal or reaching a milestone just can’t quite be fully accomplished without the benevolent aid of others. It might sound odd at first but that same assistance is relatively common...
You’ve read here before about the sometimes confusing language lenders use on a daily basis. When financing a property you’ll encounter these terms and if your loan officer isn’t careful, will use them when communicating directly with you in...
For some reason, the FHA mortgage program struggles to get past many misconceptions about this program which helps millions buy and finance their first home. First introduced in 1934 to provide some semblance of stability in the untamed mortgage market,...
You’ve likely noticed the emergence of cable TV shows that feature buying “fixer uppers” over the past few years. There is also no shortage of real estate “gurus” that travel from city to city holding real estate investment seminars showing...
Many people are waiting to purchase a home, but need to save for a down-payment in order to get the home they want. Unfortunately, property prices are going up, so as you save money, the amount you keeping increasing....
Seller financing historically hasn’t been very common. When a property owner wants or needs to sell a home, the sellers typically want to get their proceeds at the settlement table rather than collect monthly payments from the buyers. However,...
If you ask an experienced real estate investor who owns multiple properties how they got started in real estate, don’t be surprised if the response is they first bought a duplex or a fourplex. The reasoning is that the...