Thanks to recent changes, FHA loans with student debt are going to be more accessible to many borrowers.
The amount of debt you owe every month is vastly important to lenders. Obviously, they want to know how much you make every month. But…
Financing for condos can be hard to secure. These properties are inherently different; as such the financing is different too. In the past, FHA loans for condos were hard to come by, but with some basic changes, these loans are now more…
Anyone living in the United States, earning an income, and paying U.S. taxes, but not eligible for a Social Security number, should know about jumbo ITIN loans. This is a special mortgage program that allows individuals and families to purchase a home…
One of the biggest myths in the mortgage industry is the belief that you need a nearly-perfect credit score to use a jumbo loan. But as we’ll show, minimum-credit-score jumbo loans are available.
The Myth: You Need a High Credit Score…
Assumable loans are a fairly simple concept: the new owner of the property, instead of taking out a new mortgage, simply “assumes” responsibility for the existing mortgage. They get the same interest rate, repayment period, loan balance, and all other terms included…
If you can’t find the right home, sometimes you just have to make it. Fortunately, there are construction loans that make building your own house more affordable and more convenient!
General Construction Loan Requirements for 2021
Although the specifics may…
In late January of 2021, the FHA made a formal announcement that individuals classified under the “Deferred Action for Childhood Arrivals” are legally permitted to receive mortgages supported by the FHA . Previously, this national benefit was in question, but as long…
2021 is here, and so are the 2021 loan limits.
If you are considering a new house in the coming year, you should learn about upcoming loan limits so you can purchase the best possible home.
Of course,…
Mortgage lingo is often expressed in acronyms. You don’t need to know them all, but this article reviews the ones that are more common or important.
The real estate and mortgage industries love acronyms. “APR,” “LTV,” “HELOC,” and countless others…
Is an FHA 203(k) loan right for your purchase? This article looks at a few common situations where people use this helpful program.
Sometime you find a house that would be perfect for you and your family…it just needs a few repairs. …
Thinking of purchasing a home during the coronavirus crisis? There are certainly advantages, but this article outlines some of the downsides you will want to consider.
Earlier this month, we wrote an article about the advantages of buying a home during the COVID-19…