Buying your first home is likely to be one of the most exciting times in your life. However, the financial commitment it takes to invest in a home can be nerve-racking. Fortunately, many lenders offer first time home buyers a variety of home loans designed to make the home buying process simple and affordable. Remember, […]
Should I Take Out a Loan for Home Improvements?
Home improvements offer far more than just aesthetic value. They can also make a space feel more comfortable, safe, and energy efficient. Certain home improvements can also have a positive impact on your home’s value, allowing you to up your property cost when you go to sell. While there is no denying the benefits of […]
What is an FHA Section 203(k) Loan?
Not all homes are move-in ready. If you are willing to put in the work on a new home, it is possible to transform a fixer-upper into your dream home. An FHA Section 203(k) is a loan insured by the Federal Housing Administration (FHA) that offers financing for the repair and rehabilitation of single family […]
What Does A Mortgage Broker Do?
Buying a home is a big decision. It is also one of the biggest investments you will likely ever make in your life. As so, it is important to choose a mortgage loan that will mesh well with your current budget and needs. Of course, you will want to shop around to find a mortgage […]
I Have a Bad Credit Score, Can I Still Get a Mortgage?
Is a bad credit score standing in the way of your dreams to purchase a home? If so, you are one of 98 million Americans who have poor or bad credit. Getting a mortgage with bad credit is no easy task, especially if you do not have cash or assets to back you up. While […]
How Much Mortgage Can I Qualify For?
One of the biggest concerns that aspiring homeowners have is how much they can realistically afford. You never want to get so in over your head that you are unable to make your monthly minimum payment. However, there are many aspects of a home loan that must be taken into consideration when estimating your mortgage. […]
What is a Down Payment Assistance Loan?
One of the biggest hurdles of the home buying process is coming up with the funds for the down payment. Many lenders still want a down payment of at least 20 percent, which can be difficult for low- to middle-income homebuyers. While you may be able to put down less than 20 percent with a […]
What Are the FHA Loan Requirements?
Without 20 percent to put down or an excellent credit score, it can be tough to get a conventional mortgage. Fortunately, less-than-perfect borrowers have the opportunity to become homeowners with FHA mortgages. An FHA loan is a type of home loan insured by the FHA, or Federal Housing Administration. FHA mortgages are often the easiest […]
What Are Jumbo Loans?
Buying a high-priced or luxury home requires a large investment. Oftentimes, these extravagant homes exceed conforming loan limits set by the Federal Housing Finance Agency (FHFA). When interested home buyers are unable to secure a conventional mortgage loan for their pricey property, they turn to a mortgage broker for a jumbo loan. Jumbo loans are […]