Most people choose to get a mortgage when buying a home. Over time, though, the interest expense with the mortgage causes homeowners to consider paying their home loan off early to save money. So … [Read more...]
Buy or Refinance a Home, Roll Renovation Costs into an FHA 203(k) Home Loan
An FHA 203(k) home loan is backed by the U.S. Federal Housing Administration that allows a borrower to take out a loan for two purposes; home improvements and home purchases, if the home will be the … [Read more...]
Freddie Mac’s HomeOne Mortgage: 3% Down, Fewer Restrictions
Finding the right mortgage product can be difficult, especially if you’re a first-time buyer. In fact, it’s easy to become disillusioned with the idea of buying a property, or thinking you’ll never be … [Read more...]
Buydown Mortgages May Become More Popular as Interest Rates Rise
According to a CNBC report published on January 7th, 2019, buydown mortgages may begin to increase as mortgage interest rates in the U.S. go up. Although it’s been an uncommon buying strategy over the … [Read more...]
Seven Major Types of Mortgages You Should Understand
Mortgage programs regularly change; however, the major types of mortgages generally remain the same. So, here is a review of the major types of mortgages all homebuyers and homeowners should … [Read more...]
Sweat Equity Mortgage: Pay Mortgage Down Payment and Closing Costs with Sweat Equity
In the United States, many homes are aging out of usefulness, providing opportunities for homebuyers to purchase them at a low price and invest their sweat equity to remodel the home. To help these … [Read more...]
203(K) and HomeStyle Renovation Mortgages: Buy and Renovate a Home with One Mortgage
Many homebuyers like to purchase a fixer-upper and rehab it themselves, resulting in getting a lower price for the home and immediately building equity. Fortunately, there are multiple options for a … [Read more...]
Conforming Home Loan Limits Increased in 2019
Every year, the Federal Housing Finance Agency (FHFA) adjusts the limits for conforming home loans to account for the change in home values. At the end of 2018, the FHFA announced new loan limits for … [Read more...]
Florida Mortgages are Safer, But Tougher to Come By
Florida mortgages have proven to be safer and more transparent, according to Florida Trend. Today, lenders are more concerned about borrowers making the payment for the full term of the loan. As a … [Read more...]
Florida Ranks 3rd Highest for Mortgage Application Fraud Risk
Why is it important to select a highly reputable mortgage broker in Florida? According to CoreLogics’s 2018 Mortgage Fraud Report, Florida ranks 3rd in the U.S. for risk of mortgage application … [Read more...]
