Many mortgage myths are floating around, partly because mortgages can be complex and confusing. There are many different types of mortgages available to different borrowers around the U.S., depending … [Read more...]
Top Things to Avoid Before Applying for a Mortgage
If you plan to buy a home in the upcoming months, there are some things you should avoid that could negatively impact your FICO score. This is important because a lower FICO score could result in … [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 and 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
Purchasing real estate can be one of the largest financial decisions one makes. Knowing the options and different types of mortgage loans can help a home buyer feel confident about purchasing. There … [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 a lower home price and immediate building equity. Fortunately, there are multiple options for a renovation … [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...]
