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The AmeriFirst Home Buyer Learning Center

203k Loan vs Conventional Mortgage

Posted by Dan Moyle on Mon, Dec 3, 2012

Comparing one mortgage loan option to another is a bit like comparing apples to oranges. They're both fruit (or home loans) but they're still a bit different. If you're looking to compare the 203k loan vs conventional mortgage options, then you're likely already familiar with how the FHA 203k helps home buyers finance remodeling and renovations. So instead of answering the question "What is the FHA 203k?" we'll dive right into the difference between this home improvement loan and a more traditional route, a conventional mortgage.

Download the FHA 203k Survival Guide here and learn more.

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Topics: home improvement loans, mortgage loan options, FHA 203k, conventional mortgage

Conventional Mortgage: Got 20 Percent Down?

Posted by Dan Moyle on Thu, Aug 23, 2012

While you won't need a 20 percent down payment for every conventional mortgage, the 20 percent figure is pretty standard. Without it, you'll pay mortgage insurance for sure, and may have a higher interest rate as well. So the question remains: do you have 20 percent of the home price set aside in cash for a down payment?

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Topics: mortgage loan options, conventional mortgage

Conventional Mortgage vs FHA Loans

Posted by Dan Moyle on Tue, Jul 17, 2012

Buying a house can leave you feeling overwhelmed and under-informed. You have so many mortgage loan options in front of you, it's hard to know where to start. From the conventional mortgage to FHA loans...from zero-down loans to adjustable rate mortgages, it's a difficult task to cover all of them.

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Topics: mortgage loan options, FHA Loans, conventional mortgage

Advice to First Time Home Buyers from Queen of NYC Real Estate

Posted by Dan Moyle on Tue, Jun 28, 2011

Writing for Advice

Once upon a time people "wrote in" for advice. Ann Landers, Dear Abby...that sort of thing. Now people offer advice all over the place: blogs, news/commentary shows, etc. So it's no surprise that first time home buyers can find advice by simply turning on the TV. That's what we found this week. A woman known at the Queen of NYC Real Estate is offering advice for anyone considering buying their first house. It's actually pretty good advice, and her story is pretty interesting too!

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Topics: housing market trends, first time home buyer, conventional mortgage

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Down payment and terms shown are for informational purposes only and are not intended as an advertisement or commitment to lend.  Please contact us for an exact quote and for more information on fees and terms.  Not all borrowers will qualify.
AmeriFirst Home Mortgage is a division of AmeriFirst Financial Corporation. 950 Trade Centre Way Suite 400 Kalamazoo, MI 269.324.4240 Equal housing lender

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Download your Yearly Home Maintenance Checklist!

Taking care of a home takes work and organization. While we can't do the work for you, hopefully this checklist helps you stay organized. Download your printable version below!


Download the Home Maintenance Checklist