Explore our blog for insights on buying, financing, remodeling, and taking care of your home.
If apartment living is getting old, or you've outgrown your parents' basement and house rules, you may be thinking about buying your own place. For this reason, you may be interested in learning about home loans that offer low and no-down payment options and have flexible lending requirements. One of these is the FHA loan. Let's take a closer look.
You've found a home in a neighborhood where you've always wanted to live. And you can snatch it up at a good price. So what's stopping you? Could it be the outdated appliances, dark brown exterior, and wall-to-wall carpeting? It might not be your dream home just yet, but with an FHA 203(k) renovation loan, it could be. With this loan you can purchase the property and get the extra funds you need to remodel, repair, and renovate. It's unique because you can borrow the funds you'll need based on what your house is expected to be worth after the renovation is complete.
Buying a house can leave you feeling overwhelmed and under-informed. Not only are you spending every waking hour searching for your perfect home, you also have to think about how you're going to pay for it. And when choosing a mortgage, it's important to find one that works with your budget now, and also 15- to 30-years down the road as well. Because the world of home financing can be a confusing one, let's take a look at two of the most popular loans in the housing market: Conventional and FHA.
If you’re a person on the go and hate mowing grass and raking leaves, maintenance-free condo living might be for you. And if you’re buying a condo with an FHA or VA loan program because of their attractive low-down payment and flexible credit qualifications, you need to be aware that the condo you are considering must be in an approved development.
A home buyer called me the other day to ask a great question about buying a foreclosed home and taking care of some of the work on it. Have you seen these vacant houses? Some of them need a lot of love. This house in particular had a driveway issue that was affecting the foundation of the house. Of course I immediately thought of the Full FHA 203k. This home improvement loan must be used when the work involves the structure of the house. The caller asked if the 203k would pay for a new driveway. Since I didn't have the answer at the top of my mind, I leaned on our expert.
There’s talk in the news and throughout the housing market industry that lending giant Wells Fargo is lowering credit scores it requires for prospective home buyers financing with FHA loans. While this may seem – on the surface at least - like great news for Americans looking to buy a home … we approach this move with cautious optimism.