What Credit Score is Needed for a First Time Home Buyer Loan this Year? If you have your sights on buying a home this year, credit scores are probably on your mind. After all, the higher your credit score, the lower your rate, and the better chance you will be approved for the loan. What… Read More »
Understanding Refinance Mortgage Tax Deductions in 2022 Most people who buy a home or refinance an existing mortgage pay closing costs. So, you may wonder if you can tax deduct some of your closing costs on a refinance mortgage in 2022. The good news is you can deduct some of these costs on your taxes… Read More »
Can I Get a Home Equity Loan on a 2nd Home, Vacation House or Rental Property? Home prices seem to be leveling off with one major house price indicator at S&P finding prices up 19% from January 2021. This is a blistering pace, especially when you consider this growth was on top of an 11%… Read More »
Home buyers and homeowners have been waiting patiently for the FHA 40-year mortgage loan to be introduced to the financing market. During the COVID-19 pandemic, millions of people lost their jobs or had hours cut when the federal government encouraged lockdowns to reduce the spread of the virus. When that happened, many homeowners fell behind… Read More »
Have you been investing in Bitcoin, Ethereum, and other cryptocurrencies? Then you probably wonder if you can use crypto to purchase a home or to get a crypto mortgage. The answer is complicated, depending on what you mean by ‘using crypto’ to buy a home. Let’s take a closer look. Traditional Mortgage Lenders And Crypto… Read More »
In June 2021, the Biden Administration announced it had created the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) to develop actions to reduce ethnic and racial bias in home valuations. The White House reports that the PAVE Action Plan is a wide-ranging set of reforms that will improve equity in the home… Read More »
How to Get a Home Equity Loan Are you thinking about getting a home equity loan? Wondering what they are all about? A home equity loan is a second mortgage that gives you a portion of your equity as a single, lump-sum payment that you can use however you like. Home equity loans and HELOC… Read More »
One of the hardest things to gauge as a homeowner is when is the ideal time to refinance your home mortgage. If anyone could precisely predict when mortgage rates will rise and fall, they could probably retire very wealthy. But even seasoned real estate and stock experts cannot predict the variability of mortgage rates. It’s… Read More »
If you’re flush with equity in your home after rising home values in recent times, you aren’t alone. It’s estimated in some circles that homeowners have trillions of dollars of new equity in their homes in 2022. With homes continuing to soar in value and some states seeing a housing shortage, it’s understandable that many… Read More »
Are you self-employed and want to buy a home? Then you may wonder about how to get a mortgage. While some self-employed borrowers can get a regular mortgage that is based on wages, others may not qualify. If that describes you, then you might want to learn about bank statement mortgage loans in 2022. Now… Read More »
Interest rates are still low in 2022, and this isn’t only a benefit for your primary residence. If you own a second home or investment property, it is a good time to find out if you can refinance your mortgage and save money. There are many similarities between refinancing your primary residence and second home,… Read More »
Millions of Americans rent instead of own, so it is often a good move to buy a rental property. If you manage it well, it’s possible to earn passive cash flow every month without doing too much. If you decide that you want to buy a rental property in the US, below are the essential… Read More »
What Are the NEW 2022 FHA Loan Limits? Home prices have soared in 2021, and loan limits are trying to keep up. FHA 2022 conforming loan limits are almost as high as jumbo loans, and this could be the policy for the foreseeable future. After all, home prices don’t seem to be anywhere close to… Read More »
People who want to fix and flip houses for a profit are moving into an exciting business, but you have to know what you’re doing to have success. Most people need to work with private and hard money lenders to get the money they need for a fix and flip loan. This is because most… Read More »
Have you done well with the equity in your home in the last year or two? You may be thinking about buying a second home so you can live in a different city, state, or even country. It’s estimated there were about 7.5 million second homes in the US as of 2016, or about 6%… Read More »
Are you thinking about moving to a new city when you retire? You are in good company! About 65% of retirees say they want to move when they stop working or already moved. Most retirees say they want to stay near where they retired when they move, but about 40% say they want to live… Read More »
The rapid rise of home prices during the COVID-19 era is fueling what could be the biggest increase in the Fannie Mae and Freddie Mac conforming loan limit since 1970. An increase in the conforming loan limit allows home buyers wanting Fannie or Freddie-backed loans to avoid jumbo loans that are harder to get and… Read More »
Did You Know Fannie Mae Offers a Second Home Mortgage Program with Easy Requirements If Your Parents Reside in the Home? If you are thinking about buying a home with your parents or other family member, you should know you aren’t alone. Buying a home with a family member besides your spouse can be a… Read More »
Are you interested in commercial real estate? Good! Investing in multi-family residences can be an outstanding investment that can provide you with steady cash flow for many years. Most of us don’t have the cash to buy a commercial property outright, so there are various commercial loans available that can get the deal done. Below… Read More »
During the COVID pandemic, millions of renters have had difficulty paying their rent. That’s why the federal government passed an eviction moratorium that made it difficult for landlords to toss out their tenants. The eviction moratorium was extended several times by the Trump and Biden administrations. On August 3, the CDC extended the eviction moratorium… Read More »
If you are interested in a vacation property or second home, you may wonder about financing fractional home ownership. Before you move forward, it’s important to understand what fractional homeownership is and how financing works. Fractional Ownership Overview Fractional ownership usually deals with owning a vacation property where several owners use it based on units… Read More »
It’s no secret that swimming pool loans have become popular with homeowners across the country looking to maximize good living and property values. Many homeowners are unaware of the many secure and unsecure financing opportunities available today in the United States. How to Get the Best Swimming Pool Loans Many people love to have a… Read More »
Do you have an older family member living in your home? You may want to have them move into another building on your property, which is known as an accessory dwelling unit or ADU. Some simply call it a mother-in-law unit. Building a second dwelling on your property can be a fine way to add… Read More »
If you own your home, you probably have noticed that real estate prices have climbed significantly in the last year. For some homeowners, they may be enjoying 25% or more of home price increases since the pandemic started. If that has happened in your area, you may be thinking about pulling equity out of your… Read More »
If you’re a military veteran or active-duty military, and you want to buy a home. You may be looking into a VA mortgage loan and wonder if it’s a good choice for you. For many active military and retired military, VA loans can be the way to go. Let’s take a closer look at these… Read More »
Your home is not just your castle. It can be a cash source for home renovations, repairs, college tuition, or an emergency fund. The equity you have built up can be tapped through a mortgage refinance or a home equity loan. What’s the difference and which is better for you? These refinance and home equity… Read More »
Refinancing your house means you are getting a new home loan, so it can take some time. In many situations, refinancing a home takes 30 to 45 days. But the exact time to sit down at the closing table depends on many factors, and some of them you do not control. You might be able… Read More »
Over the past decade, Florida has expanded by more than 2.6 million people, the second-highest numerical population increase in the country, behind only Texas. So it shouldn’t come as a surprise that the state’s housing market is also expanding and values are rising. The coronavirus pandemic has put a damper on housing markets across the… Read More »
While Alabama isn’t among the biggest U.S. states, it is one of the states in its region that’s added the highest number of residents over the past decade. In fact, Alabama ranks in the middle among all Southern states when it comes to population increase since 2010. The state’s population growth has a knock-on effect… Read More »
Nevada is one of the fastest-growing U.S. states, both according to the total number of new residents since 2010 and the percentage growth rate resulting from the hundreds of thousands of new Nevadans. All that growth has made the Nevada housing market one of the most exciting in the country. Like the rest of the… Read More »
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