You can get an apartment loan or multi-family financing that is either short term or permanent to fund the purchase or renovation of the building, with rates that typically range from 5% to 12%. Investors usually use the financing of apartment buildings to buy properties with more than five units to produce cash flow and… Read More »
Buying a piece of land allows you to build your dream home or to simply maintain a piece of nature. But land can be pricey in higher demand areas, so you cold need to find a vacant land loan to fund your purchase. You might think that a land loan will be easy and low… Read More »
The cost to refinance your mortgage can vary due to many factors, such as the lender, loan amount, credit score and interest rate. Homeowners who shop around and try different lenders may be able to lower their mortgage refinance closing costs and fees. The closing costs of your refinance will usually include appraisal fees, credit… Read More »
With home prices soaring and people having more equity in their homes, it is not surprising that they want to refinance. Whether they want to pay off debt or do home renovations, a refinance into a lower rate and taking out cash can be a good way to do many things that cost a lot… Read More »
Most Americans need to get a mortgage to buy a home; current statistics state that 87% of home buyers use mortgage financing. But it is rare in 2018 to be able to buy a home for 100% of the purchase price. In most instances banks and lenders want the borrower to have skin in the… Read More »
If you are like millions of Americans after the last financial downturn, you may have had to file for bankruptcy. Whether you could not keep up with your mortgage or had financial problems with your business, having a bankruptcy on your credit report can complicate getting a mortgage loan. But it is not impossible by… Read More »
Let’s say you put down 3.5% down on a FHA loan and pay mortgage insurance monthly as well and want to know how much mortgage interest you can deduct under the new laws. For decades, one of the advantages of home ownership was the ability to deduct mortgage interest from your tax return. While home… Read More »
If you are like most Americans who own a home, you probably have a mortgage. As the years go by, you may wonder if it is worth it to pay off your mortgage ahead of schedule. This may be a possibility for some homeowners who come into a lot of money through an inheritance or… Read More »
Many people dream of buying their first home, but they discover during the process how expensive it can be. And it is not just about the price of the home and the down payment. Mortgage closing costs and lending fees can add up to two to five percent of the total purchase price. Then on… Read More »
People who have never bought a home before might think that once they have been pre-qualified for a mortgage, they may be good to go. Not the case. There is a difference between mortgage pre-qualification and mortgage pre-approval. There is a right way and wrong way to apply for a first time home buyer loan… Read More »
Do you already have a VA loan? If you do, then you know what a great benefit you get with a VA refinance loan. But are you aware that now may be the perfect time for you to refinance your VA loan? One of the most popular refinance programs in the country is the VA… Read More »
Most people wanting to buy a home with a mortgage usually have two major concerns: How much will the interest rate be, and can I afford the monthly payments? There are many good online mortgage calculators that can assist you in making these important financial calculations when you are deciding to buy a home. There… Read More »
Most home buyers will choose either a conventional loan or an FHA insured mortgage in 2018. If you have decent credit in the mid-600’s or higher, you may be considering either an FHA or conventional loan. Both programs have loans available with 3% to 3.5% down payments, so which is the best option? It depends… Read More »
Are you in the market for a home loan in the new year? Whether you are buying your first home or refinancing your existing one, you can improve your odds of being pre-approved for a home loan this year if you follow our helpful tips below. #1 Make Sure You Know Your Credit Score As… Read More »
One of the causes of the mortgage meltdown of a decade ago was the overuse of non-traditional mortgages, which are referred to as non-QM loans. Essentially, a non-QM loan is one that does not meet standards set by the federal government after regulatory reforms that were passed in 2009 and 2010. Below is more information… Read More »
It is not unusual for retirees wanting to move after they stop working and buy a home. They think that once they actually stop working they will be unable to get a mortgage. This is not always true. If you meet the home loan requirements, you can get a mortgage when you retire. There are… Read More »
Are you considering a refinance of your mortgage? Interest rates are very low in 2018 but could rise soon, so now may be the time to apply for a refinance mortgage. If you are considering a home refinance, you will want to save as much money as you can to make the process worth it.… Read More »
Home buyers purchasing a home with a conventional loan want to know that the down payment requirements are for a Fannie Mae loan in 2019. Below is more information about what the minimum down-payment rules will be for most borrowers qualifying for a Fannie Mae home loan this year. A conventional home loan is not… Read More »
The HARP refinance program was going to expire on September 30th. The Federal Housing Finance Agency announced recently that it would extend the Home Affordable Refinance Program or HARP 3.0 through the end of last year. This is good news for people who are struggling with their mortgage and who owe more on their home… Read More »
Economic activity in the US is definitely on the rise. For all of 2018, it is likely that the US will have grown at a 4% rate or higher, which has not been seen for more than a decade. This means it is likely that home sales will grow in 2018. If you are one… Read More »
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