PMI is a type of insurance that may be required for conventional mortgage loan borrowers when they buy a home and make a down payment of less than 20% of the home’s purchase price, PMI may become a part of your mortgage payment. It protects your lender if you stop making payments on your loan. […]
If you’re familiar with the mortgage lending process, you’ve probably heard about Fannie Mae and Freddie Mac. Both Fannie Mae and Freddie Mac are home mortgage companies created by the U.S. Congress. Both federally backed institutions provide liquidity, stability and affordability to the mortgage market by offering ready access to funds and guarantees to thousands […]
Can You Refinance After Bankruptcy? Do you have a bankruptcy on your record? If so, you might think it’ll be impossible for you to refinance your home. While it’s true that bankruptcy affects your mortgage, refinancing isn’t totally out of the question. Can You Refinance Your Mortgage After Bankruptcy? The good news is that yes, […]
Buying A House In 2023: A Step-By-Step How-THow To Buy A House In 13 Steps Most home sales involve the following 13 steps.Let’s take a closer look at what each of these steps involves and what you’ll do along the way. Step 1: Decide Whether You’re Ready To Buy A Home Buying a house is […]
Purchase-money mortgages can give people with less-than-perfect credit the chance to buy a home. While it may seem like a great idea to become a homeowner no matter what it takes, this process comes with some downsides that you should know about. Let’s analyse the journey of buying a home through a purchase-money mortgage and […]
One of the most utilised benefits given to America’s eligible active-duty and returning service members is the VA loan. With attractive rates and the ability to buy a home or refinance all of your equity with no money down, it’s easy to see why. Still, there are certain requirements put in place by lenders. […]
Homeownership marks the start of a new chapter in your life. However, before you can move into the home of your dreams, you’ll need to decide which type of mortgage will work best for your financial goals. One of your options is an adjustable-rate mortgage. But what is an adjustable-rate mortgage? Let’s explore this type […]
What Are Government Loans? Government loans are insured or backed by the U.S. federal government. There are many types of government home loans as well as government loans for college education, disaster relief, opening a business and supporting veterans. Government-backed mortgages help all types of home buyers purchase their dream home. How Does A […]
VA Loans: Rates, Eligibility Requirements And More What Is A VA Loan? A VA loan is a type of government loan, backed by the U.S. Department of Veterans Affairs (VA). The VA offers specific guarantees to private lenders that handle VA loans. Because of these guarantees, lenders offer loans that typically feature no down payment […]
USDA Loans: What They Are And Their Eligibility Requirements You probably associate the United States Department of Agriculture, or USDA, with things like the food pyramid, food safety and plant inspections. But did you know the USDA is also involved in rural development? The USDA believes that helping families in rural areas become homeowners creates […]