Before an owner can market a property to buyers that want to use a FHA loan, he will want to familiarize himself with the FHA’s standards. FHA won’t insure loans on just any property.
While their standards aren’t as stringent as they used to be, a home needs to be in relatively good condition to qualify for FHA financing.
READ MOREIf you have a mortgage, you’re probably looking for the best option to pay it off. So is a biweekly payment or monthly payment the better option for you? Which payment strategy best fits your individual circumstances? Here’s what you need to know.
READ MORETitle insurance protects the owner of a home from any claim made against their property, whether or not they are responsible. These include unpaid mortgage balances on the home, an improper foreclosure or any form of real estate fraud perpetrated by the seller.
READ MOREIf you’re concerned about what bad credit will mean for your mortgage and are weighing your options, here are some reasons why it might be important to use a co-signer for your application.
READ MORESo what exactly is a jumbo mortgage? How is it different from a standard mortgage, and what does that mean for your refinancing options? Here’s what you need to know.
READ MOREIf you have a good credit history and are prepared to invest in a home, you may be feeling pretty confident about the mortgage process. However, it’s important to be aware that there are things that can have a negative impact on your application.
READ MOREMost people tend to think of a mortgage loan as a necessary evil, an expense that has to be managed. But under the right circumstances, your mortgage can become a smart investment – something that makes you money instead of costing you money.
READ MOREIf you’re looking for a new home, you’ve probably heard lots of advice about down payments. About how it’s okay to just have a five percent down payment – you’ll still get approved. About how you should make the down payment as small as possible to avoid cash flow problems. Here are just four reasons why you should make the largest down payment possible.
READ MOREIf you’re like most homeowners, you probably believe that one missed mortgage payment won’t have a noticeable impact on your FICO score. People get behind now and then, and besides, you’ve been faithfully making payments on time for years. How bad could it be?
READ MOREIf you’re just jumping into the game of home purchasing, you are likely considering all of your loan options and may even have heard the term mortgage lock. For those who don’t like to gamble, a mortgage rate lock can offer a bit of reassurance, but there are also some downsides to this type of protection. Before signing off on this, here are the details on rate locks so you can make an informed decision.
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