Bella Mertz Buying a home is likely one of the biggest financial commitments you’ll ever make. With so much on the line, you want to make sure you have all the details squared away before signing on the dotted line. That’s where a Quicken Loans mortgage calculator comes in handy. I’ve used Quicken Loans’ free online mortgage … Read more
Some lenders let you take out home equity loans or HELOCs on second homes. Accessing this equity enables you to receive money that can be used to cover renovations, consolidate debt, or pay for other expenses. For homeowners with available equity tapping it through a home equity loan or line of credit may seem like … Read more
New to the homebuying process, many first-time homebuyers realize a single-family home is beyond their budget, or they dont have time to maintain a large property. While it may not be your first thought, financing a condo with a U.S. Department of Agriculture (USDA) loan may be a great alternative. These benefits appeal to first-time … Read more
It’s important to know the difference between loan processors vs underwriters to better understand the loan application process When it comes to applying for a home loan, there are many moving parts. Loan applications consist of multiple stages, which include gathering documents and assessing the prospective borrower’s information for approval. Two key roles in the … Read more
USDA loans make homeownership possible for thousands of low-income Americans in rural areas. These low-interest, zero-down mortgages arent as well-known as their FHA or VA loan counterparts, but they include many perks that can make them a great option for eligible borrowers. In many cases, homebuyers can use a USDA home loan to purchase a … Read more
As an FHA loan officer, one of the most common questions I get from buyers is whether the seller can pay for any of their closing costs. The answer is yes – FHA loans do allow for seller concessions within certain limits. In this comprehensive guide, we’ll cover how FHA seller concessions work, the benefits, … Read more
The USDA One Time Close loan program provides an invaluable opportunity for eligible borrowers in Georgia to purchase a home with just one closing. This streamlined process makes attaining homeownership more accessible by reducing costs and complications. In this article, we’ll explore what exactly USDA One Time Close loans are, who qualifies for them, and … Read more
Self-employed borrowers might be able to submit tax returns, bank statements, or other documentation as proof of income for a personal loan. Editorial disclosure: Please note that this article contains affiliate links. If you click through and purchase a product from one of our advertising or lending partners, we may earn a commission. The amount … Read more
You’ve found the perfect condo. It’s located in a great part of town, it offers convenient amenities, and it’s a great place for you to call home. But in the process of learning more about the property, you discover that the condo is non-warrantable. What does this mean for you and your potential new home? … Read more
Most preapprovals are good for 90 days, but some lenders issue 60-day and 30-day limits. Best practice is to get preapproved for a mortgage just before you begin serious house hunting. Experian, TransUnion and Equifax now offer all U.S. consumers free weekly credit reports through AnnualCreditReport.com. When a lender issues a mortgage preapproval letter, the … Read more