Bella Mertz Saving up enough for a down payment is often one of the biggest hurdles for first-time homebuyers. The idea that you need to put 20% down to buy a house has become ingrained in many people’s minds. But what if I told you that you may only need 5% down to purchase your dream home? … Read more
Facing foreclosure can be stressful and scary. If you have bad credit, it can seem even harder to get a loan to stop the foreclosure. While it’s not impossible, your options are limited and getting approved is an uphill battle. In this comprehensive guide we’ll cover What foreclosure is and how it happens The challenges … Read more
An appraisal is a property valuation conducted by a licensed appraiser and is required as part of the USDA approval process. To be approved for a USDA loan, a property cannot have an appraised value less than the selling price. USDA-approved appraisers will consider multiple factors to determine the market value of a property and … Read more
Tiny homes have become popular in recent years because they’re less expensive, easy to maintain, and more eco-friendly than traditional housing. However, securing financing to build a tiny home can be challenging, especially if you want to use a VA mortgage loan. Below, we’ve provided some useful information for veterans and military members about buying … Read more
As a mortgage loan officer here in Charlotte, I’m always on the lookout for top lenders to partner with. One company that has caught my attention recently is Quicken Loans. Although they’re headquartered in Detroit, Quicken Loans has been making major moves to expand their presence right here in Charlotte, NC. In this article I’ll … Read more
FHA Loan Limits 2023 California is $472,030 and goes up to $1,089,300 for high-cost counties for one-unit properties.FHA Loan Limit 2023 For California for 2-unit properties is $604,400 and goes up to $1,394,775 for high-cost counties. California has some of the highest home prices in the nation, which means FHA loan limits are critical for … Read more
If you have an FHA-insured mortgage, you’re likely familiar with the monthly mortgage insurance premiums (MIP) that come along with it. While mortgage insurance provides important protection for lenders and makes FHA loans more accessible, paying the premiums for the life of the loan can get expensive. The good news is that you may have … Read more
Short sales can be a good option for buyers looking to purchase a home at a lower price. Sellers of these homes are highly motivated and are often willing to cut a deal to sell the property quickly. While it is possible to buy a short-sale home with a VA loan, certain requirements must be … Read more
Reviewed Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors opinions or evaluations. When you need to get a mortgage, there are so many options that it might feel overwhelming. Your choice can have a big impact on how much time you spend shopping for a … Read more
Veterans nationwide can take advantage of the benefits offered through a Department of Veterans Affairs (VA) loan. In most cases, VA loans save home buyers money over the length of their loan. Service members enjoy benefits like avoiding a down payment, refinancing the entire value of a home or easier eligibility requirements for a mortgage. … Read more