Bella Mertz If you’re approved for an FHA loan — which is a mortgage insured by the Federal Housing Administration (FHA) — you’re required to pay for FHA mortgage insurance. The insurance protects FHA-approved lenders against losses if you default on your mortgage payments. FHA mortgage insurance is more expensive than private mortgage insurance (PMI) on a … Read more
In addition to insuring physical objects, like a house or car, it’s also possible to insure financial products, like a loan. Personal loan insurance can provide peace of mind — and protect your credit — if something happens, and you’re suddenly unable to fulfill the requirements of your loan agreement. Taking out a loan can … Read more
Did you know that 120 out of Georgia’s 159 counties are rural? This gives plenty of opportunities for people looking to buy a new home in Georgia to apply for a USDA loan. Georgia USDA loans are backed by the US Department of Agriculture and are aimed at giving rural areas a boost with favorable … Read more
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Assumable VA loans are an intriguing option for both buyers and sellers in today’s housing market With mortgage rates rising, VA loan assumptions provide a way for buyers to take over an existing low rate mortgage and save significantly on their monthly payments. For sellers, they offer a chance to market their home as having … Read more
A personal loan can impact your mortgage application and approval. Like any debt that appears on your credit reports, how you manage a personal loan will impact how lenders view the debt and your creditworthiness. Personal loans can have an effect on your mortgage application, and it can be good or bad, depending on the … Read more
Being unemployed and not having a full-time job can hurt your chances of getting approved for a mortgage. That’s because two major deciding factors for lenders when reviewing a mortgage application are your income and job history. Unfortunately, not everyone has those. Some individuals don’t have full-time jobs because they work for themselves as freelancers … Read more
When buying houses, veterans typically use the VA home loan. However, depending on their unique circumstances, the FHA loan can be another great option for veterans. As such, we’ll use this article to cover the benefits of FHA loans for veterans. As a veteran, you have worked hard serving our country Now that you are … Read more
VA loans are generally one of the most affordable options for Veterans who are looking to buy a home or refinance their mortgage. VA mortgage benefits include no down payment requirement, no mortgage insurance, competitive interest rates, relaxed credit conditions and more. No matter how affordable your loan is though, buying a home is still … Read more
There are a variety of apartment mortgage products that can be used for the finance or refinance of multifamily properties throughout the US. Some of these products require previous experience while others are perfectly suitable for first-time investors. The type of loan available to any given borrower will be dependent on several underwriting factors, which … Read more