Bella Mertz USDA loans can offer serious benefits for those who use them. With no down payment requirements, low interest rates and looser income requirements than many other loan products, they open the door to homeownership for many Americans who previously had no other options. Even better, utilizing a USDA loan on manufactured and modular housing is … Read more
The USDA loan program offers many benefits for eligible homebuyers in rural areas of Michigan With 100% financing and flexible credit requirements, USDA loans open the door to homeownership for borrowers who may not qualify for other mortgage programs. However, there are specific eligibility criteria and requirements to meet for a USDA loan in Michigan. … Read more
The VA loan represents one of the greatest financial benefits available to veterans. Most veterans purchase their first homes with one of these mortgages. However, certain situations exist where a conventional loan makes more sense for veteran borrowers. As such, we’ll use this article to explain how to refinance a VA loan to conventional. If … Read more
Looking for a car loan? Learn more about debt-to-income ratio and how it might affect getting a vehicle loan with this blog post from TDECU. When you start shopping for a new car, you may envision yourself driving a big, shiny, new vehicle loaded with all the latest features. Before you make a list of … Read more
While there’s a lot to like about FHA loans, they may not be right for everyone. Before you make a major financial commitment, it’s important to understand the pros and cons of FHA loans. Only then can you truly decide whether it’s right for you. Getting a mortgage for your first home can be an … Read more
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Bridge loan interest rates are typically higher than traditional 30-year mortgages from conventional lenders such as banks, credit unions and other traditional lenders. Bridge loans are only intended to be very short-term which is why the bridge loan rates are higher. Most conventional lenders do not offer short-term bridge loans as they are primarily focused … Read more
An FHA construction loan can help you realize your dream of creating your forever home from the ground up, even if you have less-than-perfect credit. As long as you can make a 10% down payment, you may qualify for an FHA construction loan with a credit score as low as 500. Here’s what you need … Read more
Department of Veterans Affairs (VA) home loans are mortgages specifically designed for veterans and active-duty military personnel. These government-backed loans have stricter requirements to make sure homes meet habitability standards. Since VA loans have different requirements than other mortgages, itâs common to have questions about the VA appraisal and inspection processes. Letâs take a look … Read more
Private mortgage insurance (PMI) is an extra cost that many homebuyers face when they cannot make a 20% down payment on their home loan This additional monthly fee protects the lender in case the borrower defaults early in the loan term With home prices rising, it’s increasingly common to take out a mortgage with less … Read more