Bella Mertz The FHA loan program makes homeownership attainable for many buyers by requiring just 3.5% down and having flexible credit requirements. But can you use multiple FHA loans to purchase investment properties or second homes? Let’s dive into the details on whether you can have more than one FHA mortgage at once. What is an FHA … Read more
Right now, home equity levels are high for many homeowners across the nation. According to a recent Black Knight report, the average mortgage holder currently has about $199,000 in usable equity available to them. There are numerous factors that have contributed to this — including a shortage in available home inventory and increased demand due … Read more
A Fixed Interest Rate will not change during its term, so the monthly payment on a loan with a fixed interest rate will remain the same for the life of the loan. A Variable Interest Rate will change during its term, based on market conditions, so the monthly payment on a loan with a variable … Read more
Can I Buy a Duplex with an FHA Loan? Buying your first home is an exciting milestone in life. And for some buyers purchasing a duplex or multifamily property may be a great option to achieve that dream. If you’re wondering if you can use an FHA loan to buy a duplex, the answer is … Read more
Purchasing land to build your dream home or start a new business venture in California can be an exciting endeavor. However, financing the purchase of vacant land requires a specialized type of loan – a land loan, also known as a lot loan As land lacks existing structures that can be used as collateral, land … Read more
Accessor dwelling units (ADUs), also known as granny flats or backyard cottages, are a hot trend in the world of housing. As housing costs continue to rise across the country, ADUs provide a flexible and affordable housing option for many homeowners Adding an ADU to your property can give aging parents or adult children a … Read more
Choosing between a USDA and VA loan can be a challenging decision. Depending on your specific circumstances and qualifications, one loan type may be more favorable than the other. USDA loans, offered by the United States Department of Agriculture, are ideal for low to moderate-income buyers looking to purchase in rural or suburban areas. On … Read more
Getting an FHA loan can help make homeownership more affordable thanks to low down payment requirements and flexible credit standards. However, FHA loans require you to pay mortgage insurance premiums (MIP) for the life of the loan, regardless of your down payment amount. This extra monthly cost can add up over time. Fortunately, there are … Read more
Taking out a second mortgage or home equity loan allows homeowners to tap into the equity they’ve built up in their homes. But while a home equity loan is a type of second mortgage not all second mortgages are home equity loans. Understanding the key differences can help you determine which option may be better … Read more
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