Bella Mertz Having a 640 credit score puts you in the fair credit range, which means you may have a harder time qualifying for loans compared to borrowers with good or excellent credit. However, you can still get approved for a personal loan with a 640 FICO score if you know where to look. In this comprehensive … Read more
Hard money equity loans are a great financing option for real estate investors looking to fund fix-and-flip projects or other types of real estate investments In this comprehensive guide, we’ll explain everything you need to know about hard money equity loans, including how they work, their pros and cons, and how to find the best … Read more
Reviewed Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors opinions or evaluations. Writing a hardship letter to one or more of your creditors can help you get through a tough financial time. With an understanding of your circumstances and evidence to support your claims, lenders … Read more
When you sell real estate with owner financing, the most important ongoing task you need to oversee is getting paid. Make no mistake, when you sell a property with seller financing, you are forming a long-term relationship with that borrower, and any good relationship takes effort to manage (some more than others). If you want … Read more
A bank statement loan is a type of mortgage that allows borrowers to qualify using recent bank statements rather than tax returns. This loan is ideal for self-employed people or those with non-traditional income sources. If you don’t have steady paychecks or have income that varies month-to-month, a bank statement loan could help you buy … Read more
The short answer to the question “Can I use my land as equity for a construction loan” is yes. If you own your land outright (no mortgage or liens) you can likely use your equity in the land toward the purchase of a new home. In this scenario, you could use your equity in the … Read more
Buying your first home is an exciting milestone but it can also feel overwhelming especially when trying to navigate the various mortgage options and loan calculations. If you’re looking to purchase property in a rural or suburban area, a little-known program called the Rural Development Loan may be a great fit. Through the U.S. Department … Read more
Amortization tables are important tools for understanding how loans work They show the breakdown of payments between interest and principal over the life of a loan For interest only loans, the amortization tables look a bit different than for conventional loans. In this article, we’ll take an in-depth look at amortization tables for interest only … Read more
Moving away from the city life’s hustle and bustle to build a custom home on acreage is a dream many share. Buy land, build a house, live happily ever after. While the concept is simple, the process can be daunting. We’d like to give you an overview of what it takes to make this dream … 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. The Federal Housing Administration’s mortgage insurance program has helped millions … Read more