Bella Mertz Building your dream home from the ground up can be an exciting yet daunting process. Securing financing for new home construction is a major step, and being aware of the requirements is key to getting approved. In this comprehensive guide, I’ll walk you through the ins and outs of home construction loan requirements so you … Read more
Yes, you can get an FHA loan for a second home if your purchase is because of an âundue hardship,â such as getting a job thatâs over 100 miles from your current house or outgrowing your current house. The FHA loan program is popular for financing primary residences especially among first-time homebuyers. But when it … Read more
Buying a home is an exciting milestone in life. However, coming up with a large down payment can be challenging for many potential homebuyers in Michigan. This is where FHA loans can help. FHA stands for Federal Housing Administration. An FHA loan is a government-insured mortgage that requires a low minimum down payment of just … Read more
A 20 year fixed loan is a popular mortgage option for many homebuyers This type of loan has a fixed interest rate and a 20 year repayment term 20 year fixed loans offer a nice balance between affordability and fast paydown compared to other loan terms. In this complete guide, we’ll cover everything you need … Read more
Buying land to build your dream home on can be an exciting prospect However, land loans work differently than regular mortgages, so it’s important to find the right lender In this comprehensive guide, we’ll walk you through everything you need to know to find the best place to get a loan for land. What is … Read more
With a few exceptions, the answer is no Part of the Series Federal Housing Administration (FHA) Loans Understanding FHA Loans Low down payments and low credit score requirements make Federal Housing Administration (FHA) loans an attractive option for homebuyers who might not qualify for a traditional mortgage. While this may be good news for some … Read more
Purchasing land and building a home from the ground up can be an exciting and rewarding experience. However, it also comes with complexities that standard homebuying does not. Securing financing for construction projects requires extra planning and preparation compared to getting a traditional mortgage. This is where using a USDA construction loan calculator can help. … Read more
If you are looking to buy a home in Michigan but you don’t have much money saved for a down payment, a loan backed by the Federal Housing Administration (FHA) could be your best shot. Homebuyers can qualify for FHA loans with down payments as low as 3.5%, and you don’t need good credit to … Read more
Assuming a VA mortgage can be an excellent way for homebuyers to purchase a home with a low interest rate. With mortgage rates on the rise, assuming an existing VA loan with a lower rate can lead to significant savings. In this complete guide, we’ll break down exactly how VA loan assumptions work who is … Read more
If you live in a condominium, townhouse, or planned community, chances are you pay homeowners association (HOA) fees each month. This money goes towards maintaining and improving common areas and amenities But what happens when your HOA needs a large influx of cash for a major project or repair? Taking out a loan through the … Read more