Bella Mertz When it comes to financing a home purchase, the terms “mortgage” and “home loan” are frequently used interchangeably. But do they actually mean the same thing? While closely related, there are some key differences between mortgages and home loans that homebuyers should understand. What is a Mortgage? A mortgage is a loan that is used … Read more
Getting a home loan often requires providing proof of stable employment and income to lenders. An employment verification letter also known as a proof of employment letter is an essential part of the home loan application process. This letter confirms your employment status and income level. I know first-hand how daunting and confusing getting a … Read more
As an HOA board member, I often get asked if our HOA can get a loan. This is an important question that all HOAs should understand. After doing extensive research, I wanted to provide a comprehensive guide on HOA loans. What Is An HOA Loan? An HOA loan is when an HOA borrows money, usually … Read more
Buying a home is an exciting milestone in life. But it also involves a lot of paperwork, especially when it comes to getting approved for a mortgage loan One of the most important documents you’ll receive from your lender is the loan commitment letter. This letter outlines the terms of the mortgage loan you’ve been … Read more
*Estimated payments above do not include amounts for taxes and insurance payments. Your payments may be greater. APR equals Annual Percentage Rate and assumes a purchase price of $200,000 with a 25% down payment and zero (0) points. Your rate and APR may be higher, all loans priced individually. Rates are subject to change at … Read more
Buying or building a new manufactured home is an exciting prospect. A manufactured home can provide an affordable way to own a quality home customized to your needs and preferences. However, financing the purchase and setup can be a challenge. A construction loan for a manufactured home makes the process smooth and convenient. What is … Read more
Often, the most challenging part of buying a home is coming up with a down payment. Whether your lender is allowing 3% down or youre hoping to hit 20% to reduce your monthly payments and avoid mortgage insurance, saving up all that cash isnt easy for most people. With the national average home price currently … Read more
One of the most common questions veterans have is whether they can still get a VA home loan after foreclosure. The answer is often yes, but the size of the loan will be affected by the previous foreclosure and what your remaining entitlement benefits are. Its much better for the service member, and the VA, … Read more
When getting a mortgage, one of the biggest decisions is whether to go with a fixed or adjustable interest rate Adjustable-rate mortgages (ARMs) have fallen out of favor since the housing crash more than a decade ago But today’s ARMs are not the risky products they once were. For certain buyers or situations, an ARM … Read more
The FHA loan program allows buyers to purchase a home with just a 3.5% down payment. This makes homeownership more accessible for those who can’t afford a large down payment. But can you get another FHA loan if you already have one? The short answer is yes, you can get multiple FHA loans throughout your … Read more