Do You Pay PMI on a USDA Loan?

Homebuyers who cant put down a sizable down payment with a conventional loan will often need to pay for PMI, or private mortgage insurance. This insurance is designed to protect the lender in the event you default on your loan. For conventional loans, you’ll typically need to pay for PMI unless you can put down … Read more

Do VA Loans Require Inspections? A Complete Guide

If you are looking to learn about VA loan inspection requirements, you won’t find any. Truth be told, the VA loan system does not require home inspections before deciding whether you are eligible or not. They do, however, require appraisals, but that is a different kettle of fish. We will explain that later. What’s important … Read more

Can I Rent Out My House With An FHA Loan?

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

How to Change a Name on Your Mortgage Loan

Changing the name on your mortgage loan can be a complicated process, but it may be necessary if you get divorced, want to add or remove a spouse or family member, or simply wish to update your name Here’s what you need to know about changing a name on a mortgage loan When You Might … Read more

How to Assume an FHA Loan – A Complete Guide

Whether youre a first-time homebuyer, moving to a new home, or want to refinance your existing conventional or FHA mortgage, the FHA loan program will let you purchase a home with a low down payment and flexible guidelines.580 Credit Score- and only -3.5% Down RELATED ARTICLES FHA loan limits were established to define how much … Read more