Bella Mertz Veterans and service members who want to purchase multiunit, also known as multifamily, properties often see it as an investment opportunity. For many people, the idea of having tenants help pay some or even all of the mortgage is very appealing. The VA home loan program provides many benefits to eligible veterans active duty service … Read more
When taking out a loan, borrowers should be aware that lenders often impose restrictions called debt covenants. These provisions are intended to reduce the lender’s risk and ensure the borrower can repay the debt. By understanding common debt covenants, you can avoid violations and complications when securing financing. What Are Debt Covenants? Debt covenants refer … Read more
If you’re looking to take on a major home renovation or new construction project you’ll likely need to get financing to cover the costs. Two popular options for funding these types of projects are home equity loans and construction loans. But which one is the better choice for your situation? This comprehensive guide examines the … Read more
I am happy to inform you that Doe International has approved your loan application for $33,000 with interest to be paid at a 9.8 Annual Percentage Rate. As indicated in earlier correspondence, we expect the loan to be paid in full within seven years. An amortization schedule is enclosed. Please call me sometime during the … Read more
While you may be able to buy your primary home with little or no money down, you’ll typically need to put down at least 15% if you want to purchase a rental property. And with the median cost of a house hovering around $399,000, that comes out to nearly $60,000. This hefty chunk of change … Read more
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Declaring bankruptcy can significantly impact your finances and make it more difficult to qualify for a new mortgage loan. However it is possible to get a mortgage after bankruptcy if you take the right steps to rebuild your credit. This article explains how bankruptcy affects mortgage loans when you can qualify again, and tips for … Read more
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If you already have a personal loan, can you get another one? The short answer is yes. There’s no limit to the number of personal loans you’re allowed to have. However, the amount of debt you can take on is limited to how much a lender is willing to let you borrow. Personal loans allow … Read more
Buying a home is expensive, especially in the weeks preceding and following closing. Homebuyers can be caught off guard by the money needed to cover down payment, closing costs, inspection fees, and home repairs. However, they may be able to alleviate some of these expenses by negotiating seller concessions with the home seller. If the … Read more