Bella Mertz Tiny homes have become popular in recent years because they’re less expensive, easy to maintain, and more eco-friendly than traditional housing. However, securing financing to build a tiny home can be challenging, especially if you want to use a VA mortgage loan. Below, we’ve provided some useful information for veterans and military members about buying … Read more
Getting an FHA loan to finance your home purchase can be an exciting yet stressful process. As a first-time homebuyer you likely have a lot of questions about the timeline – how long does it take to get approved? When will I get the keys? This comprehensive guide breaks down the typical FHA loan timeline … Read more
The FHA one-time close loan, also known as the FHA construction-to-permanent loan, allows homebuyers to finance the construction of a new home and take out a mortgage in just one loan closing. This convenient loan product combines the construction loan and permanent mortgage into a single lending solution. If you’re looking to build your dream … Read more
A land loan can provide financing to buy land for new home construction and other purposes. Learn more about how this type of loan works. Many homeowners want to build their own homes on their own plots of land. Since a traditional home mortgage assumes that the home already exists, building a new home requires … Read more
Mortgages have a grace period (typically 15 days) during which you can make your mortgage payment without incurring a late penalty. Grace periods can help you avoid late fees that often range from 3% to 6% of your monthly mortgage payment amount. Mortgages have a grace period—a specific time after your due date when you … Read more
Navigating home loans and property appraisals can be tricky, especially for military homebuyers. That said, property appraisals are important in determining the value of the home and influencing various other homebuying factors ranging from interest rates to eligibility criteria. The process can seem overwhelming but we’ll help you understand the intricacies of appraisal criteria, whether … Read more
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free – so that you can make financial decisions with confidence. Bankrate has partnerships … Read more
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free – so that you can make financial decisions with confidence. Bankrate has partnerships … Read more
[vc_row][vc_column][vc_column_text]If you have received a loan modification in the past, and you find yourself in financial trouble again, you may be wondering how many loan modifications you are allowed. The short answer is: the number of loan modifications you can receive depends on who your investor is and what their guidelines allow. As a reminder, … Read more
Buying a home is an exciting time, but it can also be filled with a lot of paperwork. One important document you’ll receive during the mortgage process is a mortgage loan commitment letter. This letter outlines the terms of the mortgage loan you have been approved for by the lender. A mortgage commitment letter is … Read more