Bella Mertz More and more lenders are offering no-doc mortgage options to help borrowers with tricky income situations with loans to buy or refinance homes. Also called no-income verification mortgage or stated income loan, a no-doc mortgage may help you close your home loan faster, especially if you have complicated tax returns. Today’s no-income-verification mortgages come with … Read more
An FHA construction loan can help you realize your dream of creating your forever home from the ground up, even if you have less-than-perfect credit. As long as you can make a 10% down payment, you may qualify for an FHA construction loan with a credit score as low as 500. Here’s what you need … Read more
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
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
The USDA home loan program provides many benefits to eligible homebuyers in rural areas, such as low interest rates and no down payment requirement With the high costs of real estate today, USDA financing opens doors for low- to moderate-income families who want the stability and investment of homeownership A common question I hear is, … Read more
Financing vacant land can be a challenge to say the least. At Texas Discount Land we make it easy to finance land and we understand all of the ways to fund vacant land for every type of buyer in the market whether you have great credit or not. Take a look at the various land … Read more
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Private mortgage insurance (PMI) is an additional cost required by most lenders when you take out a conventional loan with less than 20% down. With an FHA loan, this insurance is called mortgage insurance premium (MIP) and is required regardless of your down payment amount. MIP can add hundreds of dollars to your monthly mortgage … Read more
The average vehicle lifespan is over 12 years, according to the Bureau of Transportation Statistics. The average car also loses half of its value in the first three years. So when you purchase a three-year-old car, generally, you’re paying only half of its original price for way more than half of its remaining lifespan. But … Read more
If youâre getting a mortgage, youâre likely aware that there can be a ton of acronyms used throughout the process. One of the most confusing conversations involves explaining PMI vs. MIP. Private mortgage insurance (PMI) applies to conventional loans with less than 20% down payments, while mortgage insurance premiums (MIP) are associated with FHA loans. … Read more