How To Get A 0 Down FHA Loan To Purchase Your First Home

Direct Mortgage Loans is excited to announce that eligible homebuyers can now take advantage of 100% FHA financing down payment assistance program, which means you can qualify for a FHA loan with no down payment required. To learn more about how this down payment assistance program works, including eligibility criteria and how to apply, keep … Read more

Are VA Loans Assumable by a Non-Veteran?

VA loans offer unique benefits to eligible veterans active duty service members and surviving spouses. One of those benefits is loan assumability – the ability to transfer a VA loan to another borrower. This opens the door for non-veterans to assume a VA loan and take advantage of the program’s typically low interest rates and … Read more

Do FHA Loans Have Prepayment Penalties?

Yes, you can pay off your FHA loan without a penalty for early pay off. HUD explains that a borrower may pre-pay an FHA mortgage in whole or in part and that the mortgage lender cant charge a penalty if you decide to do this. You can find this information in HUD 4155-2 (Chapter 3), … Read more

Using a Home Equity Loan for a Down Payment

If you have enough equity in your current home, you can use the money from a home equity loan to buy a second home. But it’s not always the best option. Suppose you own a home and can afford a worthwhile investment. You might consider purchasing a second property, which can generate additional income or … Read more