Bella Mertz Fannie Mae and Freddie Mac are restricted by law to purchasing single-family mortgages with origination balances below a specific amount, known as the “conforming loan limit” (CLL) value. Loans above this amount are known as jumbo loans. The national conforming loan limit value for mortgages that finance single-family one-unit properties increased from $33,000 in the … Read more
If youre shopping for a home loan, you might choose to go through a mortgage broker. The main service a broker offers is to find home loans and help you compare them. And a broker will typically help you with submitting your loan application and let you know how to prepare for closing. Before you … Read more
Getting your first loan can seem daunting, especially if you have little to no credit history. You may wonder if qualifying for financing is even possible. The good news is that while challenging, there are options for first-time borrowers with no credit. In this comprehensive guide, we’ll explain what it means to have no credit, … Read more
Generally speaking, the commercial real estate will have enough rental income to cover our mortgage payment. In comparison for example, home loans have now been almost entirely taken over by banks. Consequently, the home loans that are made available to private lenders are not investment worthy, in our opinion. Further, construction loans such as acquisition … Read more
In a Nutshell A personal loan can be a good way to build credit, but only if your credit history is already solid enough to get loan terms that aren’t too costly. If you have no credit history at all or credit that needs a ton of work, a credit-builder loan or credit card may … Read more
You can use a VA loan to buy land as long as you plan to build a house on it. For military borrowers, loans backed by the U.S. Department of Veterans Affairs (VA) are an attractive option, since they don’t require a down payment and can offer better terms than a land loan from a … Read more
Purchasing land in Mississippi can open up exciting possibilities – from building a custom dream home to establishing a farm or recreational retreat. But land isn’t cheap and securing financing can be a hurdle. Land loans offer a solution providing the capital needed to invest in raw land for future development. This guide covers key … Read more
When you make a home purchase offer, including an earnest money deposit demonstrates your commitment and introduces the critical role of a mortgage or loan contingency in the buying process. Known as the earnest money deposit, this shows that you’ve got skin in the game, and represents your good faith to buy the home. This … Read more
Reviewed Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors opinions or evaluations. When you need to get a mortgage, there are so many options that it might feel overwhelming. Your choice can have a big impact on how much time you spend shopping for a … Read more
When you buy a house, you have several tasks to focus on, from home inspections to mortgage paperwork. If youre planning to get a mortgage backed by the Federal Housing Administration (FHA), the house you want to buy requires an appraisal that meets FHA standards. Heres almost everything you need to know to get started. … Read more