Bella Mertz Department of Veterans Affairs (VA) home loans are mortgages specifically designed for veterans and active-duty military personnel. These government-backed loans have stricter requirements to make sure homes meet habitability standards. Since VA loans have different requirements than other mortgages, itâs common to have questions about the VA appraisal and inspection processes. Letâs take a look … Read more
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
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
High demand and low supply have caused housing affordability in South Carolina to drop by 10.9%, while the average home price has increased by over 18% since 2020. These changes make it pretty hard to qualify for a first-time home in rural areas. Luckily, there are some government-backed options for loans that can help. If … Read more
Editorial disclosure: Our goal is to give you the tools and confidence you need to improve your finances. The Loan Estimate and Closing Disclosure are two forms that you’ll receive during the home-buying process. The Loan Estimate comes at the beginning, after you apply, while the Closing Disclosure comes at the end before you sign … Read more
Paying off your mortgage loan is an exciting milestone. Whether you’re looking to be debt-free or want to refinance your home, you’ll need to request an official payoff letter from your mortgage lender. This letter provides the exact payoff amount needed to satisfy your loan. Using a mortgage loan payoff letter template can make this … Read more
Being a loan officer at a mortgage broker is different from being a loan officer at a mortgage lender. Each can differ significantly in terms of their roles, responsibilities, and operations. Here’s a breakdown of the primary differences: Mortgage Broker: Act as intermediaries between borrowers and lenders. They do not lend money directly but rather … Read more
Our student loan interest tax deduction calculator is fully updated for the 2023 tax year, ready for filing by April 2024. Most borrowers had zero interest for most of 2023, but the final part of the year could still yield interest deduction benefits. Borrowers with private student loans, commercially held FFEL loans, or Department of … Read more
Choosing between a USDA and VA loan can be a challenging decision. Depending on your specific circumstances and qualifications, one loan type may be more favorable than the other. USDA loans, offered by the United States Department of Agriculture, are ideal for low to moderate-income buyers looking to purchase in rural or suburban areas. On … Read more
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