Bella Mertz The conforming loan limit for 2024 is $726,200 for most states and $1,089,300 for high-cost areas. A loan amount exceeding this leads to a non-conforming loan, which comes with stricter requirements and unique risks. When youre thinking about buying a home, youll likely need a mortgage to help cover the cost. Conventional loans are a … Read more
The term USDA is typically preceded by the phrase “Grade A” and refers to a great cut of beef served at a restaurant. However, the United States Department of Agriculture (USDA) is responsible for more than assuring that quality meat is provided at local butchers and eating establishments. The organization also offers mortgage loans for … Read more
If you’re a homeowner aged 62 or older, a reverse mortgage from Quicken Loans may help provide financial flexibility and peace of mind in retirement But how exactly does a reverse mortgage work, and is it the right choice for you? In this comprehensive guide, we’ll walk through all the key details about Quicken Loans … Read more
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Millions of American adults have no credit history, or have a limited or outdated credit history that can’t be scored by traditional credit bureaus such as Equifax, Experian, and TransUnion. This can cause a roadblock when trying to buy a house, as mortgage lenders typically use your credit report to determine your eligibility for a … Read more
If you’re a veteran or active military looking to build your dream home, a VA new construction loan may be a great option for you. As someone who has researched these unique loans extensively, I want to provide an in-depth guide to help you understand what VA new construction loans are, who qualifies, and how … Read more
Owning a manufactured or mobile home can provide an affordable pathway to homeownership. With lower upfront costs than site-built homes, manufactured homes make it possible for many buyers to achieve their dream of owning rather than renting. However manufactured homes also come with their own unique challenges when it comes to financing. It can be … Read more
If you’re in the market for a mortgage, you may be considering a non-traditional loan These loans don’t follow the standard mortgage structure and can offer more flexibility for borrowers who don’t qualify for conventional loans However, non-traditional mortgages also come with their own set of risks and considerations. This comprehensive guide will explain everything … Read more
Purchasing a home that needs repairs can be a great way to get a deal in a competitive housing market. But securing financing requires some extra planning when the property isn’t move-in ready. In this guide we’ll look at options for using a conventional mortgage loan to buy and repair a home needing updates. Conventional … Read more
A barndominium combines the rustic exterior of a barn with the amenities of a modern home inside. Barndos make great primary homes as well as vacation getaways and offer an affordable way to build a custom home. But financing the construction of these unique structures requires some special considerations when it comes to construction loans. … Read more