For the past 52 years, Harold Averkamp (CPA, MBA) has worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com. When a loan is originated, there are often fees charged to the borrower. These fees can include origination fees, … 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
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As long as you make on-time payments in full, you can use a personal loan to build credit. Notably, if you have bad credit or don’t have consistent earnings, you might end up with high interest rates. But if you have a steady income and good enough credit to qualify for low rates, a personal … Read more
When it comes to financing large purchases or projects, two popular options are fixed term loans and lines of credit. Both allow you to borrow money, but they work differently As you evaluate financing options, it’s important to understand the key differences between fixed term loans and lines of credit I’ll compare these two financing … Read more
As a veteran or active military member, your VA home loan benefits allow you to purchase a home with no down payment and flexible underwriting. One of the best parts of VA loans is that they can be used more than once. But how many times can you reuse your VA home loan eligibility? Let’s … Read more
The Federal Housing Administration’s mortgage insurance program aims to help make homeownership accessible and affordable FHA loans require a low down payment and have flexible credit requirements compared to conventional loans However, you generally can’t have two FHA loans simultaneously. Let’s look at the FHA rules on multiple loans and your options if you need … Read more
As a veteran you’ve earned fantastic benefits through your service including the ability to get a VA home loan. This program allows you to buy a home with no money down and no monthly mortgage insurance. It’s an incredible deal! But what if you already have a VA loan and now want to buy another … Read more
Homebuyers who cant put down a sizable down payment with a conventional loan will often need to pay for PMI, or private mortgage insurance. This insurance is designed to protect the lender in the event you default on your loan. For conventional loans, you’ll typically need to pay for PMI unless you can put down … Read more
Veterans and service members may have whats considered “poor” or “bad” credit and wonder if they can still use their VA home loan benefit. It’s important to understand the VA doesnt set credit score requirements. In fact, the VA doesnt mandate a minimum credit score at all. The ability to obtain a VA loan with … Read more