As mentioned, the USDA does have limitations on what homes are eligible for their No Down Payment Program. The USDA essentially has two requirements for Home Eligibility: Property Location and Property Condition. The property must be free of major repairs. The USDA uses a licensed Appraiser as their eyes on the property. If the appraiser … Read more
Figuring out a hard money loan can be a complex process. There are many variables, such as fees and interest rates, to consider. Fortunately, with a hard money loan calculator, you can easily calculate your monthly payment on a hard money loan. It’s as simple as inputting the principal balance, interest rate, and repayment period … Read more
The time it takes to receive funds from a home equity loan or HELOC varies based on the length of the application, the lender’s processing time, and the appraisal process. Most home equity lenders disburse funds in two to four weeks. However, we’ve found a lender that can release your funds in as little as … Read more
Yes, you can still obtain a home equity loan with bad credit — but you will need more income, more home equity and less total debt than someone with good credit. Your loan will also have a higher interest rate, though it may be worth it if you need to pay off high-interest debt or … Read more
Having good credit is important for getting approved for most mortgages Lenders want to see you have a solid history of managing debt responsibly, But what if you don’t have established credit at all? Is homeownership still possible? The answer is yes. You can still get a mortgage even with no credit score through a … Read more
AmONE is an online loan marketplace that helps connect borrowers with lenders offering personal loans, business loans, student loans, and more. In this comprehensive guide, we’ll walk through exactly how AmONE’s loan matching service works and what you can expect as a borrower. Overview of AmONE Founded in 1999, AmONE is one of the pioneers … Read more
Buying a home is one of the biggest financial decisions most people will ever make. With home prices continuing to rise across much of the country, many first-time homebuyers are looking for ways to lower their monthly mortgage payments so they can afford their dream home. One way to do that is with a 5/1 … Read more
Editorial disclosure: Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. Credible Operations, Inc. NMLS # 1681276, is referred to here as “Credible.” If you’ve filed for bankruptcy, it can … Read more
We’re here to help you in all of lifes moments, like buying your first home. One of the best options as a first-time home buyer is an FHA loan. We partner with the Federal Housing Administration (FHA) to offer FHA loan options, which are government-insured loans with low down payments. Contact one of our experienced … Read more
Getting pre-approved for a home loan is an important first step when buying a house It shows sellers that you are financially ready to move forward with a purchase But pre-approvals don’t last forever. So how long are they good for? What is a Home Loan Pre-Approval? A pre-approval is when a lender reviews your … Read more