Finding yourself unemployed can be an extremely stressful situation. Your income stops, but your expenses don’t. Rent is often one of the biggest monthly expenses, so figuring out how to pay rent when you don’t have a job can feel impossible. However, there are options for getting rent loans even if you are currently unemployed. … Read more
If buying a home is on your wish list for 2024, it’s important to understand the minimum mortgage requirements for the most common loan programs. We’ll give you a quick tour of the loan landscape, so you know which loans come with the lowest credit score and down payment requirements, the highest loan limits and … Read more
If you’re a military borrower, getting approved for a VA loan with bad credit is possible, regardless of any blemishes in your financial history. The U.S. Department of Veterans Affairs (VA) will even guarantee mortgages for veterans who have overcome a previous bankruptcy or foreclosure. Getting approved for a home loan can be challenging if … Read more
Buying a home in a rural area of Michigan can be an affordable way to achieve the dream of homeownership. The USDA Rural Development loan program provides a path to homeownership for low- and moderate-income buyers in eligible rural locations across the state. Known formally as the Section 502 Direct Loan Program this offering has … Read more
A homeowners association (HOA) loan refers to a sum of money that a homeowners association borrows from a lender, usually a bank or credit union. Like any other loan, an HOA must pay back the borrowed amount in full, plus any interest accrued over the loan’s term. HOA loans serve as a financing option for … Read more
If you are behind in your mortgage payments, a loan modification may be an option to help you prevent foreclosure on your home. But a loan modification has advantages and disadvantages, which you should fully understand before you decide it’s the right approach for you. If you’re considering a loan modification, you should talk with … Read more
Losing a loved one is hard enough without worrying about how you’ll pay for a funeral. If you don’t have enough savings to pay your loved one’s burial expenses out of pocket, funeral loans can help you cover the upfront costs while you pay them back over time. However, there is a lot to consider … Read more
[et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”4.16″ global_colors_info=”{}”][et_pb_row admin_label=”row” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Text” _builder_version=”4.23.4″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”] Buying a second house when you already own one isn’t something FHA loans typically allow, but there can be 2nd FHA loan exceptions. At the Wendy Thompson Lending Team, we can help you … Read more
While it’s common for one person to appear on a personal loan application, there are instances when you may want to include a co-borrower to qualify for lower rates. If you apply for a joint personal loan, lenders consider both applicants’ income and credit histories, and because of that, both applicants are expected to meet … Read more
With a few exceptions, the answer is no Part of the Series Federal Housing Administration (FHA) Loans Understanding FHA Loans Low down payments and low credit score requirements make Federal Housing Administration (FHA) loans an attractive option for homebuyers who might not qualify for a traditional mortgage. While this may be good news for some … Read more