A CEMA loan allows you to avoid paying the full mortgage recording tax on a condo or townhouse loan and the savings can be considerable. A consolidation extension and modification agreement, or CEMA, is a loan only available to New Yorkers. The most common CEMA is offered to those who are refinancing their mortgage. In … Read more
California residents with lower credit scores or limited down payment savings can still purchase property with the help of an FHA loan. These mortgages, backed by the Federal Housing Administration, limit how much you can borrow depending on where you live. For many single-family homebuyers in California, the FHA loan limit is $498,257, but in … Read more
If you’re looking to invest in real estate buying a multifamily property can be a great way to build wealth. With a multifamily property, you can live in one unit and rent out the others to generate cash flow. This strategy, known as “house hacking” allows you to have your housing expenses partially or fully … Read more
The short answer is yes. Financing manufactured homes (also sometimes called modular or mobile homes) is in fact allowed under VA mortgage guidelines. These are known colloquially as mobile home loans. Below, we’ll detail just exactly what a mobile home loan is, along with how, why, when, and where to pursue one. Purchasing a home … Read more
Finding the right mortgage can be tricky, especially if you’re self-employed or have an alternative income source. That’s where 3-month bank statement loans come in. These specialized loans allow borrowers to qualify using just 3 months of bank statements, rather than extensive tax returns. At my company, we’ve helped thousands of self-employed borrowers get approved … Read more
Renovating your home can be an exciting project, allowing you to update outdated elements or create the perfect space for your family. However, major renovations often require more money than most people have on hand. That’s where renovation loans come in. A renovation loan is a type of financing that allows you to borrow money … Read more
Private equity home loans, also known as hard money loans, can be a great financing option for real estate investors or homeowners who don’t qualify for traditional bank loans If you need to access capital quickly or have poor credit, a private loan secured by home equity may get you the funds you need In … Read more
[et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”4.15.1″ custom_margin=”0px||||false|false” custom_padding=”0px||||false|false” global_colors_info=”{}”][et_pb_row admin_label=”row” _builder_version=”4.15.1″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” custom_margin=”0px||||false|false” custom_padding=”0px||||false|false” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.15″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”content” module_class=”glossarycontent” _builder_version=”4.15.1″ _module_preset=”default” locked=”off” global_colors_info=”{}”] The interest of adjustable-rate mortgages (ARM) are tied to the index and margin. The index is a reference point for the interest rate and will vary based on the … Read more
Buying a home is likely one of the biggest financial decisions you’ll make in your life. When getting a mortgage, homebuyers have lots of options, including conventional, FHA, and VA loans. VA loans are mortgage options specifically for veterans, active-duty service members, and surviving spouses. They come with many benefits like no down payment and … Read more
It may seem to be a daunting, intimidating task to request a loan after bankruptcy, yet there’s ultimately nothing to be afraid of. People make mistakes; we all do. What’s important is recognizing the mistakes which were made, learning from them, and moving on to bigger and better things. In this brief, yet informative post, … Read more