The United States Department of Agriculture (USDA) offers various loan programs to help individuals and families living in rural areas achieve homeownership One such program is the USDA Single Family Housing Direct Home Loan program, also known as the Section 502 Direct Loan Program This program provides affordable financing to low- and very-low-income applicants to … Read more
When you pay off your mortgage, take these steps to smooth the financial path as you assume full ownership of your home: Paying off your mortgage is cause for celebration. Before you pop the Champagne, however, take these steps to smooth your financial path to full homeownership. Paying off your mortgage is a huge accomplishment. … Read more
Personal loans in Los Angeles can give you quick access to funding when you need to finance a large purchase, pay for an emergency expense or consolidate your debts. On average, personal loan debt in California is $16,790, and lenders use a variety of factors to determine if borrowers qualify for a loan. Your credit … Read more
A loan modification can be a lifeline for borrowers struggling to make their mortgage payments. By extending the repayment term lowering the interest rate or reducing the principal balance a modification makes monthly payments more affordable. But will the process hurt your credit? Let’s take a close look at how loan modifications can impact your … Read more
Buying or building a manufactured home can be an affordable way to become a homeowner. With factory construction keeping costs low modular and mobile homes offer a budget-friendly alternative to site-built houses. But financing the construction of a manufactured dwelling comes with its own unique challenges. Construction loans designed for manufactured homes make the process … Read more
If you’re a service member or a veteran who wants to build your own home, a VA-backed loan could be the best way to go. With a VA Purchase Loan, which is a benefit of your service, you can get financing to purchase land and to build your own home, all wrapped into one mortgage. … Read more
Maryland SmartBuy 3.0 gives homebuyers an opportunity to purchase any home in Maryland that meets Maryland Mortgage Program guidelines while paying off student debt. To qualify for the Maryland SmartBuy 3.0 program, homebuyers must have an existing student debt with a minimum balance of $1,000. Maryland SmartBuy 3.0 financing provides up to 15% of the … Read more
The iSDA one time close loan is an innovative loan program offered by the United States Department of Agriculture (USDA) that allows borrowers to buy land and build a home with one loan and one monthly payment. This loan combines financing for the land purchase, construction costs, and a long-term mortgage into a single loan … Read more
The Federal Housing Administration (FHA) loan program makes homeownership more accessible for many buyers. FHA loans require lower down payments and have more flexible credit requirements than conventional loans. However, the FHA places limits on these government-backed mortgages to prevent misuse. While you can get multiple FHA loans throughout your lifetime you usually can only … Read more
You can use this USDA eligibility map to find USDA-eligible homes in your area. Look up the address you’re interested in purchasing to verify it falls within a rural area, as determined by the U.S. Department of Agriculture. As an Arkansas resident exploring home financing options, you may have come across USDA Rural Development (RD) … Read more