The HUD 184 loan program provides mortgage financing guarantees for American Indian and Alaska Native families, tribes, or tribally designated housing entities. With a HUD 184 loan, borrowers can purchase, construct, rehabilitate, or refinance a single family home with a low down payment even for properties located on native lands. In 2023, HUD has updated … Read more
Home equity agreements (HEAs) also known as shared appreciation mortgages are becoming an increasingly popular way for homeowners to access the equity in their homes. But are these complex financial products right for you? Here, we’ll explore the pros and cons of HEAs to help you decide if tapping into your home through an HEA … Read more
Buying or building a new home is an exciting milestone in life. But it also requires a significant financial investment. If you don’t have enough cash savings for a down payment and closing costs, financing the purchase makes homeownership possible. An FHA loan is a popular mortgage option for first-time homebuyers and others because it … Read more
Government-backed Federal Housing Administration (FHA) loans are available to those with low or non-existent cash reserves or credit score limitations. Foreclosures, not only homes for sale by owner, should be considered when looking for a house to buy since FHA loans also allow homebuyers to purchase properties in this category. This may enable potential homebuyers … Read more
Purchasing a home is likely one of the biggest financial decisions you’ll ever make. And for many, obtaining a mortgage to finance the purchase can be a complicated process filled with paperwork and waiting This is why VA loan assumptions have become an attractive option for eligible homebuyers By assuming an existing VA loan from … Read more
When you apply for a mortgage, the lender will check your monthly income to make sure you can afford to make regular house payments. Freelancers, business owners, and other independent contractors are considered “self-employed.” Their income is determined by profit-and-loss statements, 1099s, and tax returns. Fortunately, that won’t exclude you from getting a mortgage. It’s … 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
Buying a new home is an exciting experience However, it also comes with its fair share of challenges, especially when it comes to financing One common question homebuyers have is whether they can get a mortgage loan for more than the purchase price of the home. The short answer is yes, you can borrow more … Read more
Building your own home can feel like a dream come true. It allows you the flexibility to create the home you want in a location of your choosing. Moving forward with a new build is a big decision and a big commitment. With a single close construction loan, we simplify the process for you with … Read more
If you own your own business and you’ve had a mortgage lender ask for a mortgage comfort letter from your CPA? You need to proceed cautiously. The reason? Often, these letters ask your CPA or CPA firm to either break state accountancy law. Or require your CPA to violate professional standards. Are you self-employed or … Read more