Prequalifying for a VA home loan is an important first step for servicemembers and veterans looking to leverage their VA benefits to purchase a home. Going through the prequalification process allows you to get an estimate of the loan amount you may qualify for, assess your eligibility, and start gathering needed paperwork. In this comprehensive … Read more
If you’re looking for an alternative to a traditional, site-built home, you may want to consider financing a mobile home through the FHA manufactured home loan program. Sometimes called an FHA loan for a mobile home, this government-backed mortgage option allows borrowers with imperfect credit to purchase an affordable home. Buying a manufactured or mobile … 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. Having a credit score of 500 or below can make … Read more
Getting an FHA loan can help you become a homeowner even if you have a low credit score or limited funds for a down payment. But FHA loans come with a big catch – you have to pay mortgage insurance premiums (MIP) for the life of the loan. This extra monthly payment can really add … Read more
USDA loans make homeownership possible for thousands of low-income Americans in rural areas. These low-interest, zero-down mortgages arent as well-known as their FHA or VA loan counterparts, but they include many perks that can make them a great option for eligible borrowers. In many cases, homebuyers can use a USDA home loan to purchase a … Read more
Buying a home is likely one of the biggest financial decisions you’ll make in your life. Understanding key metrics like the loan to value ratio can help you make smarter choices when getting a mortgage. In particular, the 80 LTV ratio is an important benchmark to be aware of. In this comprehensive guide, we’ll explain … Read more
Getting a new home built from the ground up is an exciting prospect. But paying for construction costs upfront can be a major obstacle for many prospective homeowners. This is where construction loans that only require 10% down can provide a viable path to your dream home In this comprehensive guide, we’ll explain what 10% … Read more
This calculator will compute an interest-only loans accumulated interest at various durations throughout the year. These amounts reflect the amount which would need to be paid in order to maintain a constant principal balance. For your convenience we list current Honolulu mortgage rates to help you perform your calculations and find a local lender. Calculator … Read more
Purchasing a second home can be an exciting prospect. Whether you want a vacation getaway or investment property, having a second piece of real estate opens up new possibilities. But qualifying for a mortgage on a second property is different than getting a loan for your primary residence. Conventional loans are a popular option for … Read more
Reviewed Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors opinions or evaluations. If you’re disabled or applying for disability benefits, you might need to borrow money. The good news is that the Equal Credit Opportunity Act prevents lenders from discriminating against you just because your … Read more