Mortgage rates on mobile homes are dependent on various factors, such as which mortgage option you get. Here is everything you need to know For many prospective home buyers, breaking into the housing market remains out of reach. This is where mobile homes—also referred to as manufactured homes—can provide a more affordable and flexible alternative. … Read more
Buying land to build a dream home, run a business, or hold as an investment can be an exciting prospect. However, land purchases often require financing, which means taking out a land loan. Land loans are a unique type of financing product, with interest rates and terms that differ from conventional mortgages. If you’re considering … Read more
Going through a divorce can be draining—emotionally as well as financially. The costs of a divorce in America is now in the tens of thousands, and thats just in legal fees. You might owe much more than that if youre required to pay your ex-spouse a settlement, alimony or child support. Keep in mind the … Read more
California residents looking for affordable housing options should consider manufactured and modular housing. Manufactured homes, also known as mobile homes, offer portability and affordability. Modular housing, which is also factory-built, provides the ability to have a budget-friendly home on a foundation. Financing manufactured and modular housing differs from traditional housing, but many options are available … Read more
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