Boat financing is not terribly different from financing a car, a home, or other major purchases, but people often wonder just how long you can finance a boat for. There are different variables (like the size of your down payment and the interest rate), that will affect just how much your monthly payment boils down … Read more
Federal Housing Administration loans, or FHA loans for short, are government-backed loans overseen by the U.S. Department of Housing and Urban Development (HUD). FHA loans are available to borrowers with a less-than-ideal credit score and not a lot of cash on hand, and these loans give home buyers on a tight budget a chance to … Read more
An FHA loan, a mortgage insured by the Federal Housing Administration, is a popular choice for many home buyers because of its low down payment and modest credit score requirements. If you want to buy a condo and benefit from the low down payment that comes with an FHA loan, youâll need to either buy … Read more
The number of mortgages you can have depends on a few factors, ranging from your individual circumstances to general lending rules and industry standards. Let’s look at how mortgages work and how many you might be able to secure. Before we get started, it might be worth recapping some mortgage basics. A mortgage is a … Read more
Buying a home is an exciting milestone, but saving up for the down payment can be a major challenge, especially for first-time homebuyers. This is where a gift of equity can make all the difference in turning your dream into reality. What is a Gift of Equity? A gift of equity refers to when the … Read more
Mortgage loan originators play a critical role in the home buying process As a mortgage professional, your job duties directly impact whether a borrower can achieve the dream of homeownership. This article will provide a comprehensive look at what mortgage loan originators do on a day-to-day basis. What is a Mortgage Loan Originator? A mortgage … Read more
Nobody disputes that spouses should make major financial decisions — such as purchasing a car or refinancing an auto loan — together. A more complicated question is whether spouses should be on a car loan as cosigners. Although having a spouse cosign on your car loan might make sense in some instances, it can be … Read more
If you’re a veteran considering applying for a VA loan one key thing you’ll need to know about is the VA loan inspection requirements. VA loans come with certain standards that properties must meet in order to qualify for financing. Understanding these requirements ahead of time will help ensure a smooth loan process. In this … Read more
You don’t need to have a job to qualify for a personal loan. But you will generally need to have some proof of income. Editorial disclosure: Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, … Read more
But why would someone choose a hard money loan over a conventional one? What are the prerequisites for a hard money loan? When buying a new house, many Americans use typical bank loans. However, traditional bank loans are more challenging to get than hard loans. The number of property flips in America is significant. For … Read more