Seller carryback financing is when the seller of a given property acts as a lender for a buyer on the seller’s property. The end result is that the buyer signs a promissory note to the seller, for the amount of the carryback with a set interest rate, set monthly payments, and a set time for … Read more
Buying land and constructing a home from the ground up can be an exciting and rewarding experience. With a land and building loan, you can finance the purchase of the land as well as the costs associated with building a new home. This type of loan simplifies the process by rolling everything into one mortgage. … Read more
Assuming a VA home loan can be an excellent way for buyers to purchase a home with a low interest rate. With mortgage rates on the rise, being able to take over the low rate on an existing VA loan provides significant savings. In this comprehensive guide, we will explain everything you need to know … Read more
The Rural Development loan program, also known as the Section 502 Direct Loan program, is administered by the US Department of Agriculture (USDA) to help low-income individuals and families in rural areas achieve homeownership. This program offers affordable financing options like low interest rates and payment subsidies to qualified applicants looking to buy, build, repair … Read more
Taking out a home loan is a major financial commitment. As you go through the mortgage process, you’ll encounter many fees and closing costs. One charge you may see listed is prepaid interest. What exactly does this mean? In this comprehensive guide we’ll explain what prepaid interest is how it works with home loans, and … Read more
An all in one construction loan, also known as a one-time close construction loan or single-close construction loan, allows you to finance the construction of a new home and provide permanent financing with just one loan and one closing. This type of loan covers the costs to purchase the land, build the home, and then … Read more
Nonprofits looking for suitable space to run their organizations must consider whether it’s best to lease space or buy a property using a nonprofit mortgage loan. While there are more financial options available today that make getting a nonprofit mortgage loan easier, nonprofit real estate ownership is not always the best solution for every organization. … Read more
When most people think about real estate loans, they immediately think of residential mortgages. Generally speaking, most residential mortgages are for 15 or 30-year terms. Residential mortgages are a A fully-amortized term loan means that the whole loan balance will be paid off over the life of the loan. For example, lets say you take … Read more
All in one loans have become an increasingly popular option for homeowners in recent years. As their name suggests these loans combine several financial products into one convenient package. But are they right for you? This comprehensive guide will explain everything you need to know about all in one loans. What is an All In … Read more
Tiny homes built on RV trailers or chassis are increasingly popular for offering a compact eco-friendly housing solution. However financing these movable tiny abodes comes with unique challenges. Unlike traditional mortgages for stationary houses, RV loans cater to the special needs of tiny home buyers. As a tiny home enthusiast, I’ve extensively researched the pros … Read more