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. Manufactured homes, also known as … Read more
If you have a mortgage backed by Fannie Mae you may be wondering how to look up specifics about your loan. The details about your mortgage can be useful to access especially if you want to take advantage of programs to lower your payments or modify your loan terms. Fortunately, Fannie Mae offers a free … Read more
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A mortgage loan modification can hurt your credit if the lender reports it as a settlement, but it can also provide long-term benefits for your credit history. If youre pursuing a modification to your home loan payments, youre already experiencing some financial difficulty. But while a loan modification can help make your payments more affordable, … Read more
Prospective homeowners may be looking to lessen some of the inherent financial burdens that come with home ownership. Sometimes, getting a second borrower for a VA loan can result in better terms, such as lower interest rates. In this article, we will look at the requirements for adding a co-borrower on a mortgage loan and … Read more
Do you have VA loan equity reserves? Let’s discuss how to build them up — and how to use them. Your VA loan equity reserve is the share of your property you actually own — or the home’s value minus your current VA loan balance. Your home equity reserves are continually growing in two ways: … Read more
The USDA home loan program can be a great option for eligible homebuyers in California looking to purchase a home in a rural area with little or no money down USDA loans offer low interest rates and flexible credit requirements However, there are specific eligibility requirements borrowers must meet to qualify. This article will cover … Read more
The FHA loan program offers married couples a low down payment option to buy a home together But if you already have an FHA loan, can you and your spouse get another one? Generally, the answer is no – you can’t have two FHA mortgages at the same time However, there are some special exceptions. … Read more
Floating interest rate loans can be a great option for certain borrowers, but they also come with some risks. This comprehensive guide will explain everything you need to know about floating rate loans so you can decide if one is right for you What is a Floating Interest Rate Loan? A floating interest rate loan … Read more
Home equity is a valuable asset that many homeowners have but don’t fully utilize. With an RCU home equity loan from Royal Credit Union, you can unlock your home’s equity and put it to work improving your financial situation. In this comprehensive guide, we’ll explain what home equity is, how RCU home equity loans work, … Read more