Homebuyers who cant put down a sizable down payment with a conventional loan will often need to pay for PMI, or private mortgage insurance. This insurance is designed to protect the lender in the event you default on your loan. For conventional loans, you’ll typically need to pay for PMI unless you can put down … Read more
Termites and what the VA labels “wood-destroying pests” can be a serious problem for homeowners, buyers and sellers. House hunters often worry about the condition of older homes when it comes to these pests, and in some cases rightfully so. To the untrained observer, termite infestations are very difficult to spot unless there is obvious … Read more
If you are looking to learn about VA loan inspection requirements, you won’t find any. Truth be told, the VA loan system does not require home inspections before deciding whether you are eligible or not. They do, however, require appraisals, but that is a different kettle of fish. We will explain that later. What’s important … Read more
If you’re a first-time homebuyer, you may have heard that sellers don’t like FHA loans. You were probably left wondering why the seller would care about the type of mortgage you’re obtaining, as long as they get their money. Well, the truth is that sometimes sellers do care and we’re here to explain why. But … Read more
With a few exceptions, the answer is no Part of the Series Federal Housing Administration (FHA) Loans Understanding FHA Loans Low down payments and low credit score requirements make Federal Housing Administration (FHA) loans an attractive option for homebuyers who might not qualify for a traditional mortgage. While this may be good news for some … Read more
If you want to build or renovate a home in Georgia an FHA construction loan may be the ideal financing option. FHA construction loans allow buyers with credit scores as low as 500 to finance new construction or renovations with a low down payment. In this comprehensive guide, we’ll explain FHA construction loan requirements, limits, … Read more
Changing the name on your mortgage loan can be a complicated process, but it may be necessary if you get divorced, want to add or remove a spouse or family member, or simply wish to update your name Here’s what you need to know about changing a name on a mortgage loan When You Might … Read more
Whether youre a first-time homebuyer, moving to a new home, or want to refinance your existing conventional or FHA mortgage, the FHA loan program will let you purchase a home with a low down payment and flexible guidelines.580 Credit Score- and only -3.5% Down RELATED ARTICLES FHA loan limits were established to define how much … Read more
If you’ve browsed real estate listings lately, you may have come across the phrase “cash to new loan” in the remarks section. This refers to a specific type of transaction where the buyer is utilizing a combination of cash and financing to purchase the property. But what exactly does “cash to new loan” mean and … Read more
Having a clear understanding of earnings potential is important, especially if you are researching career paths or considering changing jobs. If youre one of those people, and youre curious what kind of salary mortgage loan underwriters make, youve come to the right place. Using data from Lightcast,™ the Best Adult Colleges and Careers Guide has … Read more