Buying or building a new home is an exciting time. But it also requires making one of the biggest financial decisions of your life – how to finance it. You essentially have two main options: Take out a traditional mortgage if purchasing an existing home Get a construction loan if building a new home. But … Read more
Lending money inherently comes with risks. And it gets even riskier when fraudsters join the party. In this article, we’ll look at the most common methods fraudsters employ to commit loan fraud, and – importantly – how to protect your business from them. As an AI language model, I am unable to engage with content … Read more
Taking out a home equity loan can provide funds for major expenses like home improvements, debt consolidation, and more. But these loans come at a cost in the form of interest charges over the repayment term. The faster you can pay off your home equity loan, the more money you’ll save on interest In this … Read more
Government-backed Federal Housing Administration (FHA) loans are available to those with low or non-existent cash reserves or credit score limitations. Foreclosures, not only homes for sale by owner, should be considered when looking for a house to buy since FHA loans also allow homebuyers to purchase properties in this category. This may enable potential homebuyers … Read more
A home inspection provides an in-depth look at a property to inform prospective buyers as much as possible before they commit to purchasing a home. Many real estate agents recommend getting a professional home inspection lined up as soon as youre under contract with a seller. As a VA loan borrower, you may need clarification … Read more
Veterans and service members who want to purchase multiunit, also known as multifamily, properties often see it as an investment opportunity. For many people, the idea of having tenants help pay some or even all of the mortgage is very appealing. Veterans have a unique opportunity to invest in real estate without a down payment … Read more
Foreclosures often allow buyers to purchase a home under its current market value. Since lenders and banks don’t want to hold onto foreclosed properties, they’re typically motivated to sell, giving buyers more bargaining power. Of course, foreclosed homes may need repairs because they’re often sold as-is. However, it might be well worth it to save … Read more
“Can I get an FHA loan for a second home?” is a common question among homeowners wanting to purchase a secondary property as their primary living space. In this guide, you’ll learn all about getting an FHA loan for a second home, including the requirements and conditions. Purchasing a vacation home or second property is … Read more
It’s possible to use a VA loan for a second home, but this process isn’t as easy as simply finding a lender and applying for another mortgage. There are quite a few different rules you’ll need to follow to ensure that you qualify. With that in mind, here’s a look at what you need to … Read more
Reviewed Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors opinions or evaluations. A collateral loan is a secured loan that requires the borrower to provide an asset as security for repayment. With these loans, a lender can take possession of your property—the loan collateral—if you … Read more