A conventional mortgage is a home loan thatâs not insured or guaranteed by the U.S. government. Qualifying home buyers can use conventional mortgages to purchase a primary residence, second home, or investment property. You dont need a 20% down payment to get a conventional loan. Some programs allow down payments as low as 5% or … Read more
A VA Cash-Out refinance is a popular option for homeowners who want to use their home equity for a variety of reasons, from funding home improvements to paying for college. Its also a great opportunity to consolidate credit cards and other high-interest debts under one umbrella at an affordable rate. However, there are pros and … Read more
Are you looking to buy a house? Before you start daydreaming about your new home, you need to consider which type of mortgage youre going to use to buy it. You could opt for a regular conforming mortgage. But what if you want to buy an expensive home? For that, you probably need a jumbo … Read more
Knowing the type of interest you pay on a loan can prevent you from making detrimental financial decisions. Many loans charge simple interest, the most attractive form of interest on any loan. Hereâs everything you must know about the simple interest formula, how it works, and when it applies. As a personal finance blogger, I … Read more
Conditional approval is a step in the home buying process that might occur before you get your final mortgage approval. If your lender tells you that youâre âconditionally approved,â you might be wondering how it differs from initial mortgage approval to buy or refinance a home. Letâs take a look at the different types of … Read more
With a shortage of homes for sale on the market, you may be looking to build your new dream home. Building your own home can be a tremendously rewarding experience. You get to make choices about everything from location and floor plan to colors and landscaping. At the end of the process, you have a … Read more
Updated December 2, 2019 . AmFam TeamConsolidating credit card debt into a mortgage and lowering your monthly payments may look like an enticing option. However, is it the right option for you? If you’ve been looking at your bills lately and wondering how to save on those monthly payments, you may be thinking, “Can I … Read more
If you’ve always dreamed of building your perfect custom home, a one time close loan could make that dream a reality. This innovative loan product lets you finance the construction and purchase of a new home with just one loan and one closing. As a homebuyer, this streamlined process saves you time, money, and hassle … 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
Land loans can help you buy property without any structures on it, especially when you don’t have immediate plans to build on the land. Whether you’re planning to build your dream house someday or buying a new location for your business, you might need a land loan to make it happen. We’ll go over the … Read more