Buying a duplex with an FHA loan can be a great way for first-time homebuyers to get into real estate investing. The low down payment requirements and flexible credit guidelines of FHA loans make them one of the most accessible mortgage programs for purchasing a multi-family property. In this article we’ll explain everything you need … Read more
The time when you need a personal loan the most may also be the most difficult time to get one. Qualifying for a personal loan without a job can be hard, but it’s not impossible. We at the MarketWatch Guides team want to empower even those who are unemployed with information on the eligibility requirements … Read more
The term of a loan refers to the length of time you have to repay the loan. This is one of the most important factors to consider when taking out a loan as it impacts your monthly payments total interest costs, and overall affordability. In this comprehensive guide, we’ll explain everything you need to know … Read more
After months of searching and having several offers rejected, you’re finally under contract. Congrats! But how long will you have to wait until you can close on the sale? The current average is 45 days, which is down from an average of 58 days in Jan. 2021, according to ICE Mortgage Technology, Inc. (formerly Ellie … Read more
How much does a Mortgage Loan Officer make in the United States? The average Mortgage Loan Officer salary in the United States is $49,873 as of May 28, 2024, but the salary range typically falls between $42,596 and $58,430. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the … Read more
For many homebuyers, VA loans offer an affordable path to homeownership thanks to perks like no down payment and flexible credit guidelines. But VA loans come with another less-known benefit – they are assumable. An assumable mortgage allows a homebuyer to take over the seller’s existing VA loan, inheriting the same interest rate and terms. … Read more
Whether you’re hiring a new employee, reviewing potential tenants for your rental property or determining whether a candidate is eligible for a loan, verifying their employment is one of the most critical steps to ensuring they’re trustworthy. However, in our digital age, fake employment verification is rising. In a matter of minutes, someone can create … Read more
In a real estate contract, the financing contingency is a provision that allows the buyer to terminate the contract if they fail to obtain mortgage approval and funding for the purchase price within a specified time. Not all home financing contingencies are created equal, however. Depending on the region and local real estate customs, such … Read more
Veterans and service members may have whats considered “poor” or “bad” credit and wonder if they can still use their VA home loan benefit. It’s important to understand the VA doesnt set credit score requirements. In fact, the VA doesnt mandate a minimum credit score at all. The ability to obtain a VA loan with … Read more
The debt-to-income (DTI) ratio is a key factor lenders review when determining your eligibility for a VA home loan. But contrary to popular belief, the VA does not impose a strict maximum DTI limit that borrowers cannot exceed. This often leads to confusion regarding VA DTI guidelines and standards. In this article, we’ll break down … Read more