If you’re a military borrower, getting approved for a VA loan with bad credit is possible, regardless of any blemishes in your financial history. The U.S. Department of Veterans Affairs (VA) will even guarantee mortgages for veterans who have overcome a previous bankruptcy or foreclosure. Getting a mortgage loan with bad credit can seem daunting. … Read more
If you’re in the market for a business loan, you’ll likely come across the term “simple interest amortized loan.” While it may sound complex, it’s simply referring to a loan with straightforward simple interest that is paid back over a set repayment schedule. In this article, we’ll break down exactly what simple interest amortized loans … Read more
FHA loans are a popular mortgage option for many homebuyers. They only require a small down payment of 3.5% and are insured by the Federal Housing Administration. With such attractive features, you may be wondering if you can have more than one FHA loan at the same time. The short answer is generally no, you … Read more
Student loans can feel like a huge roadblock when trying to get approved for a mortgage. With over 43 million Americans carrying student loan debt totaling $1.7 trillion, many potential homebuyers have found their dreams of owning a home stalled due to the impact of student loans on their debt-to-income ratio. Being denied a mortgage … Read more
Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and heres how we … Read more
Building your dream home from the ground up can be an exciting yet daunting process. While construction loans make it possible, qualifying for one and finding the right lender can be challenging. This is especially true for USDA construction loans, which have strict borrower and property requirements. In this article, we’ll explain what USDA construction … Read more
The loan-to-value (LTV) ratio is one of the most important factors lenders consider when approving a mortgage. It represents the ratio between the amount borrowed and the appraised value of the property. The lower the LTV ratio, the more equity the owner has in the property, which results in lower risk for the lender. In … Read more
Are you considering taking out a personal loan but worried you might not qualify due to poor credit or limited income? Using your car as collateral could help you get approved and even secure a lower interest rate But is it the right option for you? In this comprehensive guide, we will break down everything … Read more
Taking out a home equity loan can give you access to funds secured by your home’s value. But what if you want or need more financing than a single home equity loan provides? Is it possible to have more than one of these loans at the same time? The short answer is yes, you can … Read more
Closing costs can be a major financial hurdle for homebuyers, possibly adding thousands of dollars to an already daunting purchasing process. So, for many prospective homeowners, one question arises: Can you roll closing costs into your mortgage and reduce the money you need upfront? The short answer is yes, lenders CAN include a number of … Read more