The U.S. Department of Veterans Affairs offers financial assistance and benefits to active-duty military, Reserve members and retired military veterans, including affordable home loans. There are many steps to the VA house loan process, and it can typically take a couple of months from receiving an official Certificate of Eligibility to sitting at the closing … Read more
If you’re looking to generate some extra income with a rental home or buy a fixer-upper to flip for a profit, an investment property loan may be in your future. However, investment property mortgage rates are typically higher than what you pay for a primary residence, and you’ll need to meet stricter qualifying requirements. Knowing … Read more
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. As a loan officer who specializes in VA home loans … Read more
FHA loans require mortgage insurance premiums (MIP) to protect lenders, unlike conventional loans that have private mortgage insurance (PMI). MIP is often more expensive over the life of the loan. So can borrowers cancel PMI on an FHA loan? Unfortunately you can’t cancel MIP on an FHA loan in the same way as PMI on … Read more
This article is for educational purposes only. JPMorgan Chase Bank N.A. does not offer this type of loan. Any information described in this article may vary by lender. Thinking about selling your home while planning your next move? Doing both of these steps at once can be a delicate balance and may cause financial strain … Read more
If you want to use a VA loan for second home, there are a few factors you will need to consider. To be honest, there are more than a few factors. On the plus side, it is possible to get a second home with a VA loan guarantee. On the minus side, it’s not as … Read more
Have you ever dreamed of building your own home from the ground up? If so you’re not alone. Many people fantasize about the freedom and satisfaction that comes with designing and building a custom home. However the costs associated with new construction can be intimidating, leaving some to wonder – how do I finance a … Read more
Embarking on the journey of building a new construction home can be both exciting and overwhelming, especially when it comes to understanding the various expenses involved. One crucial aspect to consider is closing costs, which play an essential role in the overall budgeting process. This blog post will equip you with the knowledge necessary to … Read more
The conforming loan limit for 2024 is $726,200 for most states and $1,089,300 for high-cost areas. A loan amount exceeding this leads to a non-conforming loan, which comes with stricter requirements and unique risks. When youre thinking about buying a home, youll likely need a mortgage to help cover the cost. Conventional loans are a … Read more
The term USDA is typically preceded by the phrase “Grade A” and refers to a great cut of beef served at a restaurant. However, the United States Department of Agriculture (USDA) is responsible for more than assuring that quality meat is provided at local butchers and eating establishments. The organization also offers mortgage loans for … Read more