Mortgage News, Tips and Resources

It’s best to have all documentation, financials, commitment letters, and mortgage options prior to making an offer on a property in the current, record-breaking spring home-buying season led by bidding wars, pent-up demand, and decreased inventory.

Government-backed mortgages provide many financial benefits for first-time and repeat homebuyers, such as lower down payments, lenient credit score requirements, improvement project grants, and more.

Whether you’re a first-time or repeat home buyer, government-backed loans offer lower down payments, lenient credit scores, and many other financial benefits.

There are several rehab loans first-time home buyers should consider when researching mortgage options, including those offered by the Federal Housing Administration (FHA), Fannie Mae, and Freddie Mac.

Insured by various U.S. federal agencies, government-backed mortgages can help borrowers achieve home ownership through lower down payments and closing fees, flexible credit scores, and other advantages.

Yes, FHA 203(k) loans require mortgage insurance. As the government agency backing this loan, the Federal Housing Administration expects all borrowers to pay two types of mortgage insurance premiums: Upfront and Annual.

When considering a rehab mortgage for a new home purchase or renovation project, it’s important to examine various types and specific requirements, benefits, and drawbacks of each.

First-time home buyers may qualify for various conventional and government-backed loans, such as those offered through Fannie Mae, Freddie Mac, the Federal Housing Administration, U.S. Department of Agriculture, and Veterans Affairs.

Government-backed loans offered through the Federal Housing Administration (FHA), U.S. Department of Agriculture (USDA), and Veterans Affairs (VA) can assist qualified borrowers with home purchases, and improvement and rehab projects.

Yes, renovation costs can be added to specific rehab loans offered through the Federal Housing Administration (FHA), Fannie Mae, Freddie Mac, and more for borrowers meeting specific criteria regarding down payment amounts, project scopes, credit scores, and more.

It’s best to have all documentation, financials, commitment letters, and mortgage options prior to making an offer on a property in the current, record-breaking spring home-buying season led by bidding wars, pent-up demand, and decreased inventory.

When researching and comparing the best mortgages for your needs, there are several options, such as conventional, government-backed, jumbo loans, and more—all of with unique requirements, features, benefits, and cost-saving incentives.

Home equity loans, FHA 203(k), Fannie Mae HomeStyle™, and Freddie Mac Renovation Mortgage provide a financial assist when it’s time to renovate.

FHA 203(k) loans help cover the costs of purchasing a home in need of work and renovating it. They also aid in refinancing and renovating a borrower’s current home.

203(k) loan requirements include: providing proof of income, living in the property full-time, and making certain renovations that cost at least $5,000.

You can get a home renovation loan through FHA-approved lenders that offer 203(k) loans, which could finance certain changes you want to make.

FHA 203(k) loans help people fund home remodeling projects. This is a great option for those looking to buy a home that needs some work.

Buying a fixer upper has its advantages, but it is not for every. Ask yourself if you are willing to take on the work and spend the money.

There's a specific type of renovation loan, known as an FHA 203(k) loan, that can help home buyers pay for and repair their new property.

There are several reasons as to why buying a fixer-upper home is beneficial. For example, you'll be able to create your dream home.