The Federal Housing Administration (FHA) oversees the FHA home loan program and issues guidelines lenders use for the FHA approval process. The FHA does not approve loans or otherwise handle them in any way. The program was introduced in 1934 as an integral part of the National Housing Act of 1934 as just one of the […]
Financing a primary residence means having the most financing options available in today’s marketplace. For those wanting to buy and finance investment real estate there are fewer albeit very competitive choices. But with a primary residence, there are plenty and are divided into two basic categories- conventional and government-backed mortgage loans. A conventional loan is […]
If you’re eligible for a VA loan and want to come to the closing table with as little money as possible, a VA loan is going to be hard to beat and for several reasons. The most popular is probably not requiring a down payment. That is at least up to the maximum VA loan […]
Are you thinking of buying a property in a rural or maybe semi-rural area on some acreage? Maybe even a property where you can grow your own apples, peaches and other fruits or vegetables? For those who live in the suburbs and long to live on the land, buying a farm can be an ideal […]
Whether it’s applying online, meeting a loan officer face-to-face, or having a conversation over the phone about a new home loan application, your mortgage lender will ask for documentation before underwriting the file. Because mortgage lenders follow the same basic lending guidelines they all ask for the same basic set of information. Sometimes though you […]
The Annual Percentage Rate, or APR, is perhaps one of the most misunderstood numbers in the mortgage process. Even some loan officers can misinterpret that the APR is for and why it’s needed but in this article we’ll talk about how to use it. The APR was first introduced back in 1974 as part […]
Most borrowers have heard of the FHA home loan program, but might not be aware that there are different types of FHA loans. FHA loans of all types are government-backed mortgages and often offer low down payments and great mortgage rates for first-time homebuyers. But if your home was destroyed by a natural disaster, the […]
Real estate developers know how important it is to have the right financing for the right project. Such is the case for financing fix and flips. Fix and flips are transactions where the buyer acquires a property for a relatively short period of time with the sole purpose to sell, or flip, the home once […]
Government-backed mortgage programs such as FHA, VA, HERO and PACE offer some great home loan options! In today’s mortgage market they all play a vital role addressing specific borrowers as well as communities. How it Started The Federal Housing Administration (FHA) was created in 1934 as a way to help jump-start the economy by providing […]
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