While it can be useful to listen to the advice from others who have gotten a mortgage, you might have heard some wrong information. Or, at the very least, dated information. Here are 5 rules that no longer are true for getting a mortgage: 1. You need a 20% down payment. I recently spoke to… Read more »
I know what you’re thinking: Why would I ever want to get an Adjustable Rate Mortgage? Isn’t it too risky? Sure, it could be. But there are actually some circumstances in which it might be the best option. Let’s look at the pros and cons of ARMs, and you can decide whether it’s too risky… Read more »
What’s the deal with 15 and 30-year mortgage loan rates? If you’ve ever shopped around for a new mortgage, you’ve seen lenders advertising rates for both. There are pros and cons to both, depending on what you want to do with the mortgage. But there’s also the unknown fact that “15 to 30” aren’t the… Read more »
If you have a Veterans Affairs (VA) Loan on your first home and are thinking about buying a second property, you can get more than one VA Loan without having to sell or refinance your current home. This is called VA Loan second-tier entitlement. The higher tier entitlement kicks in for purchases over $144,000 per… Read more »
Although it may not be as well known as the FHA, one of the most popular ways to get a zero down-payment mortgage is the USDA Guaranteed Loan. This loan is specific to rural areas. So if you are looking for a home with wide-open spaces in the country, you may want to consider this… Read more »
Two weeks ago, we discussed how first-time home buyers and those with little money could buy a house with a small down payment. For those of you who have a large savings account and excellent credit, here are some options for investing in property, whether it’s a new home or a second home, with a minimum… Read more »
Three years after the Civil War ended, Memorial Day was established to honor our veterans on the last Monday of May every year. But that’s not the only thing the US Government has done for veterans. Started in 1944, the VA Loan program makes the burden of getting a mortgage easier for qualifying veterans and surviving… Read more »
If you are a first-time homebuyer, getting a mortgage may seem overwhelming — especially with all the different options available. Maybe you don’t have a lot of money for a down payment or your credit isn’t great. The good news is, you can still qualify for a home loan. Here are 4 low or no… Read more »
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