You’re almost there. You’ve done your research, assessed your financial situation, and weighed your options. You’ve shopped around until you’ve found the perfect lender and the perfect home. You’ve identified the right form of financing, gotten preapproved for a home loan, and had your meticulously crafted offer accepted. Now, the finish line is finally in …
Working with a Jumbo Renovation Loan
Fixer-uppers come in all shapes and sizes – and the loans needed to purchase them do too. The right renovation loan will help you pay for the updates needed to transform a fixer-upper into a place you’re happy to call home. While working with a jumbo renovation loan may seem like a daunting prospect, it might …
What to Consider When Buying a House
Becoming a homeowner has long been touted as part of the American dream, but daydreaming isn’t the best way to make smart financial decisions, and a home is certainly a major purchase. Do you know what to consider when buying a house?
FHA 203k Renovation Loan Requirements
Why might a homebuyer bypass a new, turn-key home and opt for a faded fixer-upper instead? It might be that they love the distinctive character and quintessential charm of an older home. It could be that they’re eager to put their own stamp on their home by shaping it to fit their needs and tastes. …
The Types of VA Loans
Are you eager to buy a home? Is your heart set on a fixer-upper? If you’re a current homeowner, does the idea of refinancing your current mortgage appeal? If you’re eligible to participate in the U.S. Department of Veterans Affairs’ home loan program, a VA loan might be the perfect way to achieve your housing …
When Is the Best Time of Year to Buy a House?
When is the best time of year to buy a house? That depends on your priorities. Are you hungry for the best selection? Would you rather avoid the competitive craziness that comes with so many aspiring buyers shopping at once? Are you hoping to strike a bargain with a seller who is eager to make …
What Is an Assumable Mortgage?
Traditional wisdom offers plenty of warnings about the danger of assuming, and there’s certainly a risk involved in taking something for granted or accepting that it is true without question. However, the word “assume” has another meaning – and that’s the relevant meaning when you’re discussing home loans. As Merriam-Webster notes, “assume” can also mean …
The Difference Between Fannie Mae and Freddie Mac
The Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation are both major players in the mortgage world, but neither organization’s name rolls smoothly off the tongue. That might be why they’re generally referred to as Fannie Mae and Freddie Mac, respectively. While they’ve embraced light and friendly nicknames, don’t be fooled. These entities …
Questions to Ask When Looking at a House
A home is a major purchase, so it’s vital that you arm yourself with useful information as you select a property to purchase and decide how much you’re willing to invest in it. While walking through a home is sure to inspire some queries, it’s smart to think ahead. Creating a list of questions to …
What Is a Lien on a House?
Homebuyers are often warned to check for liens on a property before making an offer. What is a lien on a house? Are there different kinds of liens? Why would a lien be an issue? Here’s what you need to know to protect yourself and your home purchase.
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