Receiving a Home Equity Loan with Bad Credit
If you have bad credit and you want to get a home equity loan, you will most likely need to have a certain amount of equity in your home, a low DTI and a healthy income. Otherwise, financial institutions might simply turn you away. It isn’t impossible to qualify for a home equity loan if […]
What You Need to Know About Getting a Second Mortgage
One of the most common loans for American homeowners in need of cash is a second mortgage loan. These days, they’re becoming more common than ever. Believe it or not, second mortgages were up by 178% in 2021, and there’s no sign of it slowing down. If you’re thinking about taking out a second mortgage, […]
What Are Fannie Mae Loans?
If you have a mortgage on your home, there’s a good chance that either Fannie Mae or Freddie Mac owns the loan. Owning 62% of conforming loans in 2020, these government-sponsored enterprises play a vital role in the housing market and therefore the economy. When you’re doing research to purchase your first home, learning about […]
Top Reasons Why You Should Consider Refinancing Your Mortgage
Did you know there are more than 53 million mortgages in the US? Unfortunately, more than 4.3 million of the mortgages are delinquent. Delinquency occurs when homeowners are at least 30 days late on making at least one mortgage payment. Following the COVID-19 pandemic, the delinquency rate rose significantly. If you are struggling to pay […]
FHA Loan Requirements in 2023
Ultimate Guide to Getting an FHA Loan in 2023 FHA loans are the key to homeownership for many types of borrowers, including first-time buyers and those with lower credit scores. These loans are backed by the Federal Housing Administration, which offers FHA-approved lenders protection in case a borrower defaults on the loan. Due to these […]
How Are Mortgage Rates Determined?
The last few years have been a rollercoaster ride for mortgages and home buying. Spurred on by the global pandemic, the market now has the most first-time home buyers in history. If you are one of those first-time buyers, how do you predict mortgage rates? Knowing what influences them can be confusing, but don’t fret. […]
Finding the Right Mortgage Lender in Stuart, FL
About a third of the US population doesn’t understand the ins and outs of mortgages. So if that’s you, you’re not alone! It’s normal to have no idea what down payment is required, what APR means, and how to find the best mortgage lender. You’ll want to learn a few things before going in so […]
How Hard Is It to Get an Investment Property Loan?
Do you want to make investments like the “big sharks,” those large investors with seemingly endless amounts of funds who gobble up big buildings and vast amounts of property? If so, you need to look into investment properties. A sizeable percentage of wealthy investors swear by real estate as a great source for income. In […]
Getting a Home Equity Loan for Your Minneapolis Estate
The purchases of homes were up last year, with over five million homes being bought by Americans. Whether they were first-time homebuyers or people looking to relocate, many individuals took advantage of record low-interest rates. If you’re in the market for a second property or need to pay off some debts, you’re in luck. There […]
Changes in Conforming Loan Limits: What You Need to Know
As you look forward to purchasing a new home, whether it’s a first-time buy or you’re looking to expand, you want to make sure the purchase meets your needs and expectations. Home financing is a critical part of the process. First, you have to understand the different financing options on the market, and what your […]