August 11, 2022
Editor’s note: Starting September 1, 2019, HUD, the administrator of FHA loans, reduced the maximum FHA cash-out refinance loan-to-value to 80%, down from 85%. What is an FHA cash-out refinance? […]
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August 11, 2022
What is a non-conforming loan? A non-conforming loan is any mortgage that is not partly guaranteed by a government department or agency. Conforming loans are conventional loans that meet the […]
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August 11, 2022
Some buyers find that they have built equity in the home a few years after buying it using an FHA mortgage. So they take out a home equity loan or […]
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August 11, 2022
Usually when a sizable amount of money is deposited into one of your accounts, it’s time to celebrate — except while you’re waiting for a mortgage loan approval. Under this […]
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August 11, 2022
What happens when a property is being sold as-is and the seller will not do repairs but the home doesn’t meet FHA minimum property standards (MPS)? How does the buyer […]
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August 11, 2022
When Carol Addy began in the mortgage industry more than 20 years ago, assumable mortgages were quite well known. Some of them even allowed the buyer to take over someone’s […]
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Cash Out Refinance · Refinance · Understanding Mortgages
August 11, 2022
Many homeowners dream of having their own swimming pools, especially after the heat of summer settles in. But after checking the price tag, a lot of would-be pool owners give […]
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Cash Out Refinance · Homeowner Tips
August 11, 2022
A cash-out refinance allows homeowners to convert their accrued home equity into cash. This cash can be used for anything, including paying off other loans. But is paying off your […]
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August 11, 2022
When it comes to buying or refinancing a home, the first questions that typically come to mind are the ones associated with interest rate, monthly payment, and closing costs. After […]
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August 11, 2022
Question: We received a letter from our lender saying our mortgage has been sold to someone else. Have we done something wrong? Is there some kind of problem here? Answer: […]
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Mortgage expert Tim Lucas has been helping home owners for over 12 years.
