Contributor
Tim Lucas (NMLS #118763) was an editor of MyMortgageInsider.com. He has appeared on Time.com, Realtor.com, Scotsman Guide, and more.
The FHA streamline refinance program helps current FHA homeowners lower their interest rate and monthly payment. It’s a quick and cost-effective way to refinance with lenient documentation requirements…
Renting out your home could be the right choice if you want to buy another home. The choice to rent out your original home could create additional cash…
An 80 10 10 loan is a mortgage option in which a home buyer receives a first and second mortgage simultaneously, covering 90% of the home's purchase price. The buyer…
Fannie Mae aims to make home buying easier through its HomeReady mortgage program. Here are a few highlights of the program: Is a HomeReady mortgage only for first-time…
FHA loan requirements include minimum down payments of 3.5% and lenient credit guidelines. With competitive interest rates, FHA loans have enabled millions of people to buy homes when…
You can buy a multi-unit property, live in one unit, and rent the others. This isn’t as difficult as you might think. Many mortgages designed for primary residences…
Most conventional loans are “conforming loans” that meet the standards set by Fannie Mae and Freddie Mac. Conventional loans boast great rates, lower costs, and home buying flexibility.…
If you’re using an FHA loan to buy a condo, you might be surprised to find out that not all condo projects are approved for FHA financing. But…
You may be able to get rid of PMI on an FHA loan (the FHA calls it MIP), depending on when you got the loan and your down…
Putting investment property equity to work Cash-out refinancing is common for primary residences (owner-occupied homes). Many lenders also offer a cash-out refinance for an investment property or second…
