November 14, 2022
Finding a move-in-ready house in a great neighborhood can be expensive. But if you use a Federal Housing Administration (FHA) loan for your home improvements, you could renovate a house […]
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Conventional Loans · FHA Loans · Home Buying · News · Private Mortgage Insurance
November 14, 2022
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 puts just 10% down. This loan type is also known as a piggyback mortgage.
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August 22, 2022
With an FHA loan, nearly all borrowers will be able to pay as little as 3.5% of the home’s purchase price as a down payment.
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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
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
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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FHA Loans · Home Buying · Understanding Mortgages
August 11, 2022
There are quite a few loan options available to buy fixer-upper homes. “By buying a fixer-upper, you can definitely increase the value of the home as it appreciates and as […]
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Ask Tim · Conventional Loans · FHA Loans · Private Mortgage Insurance
August 11, 2022
Q: I have good credit of about 730. I meet the requirements for both FHA and Conventional 97. I plan to live in the home for 6+ years. Which has […]
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July 27, 2022
Home buyers pay an upfront mortgage insurance premium when they close on an FHA loan. This upfront fee — known as UFMIP or MIP — equals 1.75 percent of the […]
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Conventional Loans · FHA Loans · USDA Home Loans · VA Home Loans
July 25, 2022
Low down payment mortgage options Many home buyers believe they need a 20% downpayment to buy a home. This misconception could stop buyers before they start, and cost them years […]
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