FHA Loans · Understanding Mortgages
January 18, 2022
A couple in their mid-70s just recently purchased a home and got a mortgage to move closer to their children and grandchildren. They decided on Home Equity Conversion Mortgages (HECM) […]
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Ask Tim · Conventional Loans · FHA Loans · Private Mortgage Insurance
September 29, 2021
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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Conventional Loans · FHA Loans · Home Buying
August 13, 2021
One thing you should know as a first-time or repeat home buyer is that mortgage lenders allow financial gifts to be used toward the down payment on a house. Gift […]
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Conventional Loans · FHA Loans · USDA Home Loans · VA Home Loans
August 6, 2021
Low Downpayment 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 of […]
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May 13, 2021
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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FHA Loans · Home Buying · Understanding Mortgages
March 5, 2021
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 · FHA Loans · News · Refinance
February 12, 2021
The FHA streamline refinance allows borrowers to reduce their rate with no pay stubs, no W2s, and no appraisal. But is an FHA streamline possible while simultaneously removing a borrower […]
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February 10, 2021
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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Conventional Loans · FHA Loans · Home Buying · News · Private Mortgage Insurance
January 28, 2021
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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January 27, 2021
Have you found a home that you love, but it’s in bad shape? The 203k loan may be a perfect way to purchase a home that is a little rough […]
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Mortgage expert Tim Lucas has been helping home owners for over 12 years.
