FHA Loan Down Payments: The Complete Guide
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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FHA Cash-Out Refinance: Access Your Home Equity
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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Non-Conforming Loans: The Complete Guide
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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Complete an FHA Streamline Even if You Have a Second Mortgage
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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Why You Should Avoid Large Bank Deposits During the Mortgage Application Process
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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What if the home does not meet FHA Minimum Property Standards (MPS) and selling as-is?
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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What Are Assumable Mortgages and How Can You Get One?
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
The Best Ways to Finance a Pool
August 11, 2022
Many homeowners dream of having their own swimming pool, 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
Should You Pay Off a Car Loan With a Cash-Out Mortgage?
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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How Do I Remove PMI On My Conventional Loan?
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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