The Federal Housing Administration (FHA) does more than offer ways for people to buy a home. They have another program designed to allow homeowners to get a lower interest rate, and hopefully a lower payment, without going through all the normal work associated with a refinance. The program is called the FHA Streamline Refinance and […]
VA Home Loan in Illinois Among the various benefits offered to our men and women who have served in the military, the VA mortgage is a real gem. The VA loan is a mortgage program that has empowered thousands of residents in the state of Illinois with the ability to buy a home and secure […]
Saving for a down payment can hold you back from purchasing a home. But with the Illinois FHA program, you can purchase a home with as little as 3.5 percent down, making saving for the down payment a little easier. You might have money saved in your checking or savings accounts, but family members can also […]
VA Mortgage Requirements and Guidelines: A Detailed Look In 1944 the United States Congress introduced the bill that paved the way for the Veterans Administration (also called VA) to officially offer the VA mortgage to veterans. While there have been a few changes and improvements to the lending rules over time, the main intent remains […]
For many potential home buyers, the FHA mortgage is a fundamental part of their buying strategy. This particular mortgage has been a staple program for multiple generations and has helped numerous people realize the dream of owning a home. FHA Mortgage Requirements FHA, an acronym for Federal Housing Administration, does not directly offer loans. Instead, […]
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If you are looking to make a low down payment or if you are a veteran, the government may be able to help you with a Wisconsin, Illinois, Minnesota or Florida purchase or refinance! Check out these great government mortgage programs: FHA Mortgage Home Loans FHA loans are loans insured by the Department of Housing […]
The FHA 203k loan is a good way to buy a home and also get the extra money that can be used for renovations, repairs or both. There are good points and bad points to the loan and all of these should be considered before making a decision to purchase a property.
The United States Department of Agriculture (USDA) offers a loan program known as the USDA Guaranteed Rural Housing Loan or just USDA Rural Housing mortgage. This program has been around for a number of years and is a great option for buying a home. The USDA Rural Housing Mortgage program is unique in three ways […]
The following will compare an FHA loan vs Conventional mortgage, not to show that one is better than the other, but to highlight the strengths of each mortgage.
