There was a time not that long ago that lots of people was getting involved with real estate transactions using various no-money-down mortgages. People would buy a home in need of repair, take ownership and then try to sell it quickly to a home renovator and make a quick buck. This practice led to some undesirable transactions and caused several default loans. FHA decided that they would stop approving loans for any home that had changed owners within the past 90 days. But now there is a waiver for this rule.
FHA 203k loans can be used to make repairs to the property, update appliances, and even add square footage! Not every lender out there offers the 203k program, but we excel at it. Because of the complexity of this type of lending we will actually be doing a several part series to cover all that it has to offer.
There are some misconceptions about qualifying for the VA home loan among eligible veterans. Some of these misconceptions are simply rumors with no truth to them while others are basically misunderstood. Here is the truth about some of these myths.
Are you looking for a vacation property? Do you have a need to commute between two areas for work? These are examples of questions a loan officer would ask if you are considering buying or refinancing a second home.
There is some good news about the housing industry. Although the average price of a home has decreased overall sales of homes have shown a definite increase. In the past eight months, six months have shown an increase in sales. Although it is lower than last year’s sales, much of that is attributed to…
Although the Wisconsin, Illinois, Minnesota and Florida VA home loan is a great program for veterans looking to purchase a home, there are a few qualifications that need to be met in order to get their loan approved. Here is a brief outline of the basic requirements.
Many fall in love with the idea of buying a new home. Unfortunately, that euphoric feeling causes people to get details and plans mixed up. Buying a home is a wonderful investment, but it should be approached with the right strategy. BEFORE finding a home, and falling madly in love with a neighborhood, people should first talk to a mortgage loan officer to get pre-qualified.
You may have heard this term in the past and may not be quite sure what it means. A jumbo loan is for someone who is looking to acquire a loan greater than $417,000 ($625,500 in AK, HI, Guam, and U.S. Virgin Islands). We offer jumbo loans in Wisconsin, Illinois, Minnesota and Florida.