Recent Blog Posts
If your situation doesn’t fit the standard expected by lenders, you could find it more difficult to qualify for the home loan you want. But there could be other options that will make financing your home purchase easier.
Weighing up the pros and cons will better help you understand whether your unique financial situation best suits an FHA loan.
Before you consider buying a condo, it is important to find out if the condo has been approved by Fannie Mae or Freddie Mac, if you are going to use a conventional loan. If you are using a government-insured loan from the FHA, VA, or USDA, the condo project has to be approved by their requirements.
The option of using a non-occupying co-borrower on FHA, Fannie Mae or Freddie Mac mortgage loan opens up homeownership to more borrowers. These are often first-time home buyers who wouldn't otherwise be able to qualify so soon.
We look at FHA, VA, and USDA, which are the three main government-insured loan programs, to help you pick the right program for your situation.
USDA minimum property requirements that the home will need to meet before your loan will be approved.
Understanding these FHA minimum property requirements will help home buyers and sellers through the appraisal process and not be alarmed.
For people that want to not only buy a home but get a great deal on their mortgage, the USDA home loan is one of the better programs available for those who qualify.
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.
