If you don’t have the savings to pay a large down payment or a great credit score when buying a home, a Federal Housing Administration (FHA) loan can help. It can make it easier to get approved for a loan with lower down payments. You can buy a home with as little as 3.5 percent […]
Learn how to buy a home with no money down including information on FHA, VA, USDA, conventional programs and state specific loans!
If the idea of buying a property with only 3.5 percent for a down payment is appealing, an FHA loan could be for you. But before you buy your Minnesota property using an FHA home loan, there are a few things you need to know as a homebuyer. You can take advantage of a 3.5% […]
Along with St. Paul, Minneapolis is collectively called the Twin Cities. The metro area of the Twin Cities ranks at number 14 in terms of the overall population. Ranked as the most populous city in Minnesota, Minneapolis is also the county seat of Hennepin County. Population and Number of Homes According to a census from […]
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 […]
Back in 2010 FHA changed its rules for offering loans on condo units. The rules became so strict that a large number of condos across the country would not qualify for an FHA loan. Thankfully, changes are here. As of October 15, 2019, FHA will allow financing on a single-unit approved condominium project purchase. The […]
Although some of these things may sound too good to be true, or even insane, all of the following facts about the USDA mortgage program are true.
Understanding these FHA minimum property requirements will help home buyers and sellers through the appraisal process and not be alarmed.
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.
Nearly all of these VA guidelines and rules will apply to a VA mortgage whether it is a purchase transaction or a refinance loan.
