While the cash gift is not only allowed but encouraged by the Federal Housing Administration, there are rules to how the money can change hands and how it is all documented. If the steps are not followed it is very likely that the home loan will be rejected.
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% […]
Buffalo Grove is one of the many Chicago suburbs. Classified as a village, Buffalo Grove is located across two counties, Lake and Cook. Buffalo Creek runs through the village, deriving its name from the bison that were commonly seen by Potawatomi Native American tribe. The bison also frequented the grove near the creek, lending the […]
An escrow account can be a great benefit to new homeowners that are trying to get their financial plans in order and establish some good money habits.
Buying a home requires a bit of preparation. If you meet the following conditions then you should be ready to purchase your first home this Fall!
We look at how you can tell if it’s a buyer or seller market you are dealing with, and more importantly, what you need to do to buy or sell a home.
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 […]
We look at the best questions to ask before making an offer so that you can be more confident in your choice.
Understanding these FHA minimum property requirements will help home buyers and sellers through the appraisal process and not be alarmed.
This article discusses things that lenders will approve for people moving to another state, as well as things that will get a mortgage application turned down, and why.
