Can You Purchase an Investment or Rental Property with a FHA Loan?
An FHA loan offers home buyers many advantages over traditional conventional mortgages, including lower (or no) down payments, generous credit score allowances and more. For this reason, many people may be interested in leveraging an FHA mortgage to purchase an investment...
The Hidden Costs of Buying a Foreclosure
For many looking to purchase their first home, a second home or even an investment or rental property, buying a foreclosure may seem like an easy way to get a lot of house at a bargain. While foreclosures are almost always priced competitively or even under market value, buying a...
Can I Qualify for a VA Loan if I’ve Declared Bankruptcy in the Past?
If you are a member of our armed forces, a veteran or the surviving spouse of a veteran you may already know that you can qualify for a VA loan, backed by the Department of Veterans Affairs. If you’ve ever declared bankruptcy though, you may be concerned about whether or not you will...
Good and Bad Ways to Use Home Equity Loans and Lines of Credit (HELOC)
Now that the economy and housing markets are recovering and becoming stronger again, many homeowners are looking at home equity loans and/or lines of credit in order to upgrade their home, pay off debt or make large purchases. Like any loan, there are some great ways to use home equity...
Can you refinance a rental or investment property that you don’t live in?
If you own investment property, your aim is likely to make a profit, right? Or, at least, not to lose money each month whether you rent your property on a monthly basis or have a seasonal vacation rental. One of the best ways to decrease your monthly mortgage on your investment property and...
2016: The Year to Buy! How to Get Yourself Ready to Become a Home Owner
Some of the most popular New Year’s resolutions are financial promises and plans for the coming year. Is buying a home or financially preparing yourself to buy a home on your radar for 2016? If so, the best way to ensure that you reach that goal is to be proactive and start working...
The Fed's New Rate Increase - What Does it Mean for Homebuyers?
This month the federal government, via the Federal Reserve, increased its benchmark interest rate for the first time in nearly a decade. After years of historically low mortgage loan interest rates, what does this rate increase mean for future homebuyers? The good news is that this...
3 Ways to Pay Off Your Mortgage Early
Many mortgage lenders offer flexible repayment terms not seen in the past, including 10, 15 and 20 year repayment options in addition to the traditional 30 year mortgage loan. With mortgage loan interest rates at near historic lows, paying off your loan early doesn’t have the...
Top 3 Tax Tips and Hints for First Time Homebuyers
There are many advantages to owning your own home, and one of the rewards that homeowners typically enjoy comes at a normally stressful time of the year: tax season, in the form of a lowered tax bill thanks to deductions you are able to take on your home!
If you’re a first time...
What is a Conventional Mortgage Loan?
When you look into the types of mortgage loans available on the market, you have either loans that are insured (or, backed) by the federal government, or those offered by private mortgage lenders such as banks, credit unions or other lending institutions.
Loan options that are...