When you purchase a house, you put yourself in a long-term commitment. Aside from your commitment to residency, mortgage payments usually take a decade and five years up to three decades in total! Considering that so much goes into loans and mortgages, let this article guide you in choosing the top FHA mortgage lender. Here are tips on finding the best…
Many homebuyers opt to purchase a new house with an FHA mortgage because of its easier to qualify for and lighter on the pocket. FHA home loans offer a back-up option to those whose credit histories and financial situations disqualify them from conventional mortgages. It’s now possible to own a home with a 3.5% down…
Source You should know that your credit score affects your financial life in a big, big way. Having bad credit will affect your ability to have a loan approved, how much interest is charged on your loan, or even your chances of getting employed. Maintaining good credit is an important part of adulthood and one…
With so many lending companies around and plenty of mortgage loans to choose from, some people still find it hard to own a home because of their credit and financial situation. While there are those that coast through conventional mortgage standards like it’s no big deal, others struggle to reach the required credit score, let alone afford the 20% down payment.…
The Federal Housing Administration created the FHA loans to provide low to moderate-income families a means to afford their own homes. Though the loans are still handled and offered by banks and private lending companies, the government insures the mortgage against future default, making it possible for lenders to be more lenient with their terms and requirements.…
The mortgage application process is usually mumbo-jumbo for first-time home buyers. Whether it’s mortgage terms, down payment requirements, or the type of home loans available, all that information can be too much for a newbie to take in. Out of all the available home loans out there, however, the FHA mortgage loan is one of the…
So you have finally decided to get a place of your own but are not quite sure where to get proper financing. If you have discussed the issue with your friends and family, chances are some of them might have told you to go for an FHA home loan and some might have suggested a…
It should come as no shock to find out that household debt continues to rise. Estimates say total household debt in America as of March 2018 is 13.21 trillion dollars. Because of such heavy debt, more and more Americans find themselves with falling credit scores and they don’t know how to fix it. In this…
Advantages of FHA Loans A Federal Housing Administration loan is originated by an FHA-approved lending institution and is insured by the federal government. Intended for low-to-moderate income households, this particular loan program calls for lower credit score and down payment requirement compared to other conventional-conforming loan programs and types. As of recently, borrowers can get up to 96.5% of a…
Regardless of whether you are a first-time home buyer or are in the market for your next home, the Federal Housing Administration has loan programs that can assist anyone who needs help with financing. That said, what exactly can the FHA do to better your circumstances?The perks of going for an FHA mortgage are plenty…