Buying a home is a costly and intimidating venture. Add being single and a mom, and it feels like you barely have bandwidth to think about it between work, kids’ doctor appointments, and needing this thing called sleep. Fortunately, it doesn’t have to be as hard as everyone makes it out to be. New and …
Home Loans For Single Moms: Programs and Assistance Read More »
Looking for 203k loan lenders can be difficult because not every FHA lender offers these loans. You could spend days just finding a lender. Until now. We painstakingly put together a list of 203k lenders in every state. Each lender should be able to lend statewide, but we also noted their branch office location in …
Here’s a List Of FHA 203k Loan Lenders In Every State Read More »
Buying your first home is hard enough, but imagine purchasing a home with low income, and being the first in your family to do it. This is where the $25,000 Downpayment Toward Equity Act hopes to help. It is a bill introduced in Congress that seeks to assist first-time, first-generation homebuyers to break into the …
Downpayment Toward Equity Act: $25,000 Homebuyer Assistance Read More »
If there’s one group of potential homebuyers that deserves down payment assistance, it’s teachers. Educators have been historically underpaid, and often can’t afford to live in the communities they teach in – or any other community for that matter. Many can’t save up enough for upfront costs of homeownership like the 3-5% down payment plus …
Educator Down Payment Assistance Act: $25,000 Grant For Teachers Read More »
Finding an FHA 203k consultant in your state can be a challenge. Many 203k consultants don’t do it full time; they are mainly inspectors or general contractors and may not even advertise this role. Luckily, we’ve put together a robust list of consultants who can guide you through even the most complex 203k project, no …
Here’s A List Of FHA 203k Consultants In Every State Read More »
If you’ve ever looked into down payment assistance (DPA) programs, you may have been frustrated about the stringent requirements to qualify. Some require very low income, while others require you to buy in very specific geographic locations. The new EPM Empowered DPA program, though, is available to most home buyers nationwide, thanks to their wide …
Empowered DPA Program: 3.5% Down Payment Assistance Grant Read More »
FHA 203b vs 203k FHA 203b is simply another name for the standard FHA home loan program, while 203k is a home rehab program that allows buyers to finance the home purchase plus repairs with one loan. See if you can buy a home with FHA. Where do these numbers come from? The numbers 203b …
FHA 203b vs 203k : Which One To Use To Buy Your Home Read More »
FHA guidelines require the home that you purchase to be your primary residence. However, if you purchase a single-family home, you may be permitted to earn rental income by renting out a room. Connect with a lender Does FHA allow you to rent out a room in a single-family property? The FHA requirements are clear …
Can You Rent Out A Room With an FHA Loan? What To Consider Read More »
FHA buyers who have looked for a duplex, triplex, or fourplex lately have probably found out that competition is fierce for these homes. If you do find one for sale, you’ll probably have to go head-to-head with cash buyers and conventional, 25% down investors. But what if you could buy a single-family home and convert …
Can You Use FHA 203k To Convert A Single-Family To Multifamily? Read More »
Many first-time and repeat buyers wonder if they can use a co-signer on an FHA multifamily duplex, triplex, or four-plex loan. Unfortunately, you can not use a non-occupying co-signer on a 3.5% down FHA loan for a 2-4 unit property, per HUD guidelines. While this is disappointing news, here are some things you can do …
You Can’t Use A Co-Signer On An FHA Multifamily Loan. What To Do Instead Read More »
