The Freddie Mac Home Possible mortgage is the agency’s all-out effort to turn moderate-income renters into homeowners. Benefits include: Here’s what you need to do to get a Home Possible loan. Check your Home Possible eligibility. In this article: Home Possible income limits To qualify for Home Possible, you must make 80% or less of […]
Freddie Mac Home Possible® 2024: A Flexible, 3% Down Mortgage Read More »
Freddie Mac HomeOne® allows first-time buyers to access a 3% down conventional loan without income or geographic restrictions. This program is a game changer for any first-time buyer who can’t access other programs because they make too much or aren’t buying in eligible neighborhoods. Here’s your guide to HomeOne. Check your HomeOne eligibility with a
Freddie Mac HomeOne® 2024: 3% Down, No Income Limits Read More »
You can think of The Good Neighbor Next Door program as a bargain outlet store for homes. Buyers in public-service professions can buy a home at a 50% discount, sometimes with just $100 down. These homes are foreclosures owned by the U.S. Department of Housing and Urban Development, or HUD. The agency offloads homes while
Good Neighbor Next Door Program + Calculator Read More »
You may be scrolling through property listings and come across something strange: a detached condominium. It looks like a house, feels like a house, and acts like a house. Why is it a detached condo and is it something to avoid? Connect with a lender to see how much home you can buy. What is
Is Buying A Detached Condominium a Terrible Mistake? Let’s Find Out Read More »
Fannie Mae announced a 5% down conventional loan with no self-sufficiency test in late 2023. Interested buyers should apply now. Read more here. Buying a multi-unit house with an FHA loan is a fantastic idea. With one motion, you become a homeowner and a real estate investor. What’s more, your bottom-line monthly payment might be
FHA Self-Sufficiency Test Calculator For 3- and 4-Unit Properties 2024 Read More »
Many people wonder if they can use an FHA loan to get their feet wet as a landlord, earn rental income, reduce primary residence expenses, and start investing in real estate. The answer is a resounding “yes.” FHA loans allow you to buy a duplex, triplex, or four-plex (2-4 unit) property as long as you
How To Buy a Duplex, Triplex, or Fourplex With an FHA Loan Read More »
Earnest money shows the seller you’re serious about buying their property. You write a check as soon as you receive an accepted offer. That money sits at the escrow company until it’s applied to the down payment and closing costs at the end of the transaction. But if you back out of the sale without
How Much Earnest Money Do I Need for an FHA Loan? Read More »
Donald Trump beat Nikki Haley in the South Carolina Republican primary. Haley is his last serious Republican rival – and it was her home state. This all but guarantees the GOP nomination will go to Trump, landing him on the ballot with Joe Biden in November. One topic – among many – that mortgage shoppers
Biden vs Trump: Who’s Better for Mortgage Rates? Read More »
When it comes to buying your first house, you can go the traditional route and buy a single-family home. But if you’re the kind of person who likes to think differently, a 2-4 unit home might sound more attractive. You own a home and collect rental income. And with a 3.5%-down FHA loan, the idea
Multifamily Loan Calculator 2024: Single-Family vs Multifamily Payment Read More »
Buying a duplex, triplex, or fourplex, and now a single-family with an ADU is one of the smartest things you can do in real estate. You become a homeowner and a landlord with one transaction. But not every buyer knows about an FHA rule that could make it easier to buy a multifamily property than
FHA Rental Income Guidelines 2024 | Use Future Rent To Qualify Read More »
