The VA funding fee is one drawback of an otherwise fantastic home loan program. The loan itself offers zero down, no monthly mortgage insurance, and lenient credit guidelines. But the funding fee can be downright expensive. On a $300,000 loan, the funding fee for first-time use is $6,450 (2.15%). A second or additional use, it’s […]
How To Apply For VA Funding Fee Exemption Or A Refund After Loan Closing Read More »
Two powerful features of FHA loans are 1) buying a multifamily home, and 2) rehabbing a property. But can you combine these features to get an FHA 203k rehab loan on a multifamily? Yes, you can. FHA allows its 203k loan to be used on 1-4 unit homes as long as you plan to live
How To Get An FHA 203k Loan On A Multifamily Home Read More »
Buying a foreclosed home sounds great. They are offered at bargain-basement prices and you can achieve fast equity by fixing it up. And buying a foreclosure with a USDA loan would be even sweeter: get a zero-down loan AND a low home price? Yes, please. So, can you buy a foreclosure with a USDA loan?
Can You Buy A Foreclosure With A USDA Loan? Read More »
A USDA home loan is a fantastic homebuying tool, offering zero down payment, low rates, and lenient credit score guidelines. But in return, they come with some extra stipulations, such as how you must occupy the property and your household income. So, can you have a roommate if you get a USDA loan? Let’s talk
Can I Have A Roommate With A USDA Loan? Read More »
USDA loans are different than most other loan types because if someone moves in with you before you buy, they could derail your approval. Sounds strange right? Wouldn’t an extra person in the household make it less likely that you’d miss a payment? While that’s true, USDA loans come with strict income limits. They are
I’m Getting A USDA Loan And My Girlfriend Moved In. What Now? Read More »
A USDA loan requires no down payment, offers low mortgage rates, and is meant for less densely populated areas of the U.S. There’s even a construction loan available. So financing a barndominium with a USDA loan seems like the perfect solution. But it’s harder than it seems. That’s okay, because if you wanted to do
Can You Get a USDA Loan For a Barndominium? Read More »
Everyone thought rates would drop in 2024. Yet, here we are again with 7% rates. How does a homebuyer who was already struggling to afford a home deal with these rates? Check your homebuying eligibility. Forget the 30-year-fixed, for now As a country, we are addicted to a 30-year-fixed mortgage. It locks in your mortgage
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I’m going to give you advice that you don’t want to hear. If you’ve already decided that you want to buy a car before buying a house, then don’t read this article. One of the biggest challenges for many first-time buyers was qualifying for the home they wanted because they had a car payment. A
The Average Car Payment Cuts Home Buying Power By $110,000 Read More »
In early 2022, I realized my six-figure position at a top-5 U.S. lender was on the chopping block. I was in charge of building up website traffic for a new company website. When mortgage rates shot up, I knew the company would focus on surviving, not building its online presence. In mid-2022, my prediction proved
Why You Need to Open an Emergency HELOC Now Not Later Read More »
When I bought my first rental property (the one pictured above), my brother and I saved nearly $20,000 by conducting the sale ourselves. Here’s how you can do it, too. How we saved nearly $20,000 When my brother was planning on selling his home, I offered to purchase it as an investment property. His agent
How We Saved $19,140 When Buying a House From A Family Member Read More »
