As a Native American, there’s no reason that you need a large down payment to buy a home. Section 184 loan down payment requirements are ultra-low, and assistance may be available. That’s great news, since the down payment is often the biggest barrier to homeownership. Here’s how much down payment you need for this homebuying […]
Section 184 Loan Down Payment Requirements and Assistance Read More »
If you earn commission as any portion of your income, it may help you qualify for a mortgage. Here are guidelines for FHA loans, but principles here apply to most loan types. See if your commission income qualifies you for FHA. FHA rules for commission income The key ingredient lenders look for with commission is
Commission Income: How to Qualify for FHA, Conventional, VA, USDA Read More »
FHA allows you to use part-time income to qualify for a mortgage. Whether you’re a restaurant server, retail worker, or have other part-time work, your income could help you become a homeowner. Here are FHA’s rules about using part-time income for your mortgage. Check your FHA eligibility. How does FHA define part-time work? FHA defines
Using Part-Time Income to Qualify for FHA Read More »
More than 400,000 Native Americans live in Arizona, putting it in the top three in the U.S. for Native population. It’s no wonder that it’s also the third most popular state for Section 184 Loans, according to HUD. What is surprising is that more Native Americans don’t use the program. In fact, fewer than 3,000
Section 184 Loans Arizona: Affordable Homeownership For Native Americans Read More »
Section 184 Loan rates are tough to find online for a few reasons. That’s why we advise you to get a personalized rate quote from a Section 184 Loan lender. No online estimate will show your true rate. All that being said, we’ll try to give you a ballpark of where rates are at the
Section 184 Loan Rates: What Can You Expect To Pay? Read More »
Second homes have been the unlikely recipient of massive appreciation since the pandemic. Vacation hot spot, Florida, experienced 56% growth in home prices between November 2019 and November 2023, an increase of $146,000 on average, says Redfin. Vacation property owners are now wondering how to leverage this newfound equity. Fortunately, conventional lending allows cash-out refinances
7 Steps To Get A Cash-Out Refinance On A Second Home Read More »
Disputing items on your credit report can derail your mortgage approval. The reason: your mortgage lender removes disputed accounts from its analysis, rendering any approval inaccurate and unusable. So lenders will simply set the file aside until all credit disputes are settled or removed. This can delay your home shopping or put your earnest money
Don’t Dispute Items on Your Credit Report Before Getting a Mortgage. Here’s Why Read More »
California has the biggest population of Native Americans of any state, over 800,000 strong. That’s over 300,000 more than Oklahoma, the state with the next largest Native population. It’s surprising, then, that California ranks only 4th for Section 184 Native American Home Loans. Perhaps if more Native People in California knew about this program’s benefits,
Section 184 Loans California: Affordable Homeownership For Native Americans Read More »
New Mexico is home to more than 200,000 Native Americans, which is why the state is one of the most popular for Section 184 loans. Section 184 is another name for the Native American Home Loan program, which is opening up opportunities for many people to become homeowners. It offers a low down payment, no
New Mexico Section 184 Native American Home Loans Read More »
If you’re reading this article, you’re probably thinking about how to provide housing to your aging parents. I’m fortunate that my parents, who are nearly 80, live in a great home that they can (so far) manage. But if that weren’t the case, I would be thinking about using Fannie Mae’s Family Opportunity Mortgage. This
Family Opportunity Mortgage: Buy A Home For Parents At Lower Rates in 2024 Read More »
