A down payment assistance (DPA) program has hit the market and it offers the widest eligibility criteria of just about any DPA program out there. It’s called DPA Advantage and it gives a 3.5% down payment grant for eligible homebuyers. Saving up for a down payment is now optional. Check your DPA Advantage Program eligibility. …
DPA Advantage: 3.5% Down Payment Assistance Grant 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 …
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 only work in very specific geographic locations. The new EPM Empowered DPA program, though, is available to most home buyers nationwide, thanks to its wide acceptance criteria. …
Empowered DPA Program: 3.5% Down Payment Assistance Grant Read More »
If you’re buying a home that has peeling paint anywhere on the structure, you may need to get it repaired whether or not you want to waive this requirement. It all depends on when the home was built. Peeling paint repair requirement for pre-1978 homes: Can’t be waived Peeling paint must be repaired if the …
Can You Waive the FHA Peeling Paint Repair Requirement? Read More »
What are $100 down HUD homes? The Department of Housing and Urban Development, better known as HUD, offers its foreclosed homes for just $100 down. Why? When someone gets an FHA loan, but doesn’t make the payment, HUD must foreclose on the property. HUD does not want to hold onto these homes. HUD’s top goal …
What is “FHA Repair Escrow”? An FHA Repair Escrow is also known as an FHA holdback. It is a way to “hold back” and finance funds for FHA-required repairs to be completed after closing. This feature can be used on regular FHA loans. Its purpose is to help a homebuyer proceed with a property purchase …
What Is FHA Repair Escrow And How Do You Use It? Read More »
A 203k loan allows you to buy and renovate a home with one loan. This program is ultra-popular because there’s simply no renovation loan that’s quite as affordable and lenient about qualification. You can buy a home that no one else wants due to deficiencies that make it ineligible for financing. Or, you can buy …
Limited 203k Loan: Buy and Remodel A Home In 2023 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 »
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 »
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 »
