The Freddie Mac’s CHOICERenovation Loan is a great solution for potential homeowners who are looking to buy a property that they must repair and renovate. Potential homeowners looking at “fixer-uppers” can really benefit from this loan that allows them to roll in the costs of renovations into their new mortgage. This saves time and money … Continue reading The Benefits of Freddie Mac’s CHOICERenovation Loan
Like insurance, property taxes are often a forgotten part of a mortgage payment. Property taxes can go up as time goes on as the value of your home rises. Therefore, considering this aspect of your mortgage payment before you buy can help save you money and frustration when choosing your new dream home. How Are … Continue reading Factoring Property Taxes Into Your Mortgage
If you’re a first-time homebuyer, applying for a mortgage may seem overwhelming, or at the very least, foreign to you—especially when there are so many terms and conditions. For instance, many borrowers are confused about what it means to be preapproved for a mortgage as opposed to being prequalified. If you can relate, rest assured … Continue reading The Difference of Being Preapproved vs. Prequalified for a Mortgage
While declaring bankruptcy can negatively impact your credit score in the short term, you may still qualify for a mortgage loan. However, it will take some time and effort. How long a bankruptcy keeps showing up on your credit report depends on the type of bankruptcy filed. Chapter 7 bankruptcies remain on credit reports for … Continue reading Can I Get a Mortgage After Bankruptcy?
Everyone has a different idea of what their ideal home looks like, but finding the best deal is something that any potential homebuyer can agree with. If you’re on the hunt for a great property price with some added bargaining power, check out our top reasons to buy during the fall. End-of-Year Incentives During the … Continue reading Is Fall a Good Time to Buy a Home?
According to a recent Freddie Mac report, Orlando is the fifth most rent-burdened metro area in the United States. As cities throughout Central Florida share drastic rises in rent, tenants are questioning whether they should renew their leases or jump into homeownership. If you’re contemplating an upgrade from a lease to a home loan, … Continue reading Why Rising Rent Prices Means It Is Time to Buy
Taking a different route to the traditional payday isn’t easy, but it can be incredibly rewarding. If you’re ready to take on the role of landlord or want to start flipping the fixer-uppers in your city, here are the top things to consider when buying an investment property. Steady Income Investment property income isn’t the … Continue reading Things to Consider When Buying an Investment Property
FHA loans are one of the strongest financing options for first-time buyers, and condominiums are one of the most affordable and easily maintained property options—but FHA-backed condo loans have not always been an easily accessible mortgage solution. However, with new FHA updates from the Department of Housing and Urban Development (HUD), the condo approval process … Continue reading FHA Revises Condo Requirements
There are multiple benefits available for veterans securing a VA loan and recent updates make VA mortgage loans an even better choice for some. To better prepare veteran borrowers for their next big purchase, let’s take a look at what the 2020 VA loan limit changes mean for upcoming applicants. The 2020 VA Bill Earlier … Continue reading Understanding the Updated 2020 VA Loan Limits
Anyone gearing up for a mortgage application is going to take some time to prepare their information, gather necessary documents, and comb through their credit reports. However, for those who write their own paychecks, the process can be a little trickier. With a few more hoops to jump through regarding income, credit, and borrowing in … Continue reading How to Qualify for a Mortgage When You’re Self-Employed
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