Borrowers who cannot qualify for a conventional mortgage are often able to obtain an FHA loan. However, to secure this type of loan, you must still meet certain requirements. What Is an FHA Loan? FHA loans are mortgage loans that are backed by the Federal Housing Administration. It is designed to help borrowers who are unable to meet the requirements for a conventional mortgage or other types of financing. These loans can be used to purchase single-family and multi-family homes. What Are the Requirements for an FHA Loan?
As a home buyer looking in the market, you are probably familiar with what a typical sale looks like. You probably also have a basic understanding of what a foreclosure is and how it will work. However, something that is a little bit less understood would be the short sale. While they are not as popular in the market, you may come across a few and you may even fall in love with a home that is a short sale. So what does this mean for you as the buyer?
Downsizing at any stage of life can offer multiple benefits. Less square footage may come with a smaller price tag and usually means less space to clean. However, when downsizing a home, there’s usually the question of what to do with everything. That’s when creative storage ideas become essential. Before Downsizing, Take Stock Before selecting the best storage options, it’s important to first take stock of all personal items, from furniture to clothing, kitchen gadgets, and keepsakes. Sort into items to keep, donate, discard, and place in long-term
Do you intend to sell your existing residence? If this is the case, your primary concern could be: If I sell now, where will I go? There is something you should be aware of if this strikes a chord with you. This summer, it could be simpler for you to move up because more houses are on the market. Utilize more options. This provides you an even better chance to sell your existing home and upgrade to one of your dreams if it no longer suits your needs
In the market for a new home in 2018? With the new year just a few short weeks away, that leaves you with precious little time to get your finances in order. Let’s explore a few tips that will help you get a jump on improving your credit score before the end of the year. Grab A Fresh Copy The first step is to order a fresh copy of your credit report from one of the major agencies. The Fair Credit Reporting Act allows you to access a
Not every buyer may want a fixer-upper. While your home for sale doesn’t need to turn-key or move-in-ready, there are certain fixes that are important to many buyers and that can help make the sale. 1. Landscaping It all starts with curb appeal. Landscaping helps set the mood and makes the first impression. It can be worth the time and money to replace missing mulch, pavers, or rock. Remove dead plants and shrubbery. Trim bushes and prune trees, especially lower limbs that hang over walkways or brush too