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Mortgage News
Bridge loans: Understanding the requirements A bridge loan works a bit differently than other home loans. It’s typically a short-term loan to help you “bridge the gap” of buying and selling a home at the same time. A bridge loan often has a 6 to 12 month term A higher interest rate Before you consider...
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Multi-family investments: How to qualify for a loan If you’re serious about a multi-family investment, you need to consider how to finance your future plans. Qualifying for a loan with a multi-family investment property isn’t always the same as qualifying for a single-family property. There are some differences to be aware of. The down payment...
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Multi-family investments: FHA multi-family investing Purchasing a multi-family property is usually a major investment. Sometimes, real estate investors worry about not coming up with enough money to cover a large enough down payment. That’s because, generally with multi-family properties the down payment has to be considerably more than it does with a single-family home. There...
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First-time Buyers: Everything you need to understand about closing costs If you’re a first-time buyer, you’ve likely put a lot of thought into how much home you can afford. You understand the purchase price, the down payment and what kind of mortgage interest rate you’re in for. What about extra costs? Unfortunately, sometimes first-time buyers...
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FHA 203(k) eligibility – How to qualify for a rehab loan If you’re in the market for a home that’s not exactly move-In ready, the FHA 203(k) loan may be a good deal. This type of loan helps you finance the home and its repairs, but not every potential buyer or home project qualifies. Because...
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Buying a home can feel like a complicated process. But if you’re prepared and know what to expect from the beginning, chances are your home buying experience will feel more exciting and rewarding than it will stressful. So to help get you started off in the right direction, we’ve compiled a list of 20 tips...
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First-time Buyers: How first-time buyer programs work If you’re in the process of buying your very first home, there are some buying programs out there you may want to take advantage of. First-time buyer programs are just that. They’re geared towards first-time homebuyers, and they’re available in cities and counties all across the nation. Specifically,...
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Side Hustles to Help you Save for a Down Payment  Affording your monthly mortgage payment is just part of owning a home. Most homebuyers also put down a down payment, which in turn helps make that mortgage a bit more manageable. The down payment you’re responsible for is dependent on which type of loan you...
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Making the move with a bridge loan If you’re ready to move on from your old home, but it still hasn’t sold, you may want to consider applying for a bridge loan. Essentially, the loan helps you move on to a new property, by providing an immediate, short-term loan. In this situation, you’re able to...
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FHA 203(k) guidelines – How to use one loan to buy and fix up a home   While some people are drawn to move-in ready homes, others welcome the chance to tackle a more challenging fixer-upper. Making even just a few key improvements to a home can help you quickly build up equity.  One challenge,...
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