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Mortgage News
FHA 203(k) – Tips on finding and hiring a contractor If you’ve already done your homework and you understand everything there is to know about an FHA 203(k) loan, it’s now time to hire a good contractor. This is an extremely important part of the process because you want to make sure the work is...
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Bridge loans vs bank loans: The key differences If you’re hoping to buy a new home, but you still own an existing home, you know the financial stress of potentially owing on two mortgages at the same time. That’s why some homeowners seek out a bridge loan. A bridge loan helps you buy some time...
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Pros & Cons of the Owner-Occupant Model  If you’re ready to secure financing, you probably already know there are several different loans out there to consider. The owner-occupant model is one type of financing that can be extremely beneficial to certain buyers in certain situations. In the case of a multi-family property, with the owner-occupant...
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If you’re ready to buy a home, you’re probably already thinking about how you’re going to handle that down payment. Many times, potential homebuyers don’t even know how much money they need to put down. While there are certainly other considerations, a down payment is at least partially tied to a home’s sale price. For...
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Multi-family investments: Financing tips for multi-family units A multi-family property can be a great investment, but financing one isn’t necessarily the same as financing any other residential property. That’s because, it terms of financing, the overall number of units determines whether a multi-family property is considered residential or commercial. Not only is the type of...
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Investing in a multifamily home can be a savvy way for a Chicago home buyer to live cheap, generate passive income, and ultimately build long-term wealth. In lending terms, multi-family homes with up to four units are considered residential, meaning you can purchase them with a a mortgage just like you would an ordinary single-family...
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Bridge loans: When to use one Finding a new home can be a process, but sometimes you find the right home in the right location at the wrong time. Sure, you may be emotionally ready to move, but if you’ve already found a new home and you’re still waiting for your current home to sell,...
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Bridge loans: Understanding how they work You’ve found a great new home to buy, but your current home hasn’t sold. That’s the financial dilemma some homeowners find themselves stuck in. Without the funds available to purchase a new home immediately, you may lose out. A bridge loan can help “bridge the difference” when you want...
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