Some sellers may be hesitant to accept offers from buyers using an FHA loan because they have stricter property standards than conventional loans. In some cases, sellers need to make repairs to the home to pass an FHA home inspection. FHA home inspections are performed to make sure buyers are purchasing a safe and livable house. Rate …
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Conventional mortgage loans are the most common type of mortgage loan used today. There are different types of conventional loans requiring between 3%-20% down. This is a complete list of all conventional loan requirements, guidelines, eligibility, and what you need to qualify. RATE SEARCH: Find and Compare the Best Mortgage …
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The effects of COVID have been wide-reaching in the mortgage business, some positive, some negative. While some lenders have changed their own rules, often referred to as overlays, the one thing that has not changed is the regulations set forth by FHA. FHA is still providing financing for borrowers with …
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Coming up with the down payment is the biggest obstacle homebuyers face when getting a mortgage. Luckily, there are some home loans that offer low down payments. One of those loan programs is Freddie Mac’s Home Possible loan that requires just 3% down. In this article, we will take a …
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When you think of a traditional mortgage, a conventional loan is probably what comes to mind. Conventional loans are the most popular type of mortgage loan used to purchase a home. In this article, we will cover conventional loan requirements, loan limits, rates, and see how they compare to government …
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FHA loans are popular because of their low down payment and credit requirements. If you have at least a 580 credit score you can get an FHA mortgage with just a 3.5% down payment. In this article, we’re taking a deep look at all FHA requirements and guidelines so you …
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