If you are building your own home, you’ll need help with the financing. Because you cannot take out a standard mortgage without a home to live in, you’ll need a construction loan. This loan provides temporary financing to help you fund the cost of building the home. Once the home is complete and livable, you will need to refinance the loan into a permanent mortgage.Get … [Read more...] about What are the Requirements for a Construction Loan?
Home Renovation Financing: FHA 203K vs. Fannie Mae HomeStyle
If you want to buy a home that needs fixing up, you probably won’t get traditional financing. Conventional and government-backed programs will not fund if the home does not pass an appraisal because the home is not livable. The good news is that there are two options that help you purchase and renovate a home. These options are the FHA 203K loan and the Fannie Mae HomeStyle … [Read more...] about Home Renovation Financing: FHA 203K vs. Fannie Mae HomeStyle
How To Rebuild Your Credit After Bankruptcy
Filing for bankruptcy can be freeing. It gets you out of the debt you felt stuck in, but it also damages your credit for a while. How you manage yourself following the BK will determine just how long you have to deal with the ‘bad credit.’ With a few simple steps, you can rebuild your credit and get funding from lenders without having to pay the price.Get Matched with a … [Read more...] about How To Rebuild Your Credit After Bankruptcy
What is an Elevation Certificate for Flood Insurance?
An elevation certificate is necessary if you have to get flood insurance. You need flood insurance if you buy or own a home in specific flood zones. The certificate shows the building’s elevation, the type of building, and where the building is located on the flood map.Get Matched with a Lender, Click Here.The certificate shows the difference between the base flood … [Read more...] about What is an Elevation Certificate for Flood Insurance?
What is a Home Improvement Loan?
If your home needs repairs and you don’t have the cash lying around to pay for it, you may be eligible for a home improvement loan. As the name suggests, this loan provides funds for your home improvements by taking the money from the equity of your home.Looking for Current Mortgage Interest Rates? Click Here.It’s not a first mortgage. In fact, this loan does not touch … [Read more...] about What is a Home Improvement Loan?