The VA requires any home that a veteran buys to be in move-in condition. In other words, it’s safe, sanitary, and has enough space for your family. What if you come across a home that needs some TLC before you can move into it?Looking for Current Mortgage Interest Rates? Click Here.Luckily, you may be able to use the VA rehab loan. While you can’t do a lot of … [Read more...] about What is a VA Rehab Loan?
If you think you’ll use government financing to buy a home, you should familiarize yourself with CAIVRS or Credit Alert Interactive Verification System.Looking for Current Mortgage Interest Rates? Click Here.This database lets future lenders know of any defaults you had on a government loan. It also lets them know about any liens that you have in your name, again … [Read more...] about Understanding CAIVRS
If you want to buy a home that needs some work, you may take out a home renovation loan. These loans help you buy the property, but also give you money to renovate it. They are one of the only ways to purchase a fixer-upper, especially if the home won’t pass an appraisal.Looking for Current Mortgage Interest Rates? Click Here.But will you pay more interest for the home … [Read more...] about Will you Pay More Interest for a Home Renovation Loan?
You don’t make monthly mortgage payments on a reverse mortgage. You probably wonder how you ever pay the principal back with this type of loan. The good news is that you don’t have to worry about it right now. Eventually you or those that inherit your home will pay the principal back, but for now, you can enjoy your home’s equity, allowing you to age in place.Compare Offers … [Read more...] about When do you Pay the Principal Back on a Reverse Mortgage?
Are you ready to buy a home but aren’t sure how much loan you can obtain? If you want USDA financing, you can go through the pre-approval process. It’s quick and painless, plus it helps you save time when you actually do find a home.Looking for Current Mortgage Interest Rates? Click Here.Before we start, you should know that there’s a difference between the … [Read more...] about What You Must do to Get Pre-Approved for a USDA Loan