When you want to build your home from the ground up, you need a different type of financing. Because you have to pay all of the costs on your own, you need temporary financing to help you with those costs. Once the house is built, you then need permanent financing, just like a mortgage you would Read more
Fewer Americans are Seeking for Mortgage Applications
The Mortgage Banker Association reported a decline in the number of mortgage applications last week. This is according to the MBA’s Weekly Mortgage Application Survey done ending May 26, 2017 (Friday).The number of mortgage applications is fluctuating week after week. The recent survey showed a Read more
FHA Streamline vs Regular FHA Refinance
If you have an FHA loan right now, you have two options when you wish to refinance. The FHA streamline and a regular FHA refinance. Both options offer the ability to refinance your loan, but they offer vastly different benefits. What is an FHA Streamline? The FHA streamline is only offered to Read more
FHA 203(b) vs 203(k) Loans, Which Is the Purchase Mortgage for You?
The Section 203(b) and 203(k) lead the FHA’s portfolio of insured home loans. Section 203(b) is the purchase mortgage most commonly used by consumers while Section 203(k) is used for buying and rehabilitating a home. Which between the two FHA-backed purchase mortgages is most applicable to Read more
How to do a FHA Streamline Refinance on a Rental Property
You know the FHA loan as an owner occupied loan program. You used it to purchase your existing home, but now you do not live there. If it has been a few years and you want to refinance because rates are low or because you are underwater on the home, you have options. You can even use the FHA Read more
