It is an age-old question – how much home equity do you need to secure a refinance? The answer is not as simple as the question, though. It depends on the program you choose. The parameters are different for FHA, VA, conventional and subprime loans. Here we will look at each program to give you an Read more
Tapping into Home Equity to Buy Another Investment Property
Many lenders and loan programs frown upon investment properties. Lenders do not want to stick their necks out for a property that may turn out to be a failure for you. Rather than settling for high-priced financing, you have the option to use the home equity in your primary residence to help you Read more
Making Additional Payments for Quicker Mortgage Payoff
If you signed mortgage documents for a 30-year term, the future can look rather overwhelming. Do you really want to make payments of $1,000 or more for the next 30 years of your life? What happens when you retire? Will you be able to afford the payments? The good news is there are ways to pay the Read more
Can You Obtain a No Cost Mortgage With a Refinance?
Refinancing a mortgage costs money. The lender needs to pay third parties for various services as well as use its own resources to fund your loan. In order to compensate for the costs involved, they charge you closing costs. Because there is not a seller to help pay these costs as there is with a Read more
Is it Possible to Buy Land with Conventional Loan Financing?
Conventional financing is the most common type of financing borrowers try to obtain, however, if you wish to buy land, it might not be the best choice. Many lenders do not offer conventional options for a land purchase. This is because purchasing land does not offer the same type of collateral as a Read more
