If the mortgage lender allows for it, using an escrow hold back can potentially save a transaction in the event that repairs are needed on the subject property.
Understanding how FHA gift funds can be used, can help clear up confusion for those purchasing properties with an FHA loan.
Understanding what an earnest money deposit is essential for anyone looking to purchase a property.
So whenever someone is purchasing a property, a bank is almost always going to require some sort of down-payment.
The FHA down payment assistance program is intended for first time home buyers, who make enough income to qualify for a home loan but for some reason or another just don’t have the down payment needed to buy it.
Understanding how banks structure loan scenarios, can help you as the borrower better understand the interest rate that is being quoted to you by a mortgage lending bank.
An adjustable rate mortgage is simply a mortgage in which the interest rate can move up or down depending on the interest rate index that it is tied to.
In this post, we’re going to go over go over the difference between a home loan modification and a home loan refinance.
Utilizing interest only loans can be quite valuable for borrowers who plan on refinancing or selling their properties several years in the future.