FHA recently announced a change to its boarder rental income guidelines, and it could mean expanded affordability for struggling first-time buyers.
The USDA funding fee comes in two forms: an upfront funding fee of 1% of the total amount borrowed and an annual funding fee of 0.35% of your remaining loan balance.
Technically, FHA Jumbo Loans don’t exist, but some buyers can still finance high-value homes with FHA loans. For buyers living in cities where home prices have skyrocketed, FHA high-balance loans can serve the purpose of an FHA Jumbo loan.
A new-construction home can save you the hassle of remodeling and could be more cost-effective than an existing home in the long run. But these are far from a fool-proof homebuying strategy.
USDA loans offer the opportunity to buy a manufactured home with zero down. But it must be a new, never-lived-in manufactured home to be eligible.
How are single people buying homes in this market? We take a look.
The USDA Streamlined Refinance and Streamline-Assist programs require minimal documentation and no home appraisal. The streamlined-assist option doesn’t require a credit check but USDA borrowers must reduce their monthly payments by at least $50.
Combining a zero-down USDA loan with the popular barndominium home type could make your rural living dreams come true. But there are plenty of hurdles to clear.
This guide compares conventional, unconventional, and nontraditional loans, explaining their key differences, eligibility requirements, and pros and cons. By understanding these mortgage options, homebuyers can determine which loan type best suits their financial situation and homeownership goals.
Wondering how young people are affording homes? Often, it's due to a six-figure gift from mom and dad.
