Do I have to disclose a parent’s gift to the lender?
Lenders prefer that you do. But relax, you are not penalized in any way for receiving parental help. An estimated ...
Does the federal government offer home improvement programs?
Yes. Among the most popular: Title 1 Home Improvement Loan. HUD insures the loan up to $25,000 for a single-family ...
How can I finance work needed for home repairs?
According to the Millennial Housing Commission created by Congress, few lenders are willing to administer home improvement loans. Most prefer ...
Is private mortgage insurance always required on low-down payment loans?
Lenders require private mortgage insurance (PMI) on most loans with less than a 20 percent down payment. They believe there ...
Do builders provide financing?
Many builders offer financing incentives to help move more buyers into a project. In fact, major building companies often have ...
How can Fannie Mae help homebuyers?
The Fannie Mae Community Home Buyers Program lets first-time buyers with little cash obtain 95 percent financing. Borrowers may put ...
Can you tell me more about FHA and VA?
The Federal Housing Administration (FHA) is an agency within the Department of Housing and Urban Development (HUD). Its main goal ...
Do government programs exist that can help me finance a home?
Yes, although many are designed to assist first-time homebuyers, generally defined by lenders as people who have not owed a ...
What are subprime loans?
Subprime mortgages are made to borrowers, usually at a higher interest rate, who do not meet traditional credit criteria or ...
What is private mortgage insurance?
Also referred to as PMI, it is insurance you pay to protect the lender in case you default on the ...
4 Hidden Costs of Homeownership Clients Should Understand
As your client’s guide to the process leading to homeownership, it’s your responsibility to make sure they know what they’re getting into from a financial perspective. Read more.
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