FHA 203K Loan – Benefits of FHA Home Improvement Loans

In recent studies, home ownership rates have increased steadily because of the implementation of the FHA home loans. Purchasing homes has been made easier because of this benefit. Through the years, FHA has assisted Americans to gain their rights in owning the homes that they want. Reasonable mortgage rates for middle class, producing housing for the elderly and those with low income, and financing military housing are only a few… Read More »

FHA 203K Loan Makes Financing a Home in Need of Repairs Simple

The FHA 203K loan is a type of financing that is insured by the Federal Housing Administration. It is a unique type of financing that allows homeowners to obtain both a purchase loan and rehabilitation financing in the same transaction. Before this transcendent loan program, a homeowner had to obtain an initial, temporary loan to purchase the home and a separate rehabilitation home loan to make any necessary repairs. Only… Read More »

Move In With an FHA Loan

FHA mortgage loans are among the easiest for borrowers to qualify for. If you are seeking a mortgage but your credit is less than perfect, you should definitely consider an FHA loan – It may be much easier for you to qualify and can save you a lot of money as well. Private financial institutions fund FHA Loans however they are backed and insured by the Federal Housing Administration or the ‘FHA’.… Read More »

Primer on the Difference Between an FHA Loan and a Regular “Conventional” Mortgage Loan

It is in every borrower’s best interest to understand the difference between a Conventional and an FHA loan, especially if they owe more than 80% of their home’s value or are interested in purchasing a home with less than 20% down payment. First FHA will allow a borrower who wants to refinance, or purchase a home, the opportunity to borrow up to 96.5% of their home’s value. This is also… Read More »

FHA 203K Rehab Loan – From Handyman Special to Dream Home

An FHA 203K loan allows a home buyer to compete with the real estate investor. This loan allows for repairs to a property that generally would not qualify for financing due to property condition. This is a very popular loan for the budget conscious home buyer in New Jersey. There are 2 types of FHA 203K loans. The full “K” and streamline “K.” A property that needs structural repairs or… Read More »

VA Loans Or FHA Loans – What is the Best Home Loan Option For Veterans?

VA and FHA Loans are both great federal backed mortgage programs. When comparing the two federal home loan programs, it’s only natural to wonder which one might be right for you. There are obvious distinctions between military and FHA mortgages. Loan limits, qualifying requirements, down payments and fees can all vary between the two programs. Determining whether VA or FHA is the appropriate loan for a specific situation involves weighing… Read More »