Teacher home loans come in all shapes and sizes, and many can save you money up front or over the long term. There are at least four federal government programs that help teachers find and buy a home, and many other private ones. You give a lot to your community, and it makes sense...
Home equity loans Similar to a HELOC,home equity loansuse your home’s equity as collateral but function more like a traditional loan with fixed payments over a set term. Social Security income can be used for qualification, but a good credit history and a low debt-to-income ratio are usua...
› What are the different types of home loans? › How to choose the right types of mortgage loans for you If you are interested in purchasing a home, there is a good chance that you will have to take out a mortgage. Not a lot of people can purchase a home with cash, but thank...
VA loans areavailable to military veterans and their families with no down paymentrequired, and theU.S.Department of Veterans Affairs does not require mortgage insurance— just a one-time, upfront funding fee. On top of that, VA loans tend to have some of the best mortgage rates — which...
Conventional lenders do add a private mortgage insurance premium (PMI) each year but no upfront fee. This annual PMI rate varies by borrower and won’t be charged on loans with 20% or more down. How USDA loans compare to FHA loans ...
Upfront fees on Fannie Mae and Freddie Mac home loans changed in May 2023. Fees were increased for homebuyers with higher credit scores, such as 740 or higher, while they were decreased for homebuyers with lower credit scores, such as those below 640. Another change: Your down payment will...
Can you take out a home improvement loan with no equity? Unsecured personal loans don’t require you to haveequity in your home. Other home improvement loans, such as home equity loans and HELOCs, often require a 15% to 20% loan-to-value (LTV) ratio, i.e., the value of your prope...
I don't have a lot of money for a down payment. FHA I want a home with a price that exceeds the conventional loan limit. JUMBO I want to live in a rural area. USDA I am a Military Veteran or am actively serving. VA LOANS I want to buy a house that needs some repairs. RENOVATI...
While FHA loans have some great perks, they come with costs other mortgages may not have. No matter how large your down payment is, all FHA loans require an upfront mortgage insurance premium (UFMIP) that is 1.75% of the loan amount and an annual premium based on your loan-to-value (...
Home Loans Whether you're buying your first home or you want to access your equity in retirement with a reverse mortgage, Primacy Mortgage offers a loan program to fit your needs. We help buyers and homeowners choose the right type of mortgage for their needs with competitive rates on fixed...