Lower down payment: Traditional mortgages often require at least 5% down. If you’re buying a $300,000 home, that means you have to come up with $15,000. On the other hand, FHA loans require as little as 3.5% down. For borrowers who may not have funds to put towards a large down...
Yes, an FHA loan is just like any other loan. It must be paid back by the terms agreed to at the time of closing. What is FHA Financing? Buying a home or taking out a first mortgage can be an exciting time in one's life. There are many things to know about the process, includi...
Jumbo loans are required when the loan amount in question exceeds certain guidelines or loan limits set by the government. If you’re hunting for luxury homes, looking at houses located in ritzy zip codes, or need to refinance an existing home loan with a large balance, then a jumbo loan ...