If you are selling or refinancing, the lender will have your home appraised. It’s different from a home inspection. A home inspector is primarily preoccupied with the internal workings of a home and looks for current problems or things that could become a problem. An appraiser is trying to determine the value of your home, comparing it […]
FHA loans can be great deals for families with smaller down payments and for people in very high-cost housing areas. In fact, in areas where real estate is expensive, borrowers can take FHA mortgages for as much as $$636,150, but the limits vary from place-to-place. One of the differences between conventional and FHA loans is the required […]
Here is a news release we saw on Housing Wire a few minutes ago: Both government-sponsored enterprises officially announced their individual 97% loan-to-value products, in the government’s latest attempt to expand the credit box for first-time homeowners. Back in October, the Federal Housing Finance Agency announced a number of policy steps aimed at increasing mortgage […]