How To Apply for an FHA Loan

How To Apply for an FHA Loan

An FHA loan is a type of home loan that’s insured by the Federal Housing Administration (FHA). These types of loans are particularly popular with first-time homebuyers, as they only require a minimum down payment of 3.5 percent and a minimum credit score of 580. If...
What Do Mortgage Lenders Look At?

What Do Mortgage Lenders Look At?

A mortgage lender is any financial institution that offers home loans. For most first-time homebuyers, mortgage lenders are synonymous with the home buying process. This is because most potential homeowners don’t have the cash on hand to purchase a home in full. There...
Can Your Credit Score Affect an FHA Loan?

Can Your Credit Score Affect an FHA Loan?

FHA loans are one of the most popular loans for homebuyers because they have various benefits such as: Having low requirements Being insured by Federal Housing Administration (FHA)  Lower down payments (allowing you to borrow up to 96.5% of the home’s value)  But can...

What is PMI/MIP?

Mortgages have been around since the late 1800s and they were primarily made by your local banker; the vast majority of these loans were 1–5-year terms with 50% down and your rate was rarely fixed. That all changed in 1934 when the government got involved and created...
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