Are there any loans that don’t require a down payment? USDA and VA loans do not require a down payment. Read Full Article Share FacebookTwitterLinkedIn
What is the typical down payment for a mortgage? A down payment is the initial payment by the borrower on the loan, which is due at closing. In most cases, lenders require at least 5% to 15% down, although the standard is usually 20%. If you put down less… Read Full Article Share FacebookTwitterLinkedIn
What is a USDA loan? A United States Department of Agriculture (USDA) loan refers to a government loan for home buyers to purchase homes in rural or low-population areas. Read Full Article Share FacebookTwitterLinkedIn
What is an FHA loan? A Federal Housing Administration (FHA) loan is a low down payment option that’s ideal for borrowers who may not otherwise qualify for a mortgage or borrowers with less-than-perfect credit. Features of the loan include a fixed or adjustable rate, limited… Read Full Article Share FacebookTwitterLinkedIn
What is VA loan? The U.S. government offers different types of loan to those who qualify. Loans from the U.S. Department of Veterans Affairs (VA) are available to qualified members of the armed services and typically have more favorable interest rates and conditions. Read Full Article Share FacebookTwitterLinkedIn
How do I know how much equity I have in my home? Equity refers to the current market value of your home minus the total amount you owe on your mortgage. Read Full Article Share FacebookTwitterLinkedIn