By admin on August 28, 2010
In an attempt to encourage the revitalization of run down neighborhoods, the Federal Housing Administration began offering a loan program called the FHA 203K Loan program. Under this program, homebuyers can rehabilitate a property using a federally backed loan.
What Is an FHA 203K Loan?
An FHA 203K Loan is a loan that is insured by the [...]
Posted in Music Blog | Tagged 203k, dummies, fha, for, loans
By admin on June 5, 2010
100% mortgages are mortgages that require no deposit, means the loan-to-ratio of the mortgage is 100%. These are sometimes offered to first time buyers, but almost always carry a higher interest rate on the loan. Normally when a bank lends customer money they want to protect their money as much as possible; they do this [...]
Posted in Music Blog | Tagged 100, down, loans, mortgage, or, Understanding, zero
By admin on May 22, 2010
Getting a loan pre-approval from a lender is a quick, easy process. Typically, you fill out a few pages about your financial situation, the bank runs the numbers through a computer approval system, and you’re pre-approved the next day.
So, how do so many people mess it up so badly? Simply put, people lie (either to [...]
Posted in Music Blog | Tagged a, an, application, botch, builder, construction, example, from, home, how, loan, loans, owner, to
By admin on May 15, 2010
With interest rates at a 12-year high and lenders increasing their rates outside the Reserve Bank of Australia (RBA) cash rate cycle, many borrowers are understandably feeling wary. The cash rate is Australia’s official interest rate and usually lenders only move mortgage rates in synch with it, but this hasn’t been the case over last [...]
Posted in Music Blog | Tagged australian, home, lending, loans, market, todays, up, whats, with
By admin on April 21, 2010
When it comes to financing or re-financing a home, families with stay-at-home moms may have difficulty based on the fact that one spouse has little or no visible income.
This leads some financiers to try and swing loans or re-finances that are easier to approve initially, but may be detrimental to the homebuyer in the long [...]
Posted in Music Blog | Tagged and, equity, financing, home, loans, refinancing
By admin on April 9, 2010
Owner Builder construction is a great way to build instant equity into your new home by eliminating the costs of a general contractor. In fact, cutting the overhead of a licensed general contractor can save an owner builder anywhere from ten to thirty percent on construction costs. That’s tens of thousands of dollars in instant [...]
Posted in Music Blog | Tagged builder, construction, imperatives, loans, owner, the, Three
By admin on March 31, 2010
Owner builders save themselves a lot of money by managing the construction of their homes and cutting out the costs of a general contractor. However, for owner builders who have never built before, there is a very important lesson to learn about the owner builder loan timeline before getting too far into the planning process.
Owner [...]
Posted in Music Blog | Tagged a, builder, for, in, lesson, loans, owner, time
