Hispanic Heritage Month is an annual celebration in the U.S. that honors the rich history, diverse cultures, and significant accomplishments of the Hispanic community. From September 15th to October 15th, educational events and cultural celebrations take place all over the country.
PMI is private mortgage insurance that is required by your lender on Conventional loans – most often, it’s required by when a borrower puts down less than 20% as a down payment on their new home.
The main commonality between USDA and FHA loans is that they are both backed by the federal government. This means that they are guaranteed by their respective government agencies against default.
Each loan has its benefits. FHA loans are easier to qualify for, but a Conventional loan is likely to be less expensive if you qualify.
Assumable loans allow potential homeowners to take over the previous homeowner’s mortgage directly when buying a house, benefiting both the buyer and the seller.
Purchasing a foreclosure with an FHA loan can be a great way to save money on a property that has the potential to become your home for many years or a great investment for the future.
How much entitlement you have is also the deciding factor in how much you can borrow while still not being required to make a down payment, one of the main benefits of using a VA loan to buy your home.
The benefits associated with fully paying off your 30-year fixed-rate mortgage can help you focus on other outstanding debts you may have, things you’d like to experience, or a savings account you’re working on adding funds to.
Whether it’s a fixer-upper or a turn-key house, buying your first home is a momentous event. From the down payment to closing costs, furnishings, utilities and taxes, knowing what expenses first-time homeowners can expect will help you prepare yourself for the committed investment of homeownership.
The holiday Cinco De Mayo, translated to English as the Fifth of May, has a rich and dynamic history in the United States as a celebration of Mexican culture, heritage, and the empowerment of oppressed peoples.