Brandy WoodfolkBrandy Woodfolk is an educator, home business owner, project manager, and lifelong learner. After a less than stellar financial upbringing, Brandy dedicated her schooling and independent studies to financial literacy. She quickly became the go-to among family, friends, and acquaintances for everything finance. Her inner circle loves to joke that she is an expert […]
Have you been thinking of selling your house to buy a new one and not having enough funds? A bridge loan is what you need to have you covered for the entire exercise. Imagine a situation whereby you sell your house at a price that is not enough to pay for your new house. You will need extra funding to buy the new house in such a case. The good news is that bridge loans will have you covered to ensure you buy your dream house. If you need to buy a new home or move to a different house, the question you need to ask yourself is, “what is a bridge loan?”
One of the best ways to invest is to purchase real estate. However, real estate investments can be quite costly. If you want to invest in real estate, you may need to acquire an investment property loan. Acquiring a loan to purchase an investment property can help in many ways.
Purchase-money mortgages are largely utilized by potential home buyers who do not have enough money in the bank for a traditional down payment on a home. And by folks who have bad credit and are unable to get approved for a mortgage through a bank or other lender. Unlike traditional bank mortgages, purchase-money mortgages come with mostly non-negotiable and quite high-interest rates.
Finding a home loan is often a lengthy and involved process, one that requires you to understand things like your credit score, its effect on your acceptance, and much more. While your lender can walk you through these steps and ensure that you are satisfied, you may still find yourself confused about how to get pre-approved for a home loan and what steps are required for each lender.
Can you get a mortgage for land? And if so, what guidelines must you follow? Please read on to learn more about land mortgages and loans. Understanding these factors will make finding one simpler. It will also improve your ability to develop land and create great real estate deals.
There are many different mortgage lenders out there. You need to find the best one for your needs. Many mortgage lenders provide mortgage loans that won’t work for you. Doing your research is important. You should start your search for a mortgage loan by analyzing the lenders out there. You need to know what to look for in a good lender.
At their most basic, collateral loans are any loans backed up by collateral – the stuff of value which lenders can take ownership of if the borrower is unwilling or unable to fully repay the loan in a timely manner. Read on to find out more!
When you get a house mortgage with a down payment that is less than 20%, the lender will require you to buy private mortgage insurance. The same would be true if you refinanced with less than 20% equity. However, mortgage PMI payments can be expensive so it’s best to remove them as soon as you can.
It’s not easy to fund a home remodel project yourself. You might not want to spend your savings on the project. However, home remodels are important for maintaining and improving home value. The more effort you put into your home, the more you get out of it. You should explore the possibilities of using home equity loans for a remodel. This will help you determine if a home remodel can improve your financial situation.
