What should homeowners understand before taking out a home equity loan? A home equity loan is one way of taking equity out of your home. It may not be the best way, depending on what your interest rate is on your first mortgage and what the closing costs will be. You always need to figure out if the total payments […]
What should homeowners understand before taking out a home equity loan? A home equity loan is one way of taking equity out of your home. It may not be the best way, depending on what your interest rate is on your first mortgage and what the closing costs will be. You always need to figure out if the total […]
What questions do homeowners need to consider before refinancing? Homeowners should consider these questions: What should homeowners look for when comparing refinance offers? They need to look at the interest rate to see if it is fixed or adjustable. What are the total refinancing costs, including points, underwriting, processing fees, third-party fees (IE appraisals), title, attorney fees, etc.? They should […]
Most if not all construction loans require 20% down. There are look alike construction loans That follow conventional, FHA, USDA & VA guidelines. This means you could build a home with zero money down if you are a veteran or qualify for a USDA loan. Conventional construction loans will allow 5% down payment. FHA construction loans will allow 3.5% down […]
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