What Can An FHA 203k Loan Be Used For?

What Can An FHA 203k Loan Be Used For?

The question of what the FHA 203k loan can and cannot be used for is pretty easy to answer. And we hear it a lot. In fact we often hear: “Well, can I use the 203k for ___?” Sometimes it’s an easy answer. Yes, you can use the 203k to finance a kitchen...
Amortization

Amortization

Adjustable Rate Loans 5/1 ARM • 7/1 ARM • 10/1 ARM An adjustable rate mortgage (ARM) is a mortgage loan where the interest rate on the note is periodically adjusted based on a variety of indexes. Among the most common indexes are the rates on 1-year constant-maturity...
Government Loans

Government Loans

FHA Loans The Federal Housing Administration was created in 1934 in an effort to bolster homes sales during the Depression. By financially guaranteeing loans, the FHA lifts much of the risk of non-payment and foreclosure from private lenders. It is important to...
Five Steps To Get A Mortgage

Five Steps To Get A Mortgage

Purchasing a home can be exciting as well as frightening. Below are the steps it takes to find and get a mortgage. Step by step, it is as easy as one, two, three, four, five! Step 1. The Pre-Qualification Process This is an excellent time to begin the...