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Are FHA Loans Right for You?

Does it seem like you’ll never be able to achieve homeownership? Don’t give up hope. The Federal Housing Administration (FHA) Loan Program is designed to assist homebuyers with low down payments and affordable closing costs. It is a government-backed loan program implemented by the U.S. Department of Housing and Urban Development (HUD). HUD insures loans in urban and rural areas for owner-occupied single family homes, excluding investment properties. 

Tips for Buying a Home

The decision to buy a home is a big one that many admire. Moreover, the achievement associated with buying a home is often referred to as the American Dream. However, the initial steps that lead to homeownership may seem overwhelming. For that reason, we have put together some helpful tips that may save you time and help you prepare for the mortgage process.

Why Buy Instead of Rent?

The decision to rent or to buy a home is one of the biggest financial decisions you’ll make in your life. There are people on both sides of the renting versus buying debate, but ultimately you’ll need to decide what the best fit is for you and your lifestyle. We will walk you through some misconceptions often associated with the buying versus renting debate. That way you can make an informed decision as to where you stand.

Are Conventional Loans Ideal for You?

There are many important decisions to make during the mortgage process. One of these decisions regards which home loan you will choose to use. One of the most common mortgage loans used is the Conventional Loan, which is the loan option of choice for a majority of all mortgage applicants.

What is a Credit Report?

A credit report is a detailed report of your credit history that a lender uses to determine your creditworthiness. It shows your financial history with specific focus on your ability to repay borrowed money.

Conventional Loans or Government-Backed Loans?

There are many important decisions to make during the mortgage process, but one of the more notable choices involves knowing the difference between using a conventional or government-backed loan. So what exactly do these terms mean, and how do they impact the specific type of loan you choose?

Well, it is important to start off by noting that the main difference between conventional and government-backed loans is the way in which the loan is insured.