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Understanding the difference between closing costs and down payment and how they vary between VA, FHA, and conventional loans can help you figure out how much money you need to save for your purchase. Let’s look at some information about…
An FHA loan is a type of mortgage that is insured by the Federal Housing Administration (FHA). This type of loan is popular among first-time homebuyers, buyers with lower credit scores, smaller down payments, or higher debt ratios. In addition…
If you are using gift funds for a down payment on a home purchase and the requirement for gift funds increases after your bank account has decreased, you may need to provide additional documentation to meet the new requirement. The…
If you have been shopping around for different mortgage options, you’ve likely come across the FHA Loan. This mortgage is administered by the Federal Housing Administration. It allows home buyers to purchase a home with a low down payment, often…
