All the information you need to buy a home.
You can simultaneously hold licenses as a real estate agent and a mortgage loan officer in Illinois. You can also be the agent and the loan officer in the same transaction under..
"Occupancy" refers to how you will use the property you plan to buy. Will it be your principal residence, second home, or investment property? Whether or not you will live there..
You can use your credit card to pay some of your closing costs when buying a home. But there are limits. I'll give you the details in this article.
In this article, I'll explain the mortgage contingency, show you where to find it in a real estate contract, and tell you why you need to know about it when buying a house. First,..
As a co-signer, you've committed to another person's financial obligation to the loan. You probably co-signed a car loan, student loan, or mortgage to help out a friend or..
Sellers can pay the buyer's closing costs. A seller credit is a sum of money the property seller agrees to give the homebuyer at closing. The buyer can use the credit to pay..
Like stock prices, mortgage interest rates constantly change. By locking in, you freeze the lender's rate and origination charges. As a result, you know how much your loan will..
If you're considering buying a home, you should know you have choices regarding a down payment. The popular belief is that homebuyers need 20% of the property's purchase price...
In this article, I'll explain how to get approved for a mortgage to buy a home while waiting for the United States Citizenship and Immigration Services (USCIS) to decide on your..
Multi-family, 2-to-4-unit homes are affordable and surprisingly easy to buy.
All Federal Housing Administration (FHA) loans require mortgage insurance. Homebuyers pay two types of mortgage insurance when purchasing a home using an FHA loan. First, you pay..
With careful planning, you can use the future rental income you'll collect from your departing residence to get approved for a mortgage to buy a new home. I'll explain how in this..
Getting a mortgage and buying a home while working for a state-legalized marijuana business can be challenging due to the legal issues surrounding the cannabis industry.
Real estate transfer taxes are fees that the state, counties, and local municipalities charge buyers and sellers when transferring property ownership. Use our real estate transfer..
When buying a home, you must purchase a homeowner's insurance policy that meets the lender's requirements. Homeowner's insurance protects you and the lender in an accident or..
Debt-to-income (DTI) is a measure that compares your debt to the income you receive. Mortgage lenders use this ratio to determine how much you can afford to pay for a home loan. A..
An FHA loan is a good option for financing the purchase of a multi-unit property. However, 3 and 4 unit properties must be self-sufficient. This means the property must have a..
Loan-to-value (LTV) ratio is a measure that compares the amount of the mortgage loan to the value of the property. Lenders use it to determine the risk of lending you money for a..
Because the APR represents the overall cost of your mortgage, it should make it easier for you to compare loan offers to find the best deal on your mortgage. However, APR can vary..
When applying for a mortgage, the first question on the mortgage application is, "what is the loan's purpose?" You have two options, purchase or refinance. I'll explain how the..
In this article, I’ll show you how to quickly read and understand the Certificate of Eligibility (COE). This information will make it easy to see if you’re eligible for a VA loan..
If you work for a staffing agency, you might need help buying a house. Most banks won't use your staffing agency income to approve your mortgage. And, unfortunately, without a..
As a homeowner, you know that owning property is a stellar way to build wealth over time. But if you’re interested in expanding your homeownership with a rental property, we’ve..
Owing federal tax debt makes it harder to get approved for a mortgage, but it’s not impossible to get a home loan with this debt factored in. With careful planning, you can still..