Purchasing your first rental property is a big step in your real estate investor journey. Aside from choosing a potentially profitable property, you need to figure out how to finance your rental.

Before sharing how to apply for an investment loan, let’s look at how a primary home mortgage differs from a rental property mortgage.

The Difference Between a Mortgage for a Primary Home and a Rental

On the surface, a mortgage for a rental may look similar to a mortgage for a primary home since the application process is the same. However, there are different rules and guidelines lenders follow when you apply for a mortgage on a rental property.

Larger Down Payments

For a primary home, you can make as little as a 3% down payment in some

If you are looking to buy a home but are worried that you can't afford monthly payments, why not consider a foreclosure as your first home?

A foreclosed home is usually owned by a bank or lender and sold at prices way below its market value. Who knows, you may just hit the jackpot by purchasing a residence that would have been out of your price range. 

Here are the top reasons you should consider foreclosed properties as a first-time buyer.

How Buying a Foreclosure Works

A foreclosure happens when a borrower fails to pay their monthly payments. The lender then exercises his right to seize the property and resell it to recover or reduce its financial losses.

Foreclosed properties are usually put up for auction, which means that lenders

Reverse mortgages have helped countless senior homeowners convert a portion of their home equity into much-needed cash to provide added income during retirement.

This type of loan offers many advantages for seniors, and it’s no surprise that many have been applying in recent years. If you think a reverse mortgage is right for you, contact us today for complete information and the latest reverse mortgage rates.

One of the reasons why reverse mortgages are attractive is that they allow borrowers to retain ownership and live in their homes as long as they remain in good standing with their lender. Seniors also love that they don’t have to pay a monthly mortgage while still getting the cash they need for retirement. 

However, there are cases

Buying a second home is a dream come true for many. Whether it’s a retirement home, a vacation home, or your first step toward real estate, investing in a second property is a notable achievement in your portfolio. Like a first-time home purchase, a second property requires a down payment, and many consider using their home equity as seed money for funding the investment.  

The short answer to whether you can use your home equity to buy another home is yes, you can. Let’s look at the whole process to see how this works.

Steps For Getting a Home Equity Loan To Buy Your Second Home

1.) Determine How Much You Need

Before using your equity to buy your second home, determine how much you need for the down payment and closing costs. Next,

Owning a home is still very much a part of the American dream. However, did you know that non-U.S. citizens can also enjoy this? While there are challenges to homeownership if you are not a citizen, know that lenders are open to extending credit to non-citizen homebuyers.

Let's look at how you can qualify for a home loan even when you are a foreigner residing in the U.S.

Residency Status

Permanent residents with green cards have a better chance of getting a loan since they represent less risk for lenders due to their immigration status, which indicates they are in the country for the long haul.

Nonpermanent residents may encounter more challenges getting approved since their ability to work in the U.S. is tied to their visa. However,

A home purchase is one of the biggest investments you can make so adding a layer of protection against property ownership issues makes sense. That’s where title insurance comes in. As a quick refresher, a “title” serves as proof that you are the owner with rights to the property. Read along to find out how title insurance works and why it is vital in a home purchase.

Why do you need title insurance on your new home?

Title insurance is meant to protect home buyers and lenders from any damages or losses due to a “bad title”. A title can become “bad” due to code violations, back taxes, liens, and conflicting wills. Another common situation where after the sale of a property, it turns out that the seller does not have any legal claim to it or the

Dreaming about your first home purchase but still be undecided on whether to choose an FHA loan or conventional loan? While both are popular choices for those looking for a low down payment, some differences may make one loan a better option than the other. 

This article will give you an idea of how they differ and give you insight as to which loan may work best in your situation.

What is an FHA loan?

An FHA loan is insured by the Federal Housing Administration. Lenient qualifications make it a good choice for those with lower credit scores and those with limited funds for the down payment. 

What is a Conventional loan?

On the other hand, conventional loans are not insured by a government agency and have qualifying terms set by