Financing a Home

Pre-Approval Letter Sample + Do’s and Don’ts

What is a Pre-Approval Letter? A pre-approval letter is a document that states the loan amount a lender is willing to make to a borrower. It is not a guarantee to lend, but it carries significant weight, especially to other parties in a real estate ...

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Conventional 97 Loan Guide

What is the Conventional 97 Loan Program? Conventional 97 loans are a type of low down payment mortgage for first time home buyers. Borrowers only need to come up with a 3% down payment, which then creates a mortgage balance of 97% loan to value ...

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VA Approved Condos: Here's What You Need to Know

What Are VA Approved Condos? VA approved condos include any townhouse or condominium unit within a VA-approved project. The word project refers to all the individually-owned condominium units plus the common areas combined. The VA puts a stamp of ...

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FHA Approved Condos: Here's What You Need to Know

What are FHA Approved Condos? FHA approved condos meet property eligibility requirements set by the US Department of Housing and Urban Development (HUD). Condominium associations must apply to have their condominium project (the condo complex) ...

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FHA 203k Loans: Everything You Need to Know

What is an FHA 203(k) Loan? FHA 203k loans provide flexible home financing to purchase or refinance a home while simultaneously funding its renovation. It’s an all-in-one program, rolled into a single FHA-insured mortgage. It’s used for ...

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