But what is a hard money lender? Hard money lenders offer loans based primarily on the value of the property being purchased or used as collateral. This approach can help borrowers secure financing when traditional lenders hesitate or take too long. Whether you’re a seasoned real estate investor or exploring property financing for the first…
Author: Bill Lyons
Bonus Depreciation for Real Estate: What It Is & How It Works
Understanding the concept of bonus depreciation and its practical application can help you capitalize on this opportunity and determine if investing in real estate now is a good time. So, what is bonus depreciation, and how does it affect you as an investor? Keep reading to learn more about bonus depreciation and how it works. …
No Doc Business Loans: What You Need to Know
While “no doc” is short for “no documentation,” there are actually no true no doc loans. Instead, they’re low doc loans that require minimal paperwork for loan approval. This approach caters to the needs of business owners who may face challenges in providing the extensive financial documentation required by traditional lenders, such as tax returns,…
BRRRR Method: Buy, Rehab, Rent, Refinance, & Repeat
Read on to learn more about BRRRR loans and explore how this approach can open doors to lucrative opportunities. What Is the BRRRR Method? BRRRR stands for buy, rehab, rent, refinance, and repeat. The BRRRR real estate investment method is a strategy investors use to build a real estate portfolio and maximize returns by following…
How Does Mortgage Interest Work?
First-time and even seasoned home buyers typically ask their mortgage lender many questions during the home buying process, such as “What is the interest rate on a mortgage?” and “What factors determine mortgage interest rates?”. Fortunately, the experts at Griffin Funding can help answer these questions and more. Let’s take a deep dive into how…
How to Use a Self-Directed IRA for Real Estate?
Offering you the best of both worlds, a self-directed IRA for real estate, or SDIRA, offers the preferential tax treatment of an IRA with the flexibility and autonomy to invest in real estate opportunities. Whether you want a fix-and-flip property, a long-term rental opportunity, or a short-term vacation rental solution, a self-directed IRA for real…
What Is High-Net-Worth Lending?
That is exactly what high-net-worth lending is. It includes a more personalized level of service that is often customized to someone’s entire financial life. Not only do these types of loans usually come with lower interest rates when compared to traditional ones, but they also have longer repayment periods. This guide will cover high-net-worth lending…
5-8 Unit Commercial Multifamily Financing
In this article, we’ll discuss 5-8 unit commercial multifamily financing, exploring the unique opportunities associated with this niche real estate market. Whether you’re a seasoned investor looking to expand your portfolio or a newcomer exploring the potential of commercial multifamily properties, understanding multifamily financing is crucial for making informed decisions. Keep reading to learn more…
What Does Homeowners Insurance Cover?
This insurance serves as a safety net, offering financial protection in the face of unforeseen events that could damage or destroy your home. Understanding what homeowners insurance covers is essential for any new homeowner, as it provides peace of mind and shields against the financial consequences of unexpected events, from natural disasters to theft or…
ADU Loans: How to Finance an ADU
In this article, we’ll explore various methods and loans for financing ADUs to help you capitalize on this growing trend. What Is an ADU? An ADU is a secondary living space located on the same property as the primary residence. Also known as an in-law suite, ADUs are separate living quarters equipped with the same…
Prepayment Penalty on a Mortgage: What to Know
One significant hurdle that borrowers may encounter is a prepayment penalty, which is a fee that’s triggered by paying off your mortgage early. While the idea of settling a debt ahead of schedule may seem like a smart financial move, lenders often include prepayment penalty clauses in mortgage agreements to protect their interests and ensure…
Contingent vs Pending: What Does It Mean in Real Estate?
Knowing the differences between contingent vs. pending is crucial, as it can help you understand how close a property is to being sold. These terms can give you important clues about a property’s journey, guiding your expectations as you navigate the process of finding your dream home. Keep reading to learn more about contingent vs…
Origination Fee: What Is a Mortgage Origination Fee?
So, what is an origination fee? In this article, we’ll discuss what a mortgage origination fee is, how it impacts your loan, and how you can keep your costs down. What Is a Loan Origination Fee? A loan origination fee is a charge imposed by a lender for the administrative costs associated with processing a…
Why Should I Buy a House?
Beyond the practical necessity of having a place to call home, purchasing real estate is often viewed as a symbol of stability and achievement, signifying a step toward a more rooted and secure future. The decision goes beyond the transaction of buying property and entails an evaluation of priorities, lifestyle choices, and the desire to…
Refinance an Investment Property: What to Know
In this article, we’ll discuss the key benefits and considerations associated with refinancing an investment property. From evaluating your options to the loan process, we’ll provide you with the knowledge and insights you need to make strategic decisions that align with your investment goals. 8 Reasons to Refinance an Investment Property When you first start…
What Is an Assumable Mortgage? Assumable Loans Explained
An assumable mortgage is when the buyer takes over, or “assumes”, the seller’s home loan. Some considerations must be taken into account to understand how assumable mortgages work. The seller and buyer must both agree to consider and negotiate an assumable mortgage. Buyers must consider the lender’s requirements and specific loan qualifications once the seller…
How to Build a Real Estate Portfolio
From understanding the fundamentals of real estate investments to setting clear financial goals, each element contributes to the overall success of your real estate portfolio. Whether you’re a seasoned investor seeking expansion or a beginner eager to tap into real estate, this guide will provide insights into the key factors that shape a thriving real…
1031 Exchanges: Definition, Rules, & What to Know
So what is a 1031 exchange in real estate? While the concept of a 1031 exchange might sound appealing, its intricacies and the associated rules require a thorough understanding to harness its full potential. In this article, we’ll discuss the fundamentals of 1031 exchanges, including the rules and regulations governing them. Whether you’re a seasoned…
Types of Real Estate Investments: Residential, Commercial, and More
For the new investor, the variety of real estate investment options can be overwhelming. Residential properties, commercial spaces, raw land, REITs — each type of investment has unique challenges and rewards. Knowing where to invest, when, and how to manage the investment can be the difference between a lucrative venue and a costly mistake. However,…
15 Questions to Ask a Mortgage Lender
Purchasing a home is one of the most significant financial decisions most people make in their lifetimes. With the wide availability of mortgages and various options among lenders, the process can be exciting and overwhelming, even if you’ve purchased a home before. It’s crucial to know what questions to ask a mortgage lender to ensure…
How Does a Home Equity Loan Work?
One of the most popular ways to access your home equity is to use a home equity loan (HELOAN). Home equity loans are structured as second mortgages, but they can be especially beneficial for homeowners looking to finance large expenses. Since the loan is secured by the home itself, HELOANs often come with lower interest…
Tax Haven: 9 States With No Income Tax
Many corporations and individuals strive to maximize their money by avoiding paying local and federal taxes. A tax haven is a jurisdiction known for offering minimal tax liabilities, like states without income taxes. While often associated with far-off islands, the concept of a tax haven is also relevant in the US. Some large businesses and…
Short-Term Mortgages
The right mortgage program can help you save money while paying off your debt. While 30-year mortgages are the most common, they’re not your only option. Some borrowers may prefer a short-term mortgage that allows them to save on interest payments and pay off their home in a shorter amount of time. Unfortunately, short-term mortgages…
Is Refinancing for Home Improvements Worth It?
Your home isn’t just where you live—it’s an investment. As with any asset, the goal is to enhance its value over time. Refinancing for home improvements allows you to channel new funds into home renovations or upgrades to increase its value, allowing you to sell it for more in the future. In the past couple…
Can You Refinance an Adjustable Rate Mortgage (ARM) Loan?
The adjustable-rate mortgage (ARM) is characterized by its variable interest rates that shift with market conditions. Initially, ARM loans often come with lower interest rates than fixed-rate mortgages, making them an appealing choice for many homebuyers. However, as time goes on and initial rate periods expire, homeowners with ARMs might face fluctuating interest rates, resulting…
Average Home Appreciation Per Year
When considering homeownership, many people think beyond the immediate shelter and security of a home and lean into its potential as an investment vehicle. Over the years, real estate has proven to be a cornerstone of many wealth-building strategies and a tangible asset that carries emotional and practical value. The dynamics of the housing market,…
When Is Your First Mortgage Payment Due?
Understanding your mortgage can be challenging, especially if you’re a first-time home buyer. Among the many details to consider, understanding when your first mortgage payment is due is crucial to budgeting and overall financial planning. If you’re wondering, “When is my first mortgage payment due,” you’ve come to the right place. In this article, we’ll…
Fair Market Value (FMV) Explained
When buying or selling a house, you’ll often hear the term “fair market value” or FMV. This concept plays a crucial role in shaping the dynamics of real estate transactions. FMV helps sellers understand the right price point to list their property to ensure it’s neither overpriced nor undervalued. On the other hand, buyers use…
Dry Funding States: What States Allow Dry Funding in Real Estate?
How funds are handled in real estate transactions varies based on various factors, including location. Understanding these differences, such as the concept of dry funding, can help you streamline the buying or selling experience. Different states have adopted either a wet or dry closing practice, impacting the timeline and mechanics of closing procedures. As you…
Understanding Notice of Default: How to Respond to a Default Notice
Homeownership is a significant investment. Like all major financial commitments, you’ll have several responsibilities when you own a home, primarily keeping up with mortgage payments. Due to unforeseen circumstances, such as job loss, medical emergencies, or other financial hardships, homeowners may struggle to make timely mortgage payments. In these situations, they might encounter terms like…
Reverse Mortgage Pros and Cons
A reverse mortgage allows homeowners over the age of 62 to leverage their home’s equity without selling or moving. These loans offer seniors a method of supplementing their retirement income, paying for medical expenses, or undertaking home improvements. Instead of the homeowner paying the lender like a traditional mortgage, in a reverse mortgage, the lender…
How to Buy a House Without a Realtor
For many, the home-buying journey is accompanied by a realtor who acts as a guide, offering expertise on market conditions, property evaluations, and negotiations. Realtors have a depth of knowledge and experience and can provide invaluable support when buying a house. However, many buyers may walk this path solo and forgo the conventional route of…
Understanding Mortgage Forbearance
When unexpected events happen, homeowners might face difficulties in making regular mortgage payments. One tool at their disposal during unforeseen financial crises is mortgage forbearance. But what is the meaning of mortgage forbearance, how does it work, and who qualifies? There are various safety nets that ensure unexpected events don’t immediately result in the loss…
The Four Types of Non-U.S. Citizen Mortgage Loans
Navigating the world of mortgages can be complex, especially if you’re a non-U.S. citizen looking to purchase property in the United States. Various factors come into play, such as visa status, residency, and the property’s intended use. Can a non-U.S. citizen get a mortgage loan? Thankfully, specialized mortgage loan types are tailored to accommodate non-U.S.…
Qualifying for a Mortgage: What You Need to Know
Homeownership is a dream for many, symbolizing stability, investment, and the creation of lasting memories. However, before you can pick up the keys to your dream home, there’s a significant hurdle to overcome: securing a mortgage. For many aspiring homeowners, the mortgage application process can seem daunting, filled with jargon, paperwork, and numerous financial checks.…
How to Buy and Sell Houses at the Same Time
Buying and selling a house at the same time is a delicate balancing act that requires impeccable timing, strategic planning, and a deep understanding of the real estate market. At first glance, it might seem like juggling two massive transactions at once would be complicated. However, with the right approach, it’s possible to sell and…
VA Approved Condos: Everything You Need to Know
As a veteran seeking to become a condo owner, it’s vital to understand the VA condo approval process. Not all condominium projects are automatically eligible for a VA purchase loan. Specific requirements need to be met in order for condo project approval. The condo you wish to purchase needs to be on the VA-approved condo…
What Does a Mortgage Broker Do?
Finding the right lender and loan program can be a daunting experience for home buyers. A mortgage broker who acts as an intermediary between lenders and buyers can help guide you through the mortgage process and secure the most favorable loan terms. A mortgage broker’s role goes beyond facilitating the mortgage transaction. They understand a…
Freddie Mac vs. Fannie Mae: Key Differences Explained
Fannie Mae and Freddie Mac are government-sponsored entities (GSEs) that play pivotal roles in maintaining the mortgage market’s liquidity, stability, and affordability. By purchasing and guaranteeing mortgages from lenders, these entities ensure funds are consistently available for individuals wanting to buy homes, refinance their mortgages, or tap into their home’s equity with home equity loans.…
Understanding Capital Gains Tax on Real Estate and Property Sales
When you sell your property, you’ll be subject to various tax implications. A capital gain is the rise in value of an asset compared to its original purchase price. When the asset is sold, the profit earned from that sale is subject to capital gains taxes. Homes are significant investments, so understanding what happens after…
How to Beat A Cash Offer on A House: 7 Strategies for Homebuyers
Cash offers are often seen as the gold standard in a competitive housing market, as they typically mean fewer contingencies and a faster closing process. For many homebuyers, competing with a cash offer can feel like an impossible hurdle because they eliminate the uncertainties of mortgage approvals and often expedite the entire process. While a…
Are Home Warranties Worth It?
Every homeowner knows the peace of mind that comes with insuring their property. However, beyond the typical homeowner’s insurance, you may want to consider another type of coverage—the home warranty. Unlike homeowner’s insurance, a home warranty is a service contract that covers repairs and replacements of major appliances and home systems that break due to…
Easement by Prescription: What Is It & How Does It Affect You?
When you apply for a home loan, lenders do a title search to uncover issues with the title, including liens and easements. If you’re a first-time buyer, knowing what an easement is can help you determine whether you want to move forward with the sale. An easement on a property refers to the legal right…
Ultimate Guide to VA Loan Termite Inspections
The Department of Veterans Affairs (VA) presents an attractive financing option for veterans and their families looking to purchase a home. However, there are specific standards and procedures that must be met to ensure the quality and safety of the property being purchased. Unfortunately, the VA’s guidelines and a lender’s criteria can make VA loans…
Mortgage Rate Lock Extension Fees Explained
A home is the largest investment many people make in their lifetimes. Unfortunately, the mortgage process can be complicated for first-time homebuyers who don’t know its intricacies and the different steps. One such intricacy is the mortgage rate lock extension and its associated fees. When you’re in the process of getting a mortgage, the interest…
Your Complete Guide to VA Loans for Mobile Homes and Manufactured Properties
Veterans and active duty service members may be eligible for a special type of mortgage known as the VA loan, which is backed by the U.S. Department of Veterans Affairs (VA). VA loans are designed to support those who have served our country, offering them significant advantages like no down payments, limited closing costs, and…
Understanding APR vs. Interest Rate
For borrowers, understanding the distinctions between APR vs. interest rate can mean the difference between securing an affordable loan or spending too much in the long run. Both APR and interest rates determine how much a loan will cost. However, they encompass diverse aspects of that total cost. When comparing APR and interest rate, it’s…
House Titles: The Ultimate Guide
Being a property owner comes with many responsibilities and documents. One concept people misunderstand is the house title. A house title is the legal notion of property ownership and signifies the bundle of rights associated with a piece of property. Unlike the deed, the house title isn’t a document. Instead, it’s a concept that encapsulates…
When to Notify a Mortgage Company of Death
When someone passes away, their family is typically responsible for tying up their loose ends, which may mean contacting the mortgage company. If a deceased individual had an outstanding mortgage balance, notifying the mortgage company as soon as possible can clarify the next steps concerning the property and repayment of debts. Failure to communicate this…
House Hunting Tips and Shopping Guide
Finding a new home to purchase is a monumental step in anyone’s life. Anticipation, excitement, and a little bit of stress come together to help you find your perfect home. Each home has its own story, charm, and potential pitfalls. House hunting is more than just finding a place to rest after a long day…
Appraisal Gaps: What You Need to Know as a Home Buyer
Understanding various terminologies and processes that can affect your mortgage loan can significantly influence your experience when buying and owning a home. An appraisal is an integral part of the mortgage process because it establishes the market value of a property, which lenders use to determine the loan amount. The appraisal also protects buyers, ensuring…
Foreclosure Definition & How to Avoid It: A Complete Guide
While homeownership has many benefits, homeowners must realize that investing in property always carries risks, especially if they fail to fulfill their financial obligations. Foreclosure is something no homeowner wants to go through. However, understanding how foreclosure works can help safeguard one of the most important assets you’ll ever own — your home. Foreclosure is…
Underwater Mortgage: What It Is and How to Deal With It
Understanding the housing market can be challenging for anyone, including homeowners. An underwater mortgage is a term homeowners should know to help them avoid some of the negative consequences that can come with owning a home. While there are plenty of benefits to homeownership, there are also some risks involved. Although no one wants to…
Blended Rate Calculator
Our blended interest rate calculator is designed to take the guesswork out of the equation. With this calculator, you can effortlessly input multiple interest rates, and it will instantly provide you with a unified, single rate. The blended rate calculator makes understanding interest rates easier, ensuring accuracy. Keep reading to learn how to calculate a…
401(k) Withdrawal for Home Purchase
Saving for a down payment and being able to prove your ability to repay a home loan can be challenging, especially if you don’t have a traditional job. However, alternative options exist, depending on your unique financial situation. If you have a 401(k) retirement account, you may be able to tap into it as income…
How to Buy a House With Low Income
Are you wondering how to buy a house with low income? Buying a house with a low income can be a significant challenge, particularly with existing mortgage requirements and the competitive nature of the housing market. On the other hand, low income houses are available, and income-based loans can make it easier for people with…
How to Increase Your Mortgage Pre-Approval Amount
Getting pre-approved is the first step to homeownership. A pre-approval letter demonstrates that you qualify for a home loan and the total loan amount a lender might be willing to offer. A mortgage pre-approval doesn’t guarantee you’ll receive the same amount during final approval. However, it can help your offer look more appealing to sellers,…
What Is the Adjusted Basis of a Rental Property?
Investing in rental property is all about making money. Unfortunately, earning on a rental property means paying taxes on your income. Knowing key financial metrics about your rental property can help you estimate how much you’ll owe during tax season. The adjusted basis is one of the most important metrics for calculating your tax burden.…
Conventional Loan Requirements
Conventional loans are the most common type of mortgage product. Unfortunately, they can be more difficult to qualify for due to stringent requirements that can prevent some types of borrowers from achieving their dreams of homeownership. Conventional loans are provided by private lenders, they’re not backed by government agencies. Instead, the requirements for these loans…
How to Make a Cash Offer on a House
If you are looking to forgo a traditional mortgage, it is possible to become a cash home buyer if you have the finances or credit score to do so. Whether you have proof of the funds in your bank account or you want to work with a financing company to make a cash offer on…
How Long is a Pre-Approval Good For?
A mortgage pre-approval is one of the first steps you should take after making the decision to buy a home. Obtaining a mortgage pre-approval letter gives you negotiating power when shopping for homes and shows sellers you’re a serious buyer. Unfortunately, your mortgage pre-approval letter won’t last forever. So how long is a pre-approval good…
What Is Tappable Equity?
For many, a home is the most significant investment they’ll make. But what’s the point of investing in a home if you don’t use that investment to better your life? According to Black Knight, total mortgage holder equity topped $16 trillion again in June of 2023, with tappable equity – the amount that can be…
What Are the 3 Types of Reverse Mortgages?
With a reverse mortgage, you can grow your income with a loan you don’t have to repay until you sell the property or pass away. These types of loans are great options for retirees who meet the eligibility requirements. Learning about the different types of reverse mortgages that are available can help you find the…
A Guide to MCA Loans
A merchant cash advance (MCA) loan is a type of lending that is based on the average value of credit and debit card receipts taken in by a business. Merchant cash advances typically have a short application process, no credit check requirements, and are typically approved in 1-3 days. While there may be times where…
No Doc Home Equity Loans: A Guide to No Doc HELOCs & HELOANs
A home equity loan can help you tap into your home’s equity to consolidate debt and free up your cash flow. Unfortunately, not everyone has a regular 9-5 job with documentation like W-2s, pay stubs, and tax returns that allow them to easily prove their ability to repay a loan. While traditional loans require borrowers to…
Bank Statement Loan Calculator
Becoming a homeowner is a big step, and you must be financially prepared. Asking yourself, “How much house can I afford?” can help you determine whether you’ll qualify for a loan based on income, debt obligations, down payment, housing expenses, available funds, loan terms, and more. Use our bank statement loan calculator to help you…
Can You Sell a House With a Mortgage?
If you already have equity in your home but you need to relocate or are interested in purchasing a new home, you may want to sell a house with a mortgage that hasn’t yet been paid off. Fortunately, this is entirely possible and many people go through the process of selling a house with an…
How Much Are Closing Costs?
Buying a home is still a huge part of the American dream. Nevertheless, to achieve this goal, your actions must be anchored in reality. Closing costs are one of the most commonly overlooked parts of purchasing a home. Unfortunately, many prospective homeowners fail to fully calculate closing costs and incorporate them into their home buying…
How Long Does It Take to Refinance a House?
You can refinance your mortgage to fund home improvements, pay college tuition, or accomplish other financial goals. However, if you’re on a timeline you might be asking yourself, “How long does it take to refinance a house?” It can take up to 45 days or longer depending on the type of loan you opt for…
What Credit Score Is Needed to Buy a House?
Are you thinking about purchasing a house in the near future? If so, you have probably heard that there are a lot of factors that will influence your potential mortgage interest rate, and one of them is your credit score. If your credit score is too low, you may not even qualify for a mortgage.…
Mortgage Pre-Approval: What You Need to Know
When shopping for a house, it helps to know how much you can afford to spend. A mortgage pre-approval helps you understand how much of a home loan you may qualify for and gives you more power when making an offer on your dream home. The mortgage pre-approval process works similarly to getting a mortgage,…
Is Property Tax Deductible?
When you purchase a home, you’ll be required to pay various fees, such as homeowner’s insurance and property taxes. Property taxes are paid to local governments to fund essential services like schools, police, and fire departments. Unfortunately, depending on where you live and the value of your home, property taxes can be costly. Paying property…
Debt Consolidation Calculator
If you’re looking for ways to get out of debt, you’re not alone. Many people struggle with paying off debt and keeping their finances in good shape. Debt can even have a negative impact during the mortgage underwriting process and make it harder to purchase a home. However, it can be difficult to manage multiple…
PMI vs MIP
A home is often one of the most significant purchases you’ll ever make. Unfortunately, not everyone realizes the various costs of taking out a mortgage. Apart from your monthly mortgage premium, you’ll be responsible for everything from closing costs and administrative fees to mortgage insurance. The type of mortgage insurance you may be responsible for…
A Guide to VA Loan Points
VA loan points are the same as loan points on a conventional mortgage, but they may not be as advantageous as they may seem. The act of buying down points is one of reducing the amount of interest you pay. The general rule of thumb is that you can lower the interest rate by an…
Tax Benefits of Real Estate Investing
Investing in real estate can help you build wealth over time while expanding your portfolio with new opportunities. In addition, the tax benefits of real estate investing make it even more appealing for new and veteran investors alike. Tax deductions for rental properties are one of the most significant benefits of investing in real estate,…
Do VA Loans Have Mortgage Insurance?
It can be tough to save up for a down payment, but VA loans offer an alternative since you may not have to put any money down at all if you meet the eligibility requirements. However, down payment is only one of the costs associated with buying a home. Another cost home buyers have to…
USDA Loan Pros and Cons
Homeownership can be expensive, but with the right mortgage, you can save thousands of dollars over the life of your loan. With so many options available for borrowers, home buyers may forget about government-backed programs like the USDA loan. USDA loans are guaranteed by the Rural Development Guaranteed Housing Loan program from the US Department…
VA Forbearance Guidelines: What You Need to Know
Many homeowners have been facing hardship over the last few years related to the pandemic, which has caused severe impacts on their finances, particularly in making mortgage payments. To aid them, the CARES Act was introduced, extending relief to a broad spectrum of homeowners, even those possessing VA loans. Below, we’ll delve into the guidelines…
What is an Asset Depletion Mortgage & Is It Right for You?
When most people think about home loans, they’re thinking of conventional loans. These loans have strict income verification guidelines, allowing underwriters to verify a borrower’s income in only a few ways — with W-2s, tax returns, and pay stubs. However, not everyone has these documents, or they may not accurately reflect their full income. Some…
What Is APR on a Loan?
Taking out a loan costs money. When you take out a loan, you’ll see various terms on your paperwork that can help you estimate your total costs, such as interest, APY, and APR. Knowing what these terms mean can help you determine if a loan or credit card is right for you based on your…
Does Forbearance Affect Getting a New Mortgage?
If you struggle to make on-time mortgage payments, you may qualify for forbearance. While you’re in forbearance, you won’t be expected to pay your mortgage, but it may impact your financial health in the future. Many people entered a forbearance program during COVID-19 that allowed them to remain in their homes without worrying about mortgage…
Home Equity Line of Credit
Leveraging the equity you’ve built up in your home can help you pay for large expenses at a lower interest rate than other types of debt like personal loans or credit cards. A home equity line of credit (HELOC) is a second mortgage that allows you to start using your home’s equity to increase cash…
The VA Loan Pre-Approval Process
Both veterans and active military service members can qualify for a VA loan if they meet the minimum qualifications. If you’re hoping to buy a home with a VA loan, then consider getting pre-approved for a VA loan as one of the first steps in the lending process. With VA home loan pre-approval, you can…
How to Calculate ROI on a Rental Property
Investing in rental property can help you grow your wealth, but it also comes with a different set of responsibilities than any other type of real estate investment. When you invest in rental properties, you’re responsible for everything from handling tenant issues and maintenance requests to calculating your return on investment (ROI) to ensure you…
100 Percent Disabled Veteran Home Loan
The VA loan allows for 100% financing for eligible borrowers. Active duty service members, veterans, and surviving spouses can apply for a VA loan with zero percent down. Of course, there are additional fees involved with home loans, such as closing costs. But, there are several benefits for disabled veterans that make the VA loan…
Can You Buy a House With No Money Down?
Most people need mortgages to be able to afford to purchase a home, but you might know that with many home loans comes the requirement of a down payment. Unfortunately, this can be a big hurdle for prospective homeowners who might be wondering, “Can you buy a house with no money down?” You can buy…
Real Estate Investing for Beginners
Investing in real estate has major benefits, like growing your wealth and passively generating income without getting a second job. There are many ways to invest in real estate, including house flipping, rental properties, REITs, syndication, and online investment platforms. Real estate investing for beginners can initially seem daunting, but once you get the hang…
VA Loan Calculator
VA loans are government-backed home loans created for military members, veterans, and military spouses with a validated Certificate of Eligibility. VA loans offer numerous benefits, such as low VA loan rates, zero money required for a down payment, and no private mortgage insurance (PMI) requirements. In addition, the Va loan process is relatively simple if…
How to Get a Mortgage
Most home buyers need a mortgage to afford their dream homes. Unfortunately, getting a mortgage for the first time can be intimidating. However, once you’ve gone through the process once, you’ll feel more confident in your ability to get a mortgage in the future. Knowing how to get a mortgage will ensure you have all…
Second Mortgage vs Refinance
With a second mortgage or refinance, you can tap into your home’s equity to increase your cash flow, pay off debt, or afford large purchases. But which option is right for you? When comparing a second mortgage vs. refinance, you should consider your goals. With both options, you can leverage your home’s equity. However, with…
VA Restoration of Entitlement
VA entitlement is a benefit veterans are eligible for that allows them to get qualify for a VA loan. Entitlement is available to veterans who meet certain requirements, which include at least 90 days of active-duty service. In the event that you default on a VA loan, you typically lose your VA entitlement. Have you…
What Is a Cap Rate on a Rental Property? Everything You Need to Know
If you’re self-employed, such as a real estate investor, you need to make sure that you’re generating a solid return on your investment. There are several important metrics you need to follow, such as your occupancy rate and your total monthly revenue, but you might also be wondering, “What is the cap rate on rental…
VA Debt Consolidation Loans for Veterans
If you are drowning in debt and barely making your minimum monthly payments, it may be time to consider a VA debt consolidation loan. When you have equity in your home, the VA loan process makes it possible for you to cash in on the equity in your home so that you can pay off…
How to Sell Your House
Having a stress-free home selling process is crucial for anyone wondering how to sell their home. Most people don’t want to invest too much time or money into the process and often choose to work with professionals to help them sell their homes. Unfortunately, selling a home is complicated, and there’s a lot the homeowner…
Inflation & Real Estate: What Happens to House Prices During Inflation?
Inflation is one of the many concerns on borrowers’ minds today. Unfortunately, when inflation rises, home prices tend to rise with it. However, purchasing a house now may be more affordable than purchasing one in the future as long as inflation is expected to continue increasing. Rising inflation means higher home prices, but it also…
A Guide to NINA Loans
Investing in real estate can help you passively build wealth over time — whether you purchase a primary residence or an investment property. If you’re like most buyers, you need a mortgage loan to help you purchase a home, but there are so many options available that finding the right one can be challenging. Conventional…
2/1 Buydown Calculator
A 2/1 buydown mortgage is a type of mortgage that allows the borrower to reduce the amount of interest paid during the first two years of the mortgage. It’s similar to buying points that reduce the interest rates but typically lasts for a period of two years. You could potentially save a lot on interest and enjoy…
What Are VA Non-Allowable Fees & Who Pays Them?
When you take out a home loan, you’re subject to closing costs, which can significantly impact your home-buying budget. However, if you’re purchasing a home using a VA loan, there are rules about allowable and non-allowable fees, which can help lower the costs you’re responsible for. VA loans were created to help eligible service members,…
What Is a VA ARM Loan?
The U.S. Department of Veterans Affairs (VA) backs mortgage loans taken out by eligible service members and veterans who obtain financing through the VA home loan program. In doing so, eligible borrowers are able to take full advantage of a number of benefits, including no down payment, competitive interest rates, and lower VA loan closing…