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FHA loans: Definition, requirements and limits
Bankrate via Yahoo Finance· 1 day agoKey takeaways An FHA loan is a type of mortgage geared toward borrowers with lower credit scores or who otherwise don't qualify for a conventional
No-doc mortgage: What is it and can you still get one?
Bankrate via AOL· 9 hours agoWhy? Because a borrower who lacks full concrete evidence of regular earned income appears less...
Today's 15-year mortgage rates go down while 30-year mortgage rates hold steady | April 23, 2024
FOX Business· 2 days agoThe interest rate on a 15-year fixed-rate mortgage is 6.500% as of April 23, which is 0.125...
FHA loan requirements for 2024
FOX Business· 5 days agoThe maximum DTI for an FHA loan is 43% unless the borrower has “acceptable compensating factors,” in which case you can be approved with up to a 47% DTI ...
How to prepare for FHA appraisal requirements
Bankrate via AOL· 5 days agoThis step is required by lenders during the FHA mortgage process to ensure they’re not lending more than the home is worth. Similarly, the government...
Daily mortgage rates for April 24, 2024: 30-year, 15-year rates high but steady after last week's...
AOL· 17 hours agoTypically, as the Fed rate rises, so do APYs on savings products like CDs, high-yield savings...
VA loans: What they are and how they work
Bankrate via AOL· 5 days agoPros of a VA loan No down payment: VA loans allow you to purchase a home with zero down payment. In contrast, you’d need at least 3 percent down for a...
What is a loan-to-value ratio?
Bankrate via Yahoo Finance· 5 days agoSome mortgages allow a far higher loan-to-value ratio than others. Loan type LTV maximum *Without private mortgage insurance (PMI) Conventional
What is an energy-efficient mortgage (EEM)and how can it save you money?
Bankrate via Yahoo Finance· 5 days agoAn energy-efficient mortgage (EEM) is a loan for purchasing or refinancing a home that meets certain...
What is correspondent lending?
Bankrate via Yahoo Finance· 1 day agoExample of correspondent lending Let’s say you want to take out an FHA loan. You find a large-outfit mortgage lender who helps you find the best rates on...