How to Get a Mortgage Loan for a Fixer

April 17, 2015

in Mortgage Loans | Tagged , , , , , ,

Here’s a clever real estate dictum for you: Don’t buy the best house in a bad neighborhood; buy the worst house in a good neighborhood. There are several reasons for this rule, but the main one has to do with property values, which are determined in large part by the surrounding homes. If you buy [...]

Buy a Fixer With an FHA Loan

April 4, 2014

in Home Buying Guide, Mortgage Loans | Tagged , , , , , ,

Most real estate agents have tales of clients who just can’t seem to look beyond a home’s minor flaws, be they ratty floors or sagging screens. Then, there are those clients who can envision the possibilities of a house that’s seemingly being held up by a prayer. If you fall into the latter category but [...]

Understanding FHA-Insured Loans

December 20, 2013

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One of the few blessings to come out of the Great Depression was the FHA-insured loan. Although, contrary to what many think, it wasn’t created to help low-income buyers get into homeownership. Just as during our recent Great Recession, during the Depression foreclosure rates skyrocketed, leaving lenders in the lurch. The FHA-insured loan was created [...]