VA loans can be used to buy more than a single-family property. Even though it’s an owner-occupied program only, you can use the program to buy a 1-4 family unit. The only catch is that you must live in one of the units yourself as your owner-occupied property.Compare Offers from Several Mortgage Lenders.What if you want to buy a multi-unit property that needs work? Maybe it doesn’t even … [Read more...]
Is There a Mortgage You Can Add Renovation Costs to a Purchase?
Did you know it’s possible to buy a home and borrow money to renovate the home at the same time? Most people think they have to wait until they own the home and then take out a home equity loan once they build up equity in it. That’s not the case, though.Compare Offers from Several Mortgage Lenders.There are two loan programs you can use – one is government-backed and one is … [Read more...]
What you Need to Know About VA Property Requirements
Have you heard that VA property requirements make it hard to get a VA loan? Luckily, that is a myth. While it's true that the VA does have certain requirements, they are for the good of you, the veteran. The VA wants to ensure that you buy a property that is safe, sound, and sanitary. While this does protect the VA and the lender, it also prevents you from buying a property that might be a money … [Read more...]
Should you Refinance to Pay for Home Renovation?
You have some home renovation ideas swirling through your mind and you want to make them a reality. You have a few options – use your credit card, refinancing your home, or paying cash. While you know that using a credit card could leave you with high-interest rates and a trail of debt for many years to come, refinancing may provide an attractive option. Unless you have the cash lying around, … [Read more...]
