Any home buyer who is taking out a mortgage must decide for themselves what type of mortgage is right for them. FHA mortgages and conventional mortgages are very popular, but for homeowners who qualify, USDA loans and VA loans may be the better option. Both loans have low interest rates and are excellent options for a home buyer on a budget. If you qualify for both types of loans, knowing the difference between them can help you decide which one is right for you.
For informational purposes only. Always consult with a licensed mortgage or home loan professional before proceeding with any real estate transaction.
What Is a USDA Loan?
USDA loans are issued through the US Department of Agriculture. These loans can only be obtained through lenders
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A VA loan is a loan backed by the Department of Veteran's Affairs. Veterans and service men and women have access to VA loans as do their surviving spouses. VA loans are known to have many attractive benefits for home buyers on a budget. They're distinctive from many other types of mortgages in that they do not require a down payment and also do not require the home buyer to pay for mortgage insurance. This can save the person buying a home a great deal of money, and can make home buying a possibility for people who may not otherwise be able to afford this kind of purchase.
A lot of time and effort is put into buying and selling homes, and that extends to the actual event of moving as well. When a homeowner is trusting a moving company to move everything they own from one location to another, they want to be sure they can trust those movers and they are a reputable moving company. For many people, untrustworthy movers are the ultimate nightmare of the entire home buying process, and this fear is completely founded. There are moving companies out there who try to take advantage of homeowners in many different ways. Fortunately, they have warning signs that homeowners can spot in advance. Here are some of the common warning signs of a moving scam.
Buying a home long distance can be very difficult. Unfortunately, this is something that people in the military have to do often. Working with the right professional, using modern technology and following other best practices can help you find the right home, even when you're looking from a long way away.
Home sellers like to make their property look as good as possible. During home showings and open houses, most maintenance problems are hidden from view. There may be no way to tell a distressed property from a well-maintained property without getting an inspection from a good home inspector. Knowing the red flags can help you avoid purchasing a property in need of costly repairs. Here's what you need to know.
Military service members face many relocation challenges that many other people don't face. Primarily, military service members are forced to move a lot for their job. When moving, military service members must make decisions like whether to buy or rent an apartment, a home or a condo. The experience of condo ownership versus apartment rental can be very different, so it's important to make the right decision when relocating for work. If you're a military service member who is relocating soon, here's what you need to know about buying a condo.
Military service members are offered a number of protections to give them an edge in the housing market. Not only do VA loans offer affordable interest rates, many don't require a down payment. The question becomes just how far those benefits extend. Learn more about how property taxes work and what veterans and active-members can expect.
People in the military move quite a bit. Over time, they perfect the art of finding a new Falcon home, settling down, and making the best of it. If you're a member of the military and you're moving, whether it's for the first time or for the fifth time, these tips can help you have a smooth transition. Here's what you need to know.
When looking for a Peyton home to rent, the majority of people find themselves looking for weeks for a suitable place. As time goes by, worries and uncertainties can pile up, making it easy to fall for common rental scams. This is especially true since so many of these modern scams are well-crafted and outright believable. Knowing just what to look for, however, can help people avoid those scams and find somewhere to live with and have a smooth PCS move in the process. To help out, here's a glimpse into the most common rental scams and how to avoid them.
A seller's market is a market condition that typically arises from a low inventory of homes in a desirable area. High prices and an overflow of motivated buyers make it difficult to purchase a home for an affordable price, and in some cases, getting a house at all can be difficult. If you're a Gleneagle home buyer who would like to purchase a home in a seller's market, here's what you need to know.
