1. Conventional loans A conventional loan is any mortgage that’s not backed by the federal government. Conventional loans have higher minimum credit score requirements than other loan types — typically 620 — and are harder to qualify for than government-backed mortgages. Borrowers who make less than a 20% down payment are typically required to pay private mortgage insurance (PMI)…

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How an FHA manufactured home loan works An FHA manufactured home loan is a mortgage insured by the Federal Housing Administration (FHA) to purchase homes built in a factory. Although you may hear about FHA loans to buy mobile homes, the term “mobile home” was often used when referring to homes built prior to June…

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Are you curious about the current value of your home? As the real estate market continues to evolve, your property’s worth could be higher than you think. Whether you’re considering selling, refinancing, or simply want to understand your investment better, our Home Value Estimator is here to provide you with accurate insights. What is a…

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Are you ready to take the exciting step towards owning your dream home? We’re thrilled to introduce you to our range of flexible and competitive mortgage solutions that can make your homeownership journey smoother than ever. Whether you’re a first-time homebuyer or looking to refinance your existing mortgage, we have tailored options to suit your…

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Mortgage Rates Near 23 Year Highs. Is There Any Hope? Interest rates of all types have been under immense pressure since the beginning of 2022. That’s when the Fed began raising rates at the fastest pace in decades to the highest levels in decades in order to combat a similarly fast-paced spike in inflation. This…

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Mortgage Rates and Housing Didn’t Care About This Week’s Fed Rate Hike It’s no mystery that the housing and mortgage markets are facing their fair share of headwinds in 2023, but some blow harder than others.  One of the most complicated headwinds is that of Federal Reserve. At first glance, the Fed’s decisions to hike…

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Mortgage rates change daily, and sometimes multiple times per day. In this article, “mortgage rates” will refer to the combination of upfront cost and actual interest rate. The 2 Components of Mortgage Rates. For example, if we talk about “higher rates,” it could either mean that the interest rate is higher, or simply that the…

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Purchasing your dream home is an exciting milestone, but navigating the world of mortgages can be overwhelming, especially if you’re new to the process. One popular mortgage option that many first-time homebuyers consider is the Adjustable Rate Mortgage (ARM). In this blog post, we’ll provide a comprehensive introduction to ARMs, helping you understand their basic…

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Purchasing your first home is an exciting and significant milestone in your life. As you embark on this journey, you’ll encounter various terms and documents that might be unfamiliar to you. One such document is the “Abstract of Title.” While it may sound complex, it is essential for you, as a first-time home buyer, to…

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