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Key Takeaways: An FHA appraisal checklist helps you spot safety and structural issues like peeling paint or missing handrails before you buy. This process ensures the home is a safe investment and meets the minimum standards required for government-backed loans. Your...
Key Takeaways: A piggyback loan allows you to buy a home with less than 20 percent down by taking out two mortgages at the same time. This strategy helps you avoid the extra cost of private mortgage insurance and can keep your primary mortgage within conforming loan...
Key Takeaways: When considering what happens to housing prices during a recession, history shows that home values often stay stable or grow at a slower pace rather than crashing. Unlike the 2008 financial crisis, most modern recessions do not lead to a massive drop in...
Key Takeaways: A conditionally approved status means a lender has formally committed to funding your mortgage once you satisfy specific requirements. This status is much stronger than a pre-approval because a human underwriter has already verified your income, credit,...
Key Takeaways: A blanket mortgage is one loan that covers multiple investment properties, so you make one payment instead of managing several mortgages. The release clause is key because it lets you sell one property without paying off the whole loan, as long as you...
Key Takeaways: You can buy a house before marriage, but you need extra protection. Decide if you are financially ready, and put a written agreement in place so you both know what happens if you break up or one person cannot pay. Mortgage and title are not the same...
Key Takeaways: You can qualify for a home loan using your liquid assets, like savings, stocks, and retirement accounts, instead of traditional pay stubs or tax returns. These loans are designed for retirees and self-employed people who have significant wealth but show...
Key Takeaways: Most lenders require a minimum credit score of 620 for standard loans or 580 for FHA loans. Even if a co-signer has perfect credit, the bank will often use the lower score of the two people to decide the interest rate. Co-signing makes you legally...
Key Takeaways: A judge can decide who pays the house bill, but they cannot force a bank to remove your name from the loan. You are still legally responsible for the debt until you refinance the house, sell it, or get a formal release from the lender. Removing your...
Key Takeaways: A 1031 exchange allows you to sell an investment property and reinvest the profit into a new one to delay paying capital gains taxes. You must follow a strict timeline: 45 days to identify a new property and 180 days to close the deal. You cannot handle...
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