THINGS NOT TO DO WHEN STAGING YOUR HOMEMost people consider interior design something you do after you buy a home and move in. The reality is, however, that interior design plays a big role in
FHA Loans Introduction
Dated: October 4 2018
- First time home buyer
- Don't have money to put down on a house
- You do not have perfect credit
- You want to keep monthly payments as low as possible
Kinds of Loan offered by FHA
- Fixed-rate loans- Most FHA-insured loans are fixed-rate loans. This allows for the interest rate to stay the same during the loan period. The huge positive in this type of loan is in knowing that the monthly payment will be the same.
- Adjustable-rate loans- This type of loan can work for those who start off buying a home while not the most financially secure. The initial interest rate and monthly payments are low, but then they change over the life of the loan. The 1-year-Constant Maturity Treasury Index is used in this case to calculate the changes in interest rates. The most interest rate will increase or decrease in any one year is 1 or 2 points. The maximum change over the lifetime of the loan is 5 to 6 percentage points.
- Purchase/rehabilitation loans- This is the loan for those who are looking to buy a home that needs fixing up. This FHA loan for repairing single-family properties is called the SF Rehabilitation Loan program. The loan combines the mortgage and the cost of repairs. While the mortgage is based on the projected value of the property, after the fix-up is finished. This could have a huge advantage to those with fix-up homes. Because it allows there to be only one mortgage payment.
My name is Roger Flowers, and I am a REALTOR based in Southern California. I have a particular focus on the residential market, more specifically, assisting clients throughout the Inland Empire and Sa....