FHA vs. Conventional Loans: Differences

Mortgage product eligibility is based on a consumer's financial circumstances. The majority of the industry is comprised of conventional mortgage loans. However, alternative solutions are supported and insured by the Federal Housing Administration. Funding a home purchase can be done with either an FHA loan or a conventional mortgage, but there are some key differences between the two.

Feb 27, 2024

sourcing a mortgage down payment

Find out how you can increase your chances of securing financing for a mortgage down payment. Get the best strategies, tips, and alternative funding sources to help make your dream home come true!

Feb 06, 2024

All About Delayed Draw Term Loan

The timing and amount of a term loan's disbursement to the borrower are governed by a feature known as the "delayed draw." Periodic payments under the DDTL are usually made every three, six, or some other set number of months, or at other arbitrary intervals based on company milestones.

Jan 24, 2024

The Distinction between Private and Federal Student Loans

The growing expense of higher education may make it unaffordable for many, even though many place a high value on such an endeavor. If you do not have sufficient money to pay for college out of pocket, you should look into your options for getting student loans.

Jan 13, 2024

Reasons a home buyer should ask for a loan condition

Provided something goes wrong during the loan approval or home inspection processes, the buyer will be able to cancel the purchase agreement if the contract contains a loan contingency clause. If a buyer is unsure if they will be able to secure a house loan, they should make sure a loan contingency, also known as a mortgage or financing contingency, is in their contract.

Dec 18, 2023

Fixed Rate Loan

A fixed-rate loan is one in which the interest rate will not vary throughout the loan's term. The fact that the loan rate stays the same throughout the term ensures that the monthly payment won't fluctuate, making this kind of loan very low-risk.

Nov 30, 2023

First Mortgage Payment

The first payment on your mortgage is always due during the first full month after you close; this date will often occur anywhere between one and two months after the purchase of your home has been finalized.

Oct 28, 2023

Finest Selection of Prepaid Debit Cards

You may use a prepaid debit card the same way you would a credit card. You can buy anything up to the amount loaded onto the card and add money to it as often as you choose. Companies must have a significant enough share of the prepaid debit card market to be called the industry leader. But, between 2021 and 2030, the market is expected to grow at a CAGR of 18.2%, according to Allied Marketing Research

Oct 18, 2023