FHA 203(b) vs. 203(k) Loans: Key Differences Explained

FHA loans, including 203(b) and 203(k) options, offer low down payment requirements, easy credit terms, and low closing costs. These government-backed loans are suitable for purchasing or refinancing homes, with 203(k) loans specifically for properties needing rehabilitation. Credit score requirements vary based on down payment amounts, with no income limits. Both loan types require occupying the...

How do you find a lender who can pre-approve you fast?

Tips for first-time home buyers on getting pre-approved for a mortgage quickly: Talk to a loan officer for guidance, ask for referrals from friends, review your credit report for errors, gather necessary documentation, work with one mortgage professional to find the best option, consider interest rates, fees, and customer service when choosing a lender. Continue to full article...

Compare today’s mortgage interest rates

Today's mortgage interest rates continued a recent trend, with decreases seen across various home loan terms. The average rate for a 30-year fixed mortgage is now 7.37%, while 15-year fixed mortgages are at 6.54%. Rates for 20-year fixed mortgages also decreased. Adjustable rate mortgages offer both risk and reward, with rates that can change over time. It's important to shop around for the...

1 in 10 homebuyers tap retirement accounts for down payments

One in 10 homebuyers use retirement accounts for down payments, which financial planners say can be a reasonable option if done as a loan. The IRS sets limits to protect savings, and while it affects long-term growth, it can make sense for those prioritizing homeownership. Younger buyers are more likely to use this option, but it's advised to explore other options first. Continue to full...

Georgia Living Essentials

Low Cost Living: Housing prices 20-50% below national avg. Diverse housing options. Comfortable living without breaking the bank.Housing Variety: Rental homes, apartments, mobile homes, duplexes. Flexibility in renting and buying. Affordable options for newcomers....

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