How Do FHA Direct Endorsements Work?

The Department of Housing and Urban Development operates the Federal Housing Authority’s mortgage insurance program. The FHA was created in the 1930s to promote home ownership. Its programs allow lenders to take risks on borrowers with lesser credit so more people have the opportunity to purchase a home. If a borrower defaults, the lender may claim reimbursement from HUD to recover its losses. A lender funds a new home loan after reviewing the borrower’s application and determining the risk is acceptable. [Read More]

Government Sponsored Loan Programs

The federal government, as well as state and local governments, offer numerous real estate financing options, usually consisting of lower-than-average credit requirements, down payments, and interest rates. However, most of these home loans are limited only to individuals who fall under the specific category targeted by the loan program, such as first-time homebuyers, homebuyers in rural areas of the country, etc. The two most popular federal loan programs are FHA (Federal Housing Administration) and VA (Veterans Affairs) loans. [Read More]

8 Things to Look for in a Family-Friendly Neighborhood

Finding the perfect home can be a challenge. Not only do you have to worry about finding a home that looks good, is within your price range, doesn’t have too many problems and that is suitable for your needs, but you also have to pay attention to the neighborhood that it’s in too. The location of a home is important for any home buyer, but it can be particularly important if you have kids. [Read More]