Joel Lobb’s Post

In a real estate transaction, a neutral third party called escrow handles money for buyers and sellers. If you put down earnest money, for example, it goes into escrow until the purchase is complete. Another example of escrow is the account your lender sets up for homeowners insurance and property taxes. A portion of each mortgage payment goes into the account.

Everything You Need to Know About FHA Loans When Buying a House in Savannah, GA and Chatham County Buying a house is a goal many people share. Home ownership will not only provide you with a place for your family to live, but it can also be a great investment. However, not everyone can qualify for a conventional loan. But that’s not necessarily the case. There are still FHA loans, which have more lenient credit requirements, along with a fairly low down-payment requirement. Does this sound something like you’d be interested in? In today’s blog, we are going to look at what you can do if you can’t qualify for a conventional, USDA, or VA loan. Read on, then, to find out what you need to know about FHA loans when buying a house in Savannah, GA and Chatham County. Click the link for more... https://lnkd.in/e6n4rjKv

Whether you want to fall back in love with your current home or customize your newly purchased home, a renovation loan can help you do it all. Common uses for a renovation mortgage are: Cosmetic updates Structural repairs Adding square footage Creating your outdoor oasis Let's connect to discuss if a renovation mortgage is right for you.

Thinking about selling your home? Good news! Some home loans, like FHA, VA loans, or USDA loans can be assumed by buyers, with lender approval. (That means if your lender gives the greenlight, you can transfer your mortgage to the person who buys your home.) However, conventional loans are not assumable. Remember, check your loan terms and ask me any questions you have about a buyer assuming your mortgage.

Thinking about selling your home? Good news! Some home loans, like FHA, VA loans, or USDA loans can be assumed by buyers, with lender approval. (That means if your lender gives the greenlight, you can transfer your mortgage to the person who buys your home.) However, conventional loans are not assumable. Remember, check your loan terms and ask me any questions you have about a buyer assuming your mortgage.

Back with more mortgage terms! In a real estate transaction, a neutral third party called escrow handles money for buyers and sellers. If you put down earnest money, for example, it goes into escrow until the purchase is complete. Another example of escrow is the account your lender sets up for homeowners insurance and property taxes. A portion of each mortgage payment goes into the account.

Whether you want to fall back in love with your current home or customize your newly purchased home, a renovation loan can help you do it all. Common uses for a renovation mortgage are: Cosmetic updates Structural repairs Adding square footage Creating your outdoor oasis Let's connect to discuss if a renovation mortgage is right for you.

When it comes to securing an FHA or VA loan for your dream home, understanding the specific appraisal requirements is crucial. Both the Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA) offer loan programs that come with their own set of guidelines for property appraisal. In this blog, we will delve into the distinctive appraisal prerequisites for FHA and VA loans, shedding light on what borrowers need to know to streamline the loan approval process. FHA Appraisal Guidelines Unveiled Property Eligibility: FHA loans are designed to make homeownership accessible, particularly for first-time buyers. Therefore, the property must meet certain standards, including safety, soundness, and security. Minimum Property Requirements (MPRs): These are a set of guidelines that outline the minimum criteria a property must meet to qualify for FHA financing. They encompass aspects like structural soundness, safety, and functionality of systems like plumbing and electrical. READ MORE: https://lnkd.in/e355rS4k

The Many Advantages of VA Home Loans VA home loans provide a pathway to homeownership for those who have served our nation, and they’re a great benefit for buyers who qualify. Options for No Down Payment: Qualified borrowers can often purchase a home with no down payment. That’s a huge weight lifted when you’re trying to save for a home. Limited Closing Costs: There are limits on the types of closing costs you pay when you qualify for a VA home loan. So, more money stays in your pocket when it’s time to seal the deal. Don’t Require Private Mortgage Insurance (PMI): Many other loans with down payments under 20% require PMI. VA loans do not, which means veterans can save on their monthly housing costs. Owning a home is the American Dream. Veterans sacrifice a lot to protect our country, and one way we can show our appreciation is by making sure they know all the benefits of VA home loans. Thank you for your service. #vahomeloans #lauragwyn #salemoregon #homebuyers #va #veterans #veteransday

For more than 79 years, Veterans Affairs (VA) home loans have helped millions of veterans buy their own homes. If you or someone you care about has served in the military, it's essential to learn about this program and its advantages. Here are some important things to know about VA loans before you buy a home. The Many Advantages of VA Home Loans VA home loans provide a pathway to homeownership for those who have served our nation, and they’re a great benefit for buyers who qualify. According to the Department of Veteran Affairs: • Options for No Down Payment: Qualified borrowers can often purchase a home with no down payment. That’s a huge weight lifted when you’re trying to save for a home. • Limited Closing Costs: There are limits on the types of closing costs you pay when you qualify for a VA home loan. So, more money stays in your pocket when it’s time to seal the deal. • Don’t Require Private Mortgage Insurance (PMI): Many other loans with down payments under 20% require PMI. VA loans do not, which means veterans can save on their monthly housing costs. A recent article from Veterans United sums up just how impactful this loan option can be: “For the vast majority of military borrowers, VA loans represent the most powerful lending program on the market. These flexible, $0-down payment mortgages have helped more than 24 million service members become homeowners since 1944.” Owning a home is the American Dream. Veterans sacrifice a lot to protect our country, and one way we can show our appreciation is by making sure they know all the benefits of VA home loans. Thank you for your service. #realestate #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #realestateagents #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice #keepingcurrentmatters