Though often overlooked when it comes to mortgages, credit unions can offer benefits that other lenders may not do so well, such as having lower fees, knowing the local market and being able to make loans on unique properties.
With all the benefits VA loans offer for veterans and members of the military, they aren't always easy to obtain.Some veterans may need additional help or may find other options to be more attractive in their situation.
PMI (private mortgage insurance) is an annoying expense but you can ask to cancel it once you reach 80 percent loan to value on your mortgage.But is doing so worth the bother, rather than waiting for it to be canceled automatically?.
House hacking, where a house is divided into two or more residential units to generate rental income to defray the cost of a mortgage, is an increasingly popular way to make home ownership more affordable.Here are some of the things to keep in mind before trying it.
For eligible veterans and active duty servicemembers, VA loans offer no-down payment loans with mortgage rates that can be significantly lower than conventional home loans and accommodating credit standards as well.