The biggest misconception among renters is that a large down payment is necessary to buy a home. Then many will rent for an extended period thinking that a home purchase is unreachable. A recent article by Citylab, “The down payment is too ‘daggum... Read More
Financing rent to own homes is a popular topic. Are there reasons holding you back from buying a home now? Are you in a lease with option to buy contract and ready to purchase the home now? These are common topics we will thoroughly discuss. Before enterin... Read More
Are you buying a home from a family member? Family transactions may have pluses for both the buyer and seller. A major benefit to buyers is a gift of equity. So what is a gift of equity? It is a little known rule which allows equity in a family member’... Read More
FHA loans are well known for helping buyers obtain a very affordable house payment. Well FHA, one of the most popular loan programs, just became even cheaper because HUD lowered FHA PMI rates for the 2nd time in 2 years. The Federal Housing Administration will... Read More
Renovation Loans Create Dream Homes Think of all of the homes you search for that meet everything on the checklist. BUT what if the home does not meet lender condition requirements? Renovation loans help finance a purchase along with the home improvements desi... Read More
Private Well Minimum Distance Requirements for FHA Loans Private well requirements for FHA loans Most don’t realize that when using an FHA loan, there are some requirements in regards to distances away from areas for private wells. In reading the rules, you m... Read More
FHA Loans Wilmington NC You may have heard in the news that many larger lenders and banks have withdrawn from FHA loans . OVM Financial is still very active in helping buyers looking for the features offered by FHA. We love helping our local buyers get FHA Lo... Read More
Charge Off Mortgage Solutions You can buy a home with an old charge off on your credit Often a buyer may have gone through a period where there was a drop in income, took a while to find a job out of school, had a medical emergency, a divorce, or just didn’t un... Read More
Commission Income & Mortgages Commission Income Buyers Could Qualify for a Home in 1 Year! It happens all the time where someone builds up the nerves to venture from an hourly or salaried position into a full commission income job. Often, if the person is good... Read More
Public Water Connection little known rule that can kill a closing! Hopefully you have never been caught off-guard by this little known Public Water FHA rule. It can add a large unexpected cost to a purchase! Did you know that if a property is using a well for it... Read More
Check Out The Latest
- Understanding a VA Alive and Well Statement for Military POA ClosingsMay 22, 2017 - 11:55 am
Service members and military Veterans have a very affordable way to buy a home with a VA loan. This is a huge advantage for military buyers and feel free to check our expansive library of VA articles backing this up! But what if the active duty or Veteran borrower is not available for closing? Well, most military families are […]
- VA Home Loan Process for Active Service MembersMay 10, 2017 - 7:33 pm
Military buyers have a huge benefit when it comes to purchasing a home. Not only do service members have a no down payment option, but VA loans may be the best mortgage available. VA loans offer up to 100% financing with no monthly mortgage insurance. Thus, this feature keeps mortgage payments low. This is especially true […]
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