Buying a home is the American dream for many and there are a lot of programs available to accomplish this dream. But what happens when the buyer needs a little extra funds in order to purchase? That is where a gift can be very beneficial. Although it is importa... Read More
Capacity, credit, collateral, and capital are considered the 4 C’s of mortgage lending. Basically, these are the main areas lenders review to qualify a borrower. But these 4 categories are broken down into many subsets. This article is going to discuss th... Read More
So many things seem to block saving for a down payment on a house. High rent payments, car repairs, hospital bills, plus other expenses get in the way. But, there is a special program which allows South Carolina buyers to become homeowners! It is called the d... Read More
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
Check Out The Latest
- Gift Letter for Mortgage: Requirements for Who, What, and How MuchSeptember 21, 2017 - 7:16 pm
Buying a home is the American dream for many and there are a lot of programs available to accomplish this dream. But what happens when the buyer needs a little extra funds in order to purchase? That is where a gift can be very beneficial. Although it is important to understand gift requirements such as […]
- Everything You Need to Know About Purchasing Rental PropertySeptember 14, 2017 - 9:47 am
Whether it is a vacation rental or long term rental, buying rental property could be a big step towards financial freedom. According to the National Association of Realtors, buying a rental or investment property actually accounts for approximately 20% of purchase transactions lately. A benefit for investors that are able to buy rentals is that […]
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