Home Improvement Loan

Overview The FHA 203(k) program allows the homeowner to refinance the current mortgage, while also getting funds necessary to rehabilitate or upgrade the property. Most lenders will not allow financing for a home unless the condition and value of the property provide adequate loan security. When rehabilitation is required,...

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Deciding on an Escrow Account after a Refinance

The monthly mortgage dues of a borrower consist of homeowner’s insurance, private mortgage insurance and property taxes apart from the mortgage principal and interest payments. Lenders require that you pay the insurance amounts and the property taxes in an escrow account held by a third party called escrow services....

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HUD Guidelines for Manufactured Homes

A set of directives prepared by the Department of Housing and Urban Development (HUD) may have served to enhance the quality of manufactured homes. Homebuyers are quite willing to apply for mortgages for this highly affordable quality of housing. Here are the key guiding principles put forward by the...

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