Understanding FHA adjustable rate mortgages
Interest rates on an ARM can change periodically. The initial interest rate of an ARM is usually lower than a fixed rate mortgage. An ARM may be a good option to consider if you plan to own your home for only a few years. FHA loans require a minimum down payment and funds for closing [...]
Buy a fixer upper and finance the renovations
So many buyers want to buy an old home and then fix it up but cost is a major issue. Another fear is that they feel overwhelmed that they have to do all the work themselves. I have written about FHA 203k loans before on my blog at RaleighRealEstateNews.com. Here is a great video that [...]
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