Month: November 2019

FHA Appraisal Criteria

FHA Appraisal Criteria

Whenever the Federal Housing Administration believes insuring a home, that home has to undergo a rigorous appraisal process. Part of the process is all about determining the house’s appropriate value. But an FHA appraiser must also have an eye for safety, as FHA will not offer mortgage insurance when the residence is considered unsafe. So …

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Do I Know What Size Generator to Purchase for My House?

Do I Know What Size Generator to Purchase for My House?

A backup generator provides power in the event of an outage for essential appliances such as refrigerators, freezers, sump and lift pumps and a couple of lights. Estimating the size of the generator needed means adding up the entire amount of watts used by each appliance you wish to give power in the event of …

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Home Equity Lines of Credit Work

Home Equity Lines of Credit Work

Since their appearance in the late 1970s, home equity lines of credit (HELOCs) have been popular with U.S. homeowners for four primary factors. Ease of getting, flexibility, interest tax deductibility and reduced price have fueled their increase. When there are no ideal loan products, HELOCs are a fantastic option for homeowners needing cheap funds for …

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Why Would an Escrow Balance Proceed on a Mortgage?

Why Would an Escrow Balance Proceed on a Mortgage?

An escrow accounts ensures that property bills are paid. Any bills included in an escrow accounts generally go straight to the lender, which then pays the fees from the money held in the accounts. Fixed-rate loans, or loans using a fixed interest rate and loan repayment schedule, commonly have escrow accounts that could affect the …

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