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Updated by Luke Skar on Jan 17, 2020
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Best Real Estate and Mortgage Articles on Ello

Best Real Estate and Mortgage Articles on Ello

Buying Worst House Neighborhood - madisonmortgage | ello

The old way of thinking was that a home in a really good neighborhood was a solid investment. Buying the worst home in the best neighborhood would be an even better investment. Over time, as the rest of the area continued to appreciate in value, the worst home would also appreciate and provide a huge gain to the owner.

The FHA 203k is a good way to buy a home and also get the extra money that can be used for renovations, repairs or both

The FHA 203k is a good way to buy a home and also get the extra money that can be used for renovations, repairs or both. Learn the pros and cons of FHA 203k loan.

VA mortgage advantages - madisonmortgage | ello

The VA mortgage has several advantages that are not available to other types of loans. These advantages can help the home buyer save money in multiple ways and get approved with ease.

Positive and Negative Points of a Reverse Mortgage - madisonmortgage | ello

The reverse mortgage is a relatively new loan product, compared to conventional loans and FHA loans that have been around for many decades. Since it is so different from a normal mortgage, it went through a few changes to reach its current incarnation.

This article hopes to explain the positive and negative points of a reverse mortgage and help people make a wise decision for their needs.

Never buy the best house in the neighborhood

Real estate experts for once will all agree without exception: even if it’s the mansion of your dreams, the best house on the block might not leave you in the best position!

Reasons VA Loan mortgage wonder - madisonmortgage | ello

The VA mortgage has some wonderful benefits along with a few obstacles that borrowers need to understand. Learn the Reasons for and Against The VA Loan and make a good, educated decision about your home purchase.

ways to increase the value of your home without breaking the bank - madisonmortgage | ello

There are a lot of homeowners who would like to improve the overall value of their home, but they may not have a lot of room in the budget to tackle any major renovations. Thankfully there are a few ways to increase the value of your home without breaking the bank.

Top Prepare Home Appraisal home - madisonmortgage | ello

Top Things To Do To Prepare Your Home For An Appraisal

Bank Statement Mortgage For Self-Employed Home Buyers - madisonmortgage | ello

While the mortgage crisis from 10 years ago may have changed the way banks offer mortgages, bank statement mortgages are still available under the right circumstances. These loans will require some documentation for the down payment and income, but they can be a great alternative loan option for thousands of self-employed people.

Important Tips Time Home Buyers - madisonmortgage | ello

Things that really matter to first time home buyers such as getting formal representation to buy a home, why getting pre-approved is the best first step and how to decide on a place with the right frame of mind are just a few examples of the topics covered.

Top Benefits USDA Loans Home Bu - madisonmortgage | ello

For people that want to not only buy a home but get a great deal on their mortgage, the USDA home loan is one of the better programs available for those who qualify.

Top Real Estate Articles Read S - madisonmortgage | ello

Top Real Estate Articles To Read September 2019

Take a look at this collection of great real estate articles to read featuring articles by Paul Sian Bill Gassett Danny Margagliano Glenn Shelhamer Joe Boylan Sharon Paxson Kevin Vitali Michelle Gibson Eileen Anderson Jeff Nelson and John Cunningham!

Top 11 Things To Avoid Doing Before Closing - madisonmortgage | ello

Top 11 Things To Avoid Doing Before Closing

The old expression “don’t count your chickens before they hatch” is a beautiful analogy to what not to do before closing on a house. Many people feel like a weight has been lifted off their backs when they learn they are qualified to buy a home. However, there is a difference between qualifying and actually closing on a home loan.

To sum it up in one expression, once you get qualified to buy a home, you should do nothing to change your existing financial situation. Do not take on new debt, do not pay off debt, do not do anything that would appear as a major change to your financial plans. Wait until you sign all the papers and close on the loan.

Following this simple advice will help the loan approval process and save you some unnecessary heartache.

What mortgage renovation programs are available and how they work - madisonmortgage | ello

Take a look at this guest post I put together on Bill Gassett's site to learn what mortgage renovation programs are available and how they work!

Featured programs include the FHA 203k, Fannie Mae HomeStyle, CHOICERenovation Loan, HomeStyle Energy Mortgage, and the VA Renovation Loan!

Renovation Mortgage Options: FH - madisonmortgage | ello

Renovation Mortgage Options: FHA 203k And Fannie Mae HomeStyle

The FHA 203k and Fannie Mae HomeStyle loans are common in a few ways and also have their differences. They both will allow potential homebuyers the option to get enough money to purchase a house along with extra money to make repairs or improvements. Both offer a low-down payment. Most importantly, both options allow a borrower to have one loan with one low fixed interest rate to cover their needs.

These loans are perfect for rehabbing an existing home or for buying a home in need of some attention and then renovating the home to suit your tastes.

FHA Loans Explained: Time Home - madisonmortgage | ello

FHA Loans Explained: First Time Home Buyer Information

Without a doubt, the FHA loan is one of the most popular mortgage programs among first time home buyers. The reasons for this are quite simple. FHA has a low down payment requirement, they have forgiving credit requirements, and their rates are just as good as conventional loans.

With all of these great advantages, people who are considering an FHA loan need to be aware of a few of the basic requirements. This will help people decide if an FHA loan is right for their circumstances.

areas country benefit maximum F - madisonmortgage | ello

Most areas around the country will benefit from the new maximum FHA loan limits of $331,760. This amount is the new maximum for a single unit loan.

FHA also offers financing for multi-unit homes, up to a maximum of 4 units.

strong real estate market major - madisonmortgage | ello

The overall strong real estate market has seen major booms in the last few years. The increase in average prices have led to a change in the conventional loan limit, yet again.

For the year 2020, the maximum loan amount allowed by either Freddie Mac or Fannie Mae for a conventional loan will be $510,400.

For perspective, the maximum conventional loan limits in the year 2018 was and then increased in 2019 to $510,400. The new increase is 12.6% over the 2018 loan limit.