When it comes to buying a house, you have a lot of choices for which type of mortgage to get. The FHA loan is one of the most common. These government-backed loans offer an easy, often more affordable road to homeownership than other mortgage options. Right now, they account for nearly 20% of all mortgage applications, according to the Mortgage Bankers Association. So, should you also consider an FHA loan to buy a house right now? What’s an FHA loan? An FHA loan is a type of mortgage insured by the Fede ...

Whether you need funds for a new roof, an addition, or to pay off debt, a cash-out refinance is an option homeowners with substantial equity can consider. Cash-out refinancing can be a great way to tap your home equity when you need money. But before you get too excited about the idea of pulling thousands of dollars out of your house and into your bank account, it’s important to understand the advantages and disadvantages of a cash-out refinance. How does a cash-out refinance work? While many homeowners ...