When buying a home, saving for a large down payment can be one of the biggest hurdles. That’s where an FHA loan can make a difference. Backed by the Federal Housing Administration (FHA), this type of mortgage helps first-time and moderate-income buyers qualify for homeownership with flexible credit requirements and a lower down payment. In this Redfin article, we’ll explain what an FHA loan is, how it...
Buying a home with a VA loan comes with a few extra steps designed to protect veterans and active-duty service members, and the property inspection process is one that’s often misunderstood. A lot of buyers assume the Department of Veterans Affairs sends an inspector to go through the entirety of the home before closing. In reality, that’s not quite how it works. The VA doesn’t require a full...
For many veterans and active-duty service members, VA loans are one of the most valuable benefits of military service. Backed by the U.S. Department of Veterans Affairs, these loans make homeownership more attainable through lower upfront costs, no private mortgage insurance, and flexible credit requirements. With Veterans Day right around the corner, it’s a good time to highlight this powerful program...
With Veterans Day right around the corner, it’s the perfect time to highlight one of the lesser-known benefits of VA loans: assumability. VA loans are designed to make homeownership more affordable for those who’ve served, offering favorable terms and flexible qualification requirements. But many don’t realize that these loans can also be assumed, meaning a new buyer can take over the existing...
VA loans are one of the most valuable benefits available to eligible service members, veterans, and qualifying surviving spouses. Backed by the U.S. Department of Veterans Affairs, these loans make homeownership more accessible by offering favorable terms like no down payment and no private mortgage insurance (PMI). With Veterans Day right around the corner, it’s the perfect time to highlight the power...
If you’re planning to flip a house – buy a property, renovate it, and sell it for a profit – understanding your financing options is essential. In this Redfin article, we’ll break down the most common types of loans for flipping houses, how to qualify, and what to watch out for when borrowing. Whether you’re renovating a home in Detroit, MI, or transforming a fixer-upper in San Antonio, TX, this...
Buying a home with a VA loan can be one of the most affordable paths to homeownership for eligible service members, veterans, and surviving spouses. But what if you’re eyeing a foreclosed property? Can you use your VA benefits for that? In this Redfin article, we’ll break down everything you need to know about using a VA loan to buy a foreclosure, including how it works, what to watch for, and key...
Experiencing a foreclosure can be financially and emotionally challenging, but it doesn’t have to close the door to future homeownership forever. If you’re hoping to buy again using an FHA loan, it’s essential to understand the FHA foreclosure waiting period, how lenders evaluate your application, and what exceptions might allow you to qualify sooner. Whether you’re browsing homes in San Diego, CA...
For many buyers, FHA loans make homeownership more accessible thanks to lower down payment requirements and flexible credit guidelines. But what if you already own a home? Can you still get an FHA loan? The short answer is yes, it’s possible, but with some important conditions and restrictions. In this Redfin article, we’ll break down when you can qualify for a new FHA loan while owning another...
Key takeaways Jumbo construction loans cover home builds that exceed FHFA conforming loan limits ($806,500 baseline; $1,209,750 in high-cost areas for 2025). They combine short-term construction financing with a permanent jumbo mortgage. Borrowers need strong credit, a large down payment, and significant cash reserves to qualify. Building your dream home can be exciting, but it often comes with a big...
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