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USDA Loans for First Time Home Buyers

Posted in Guide to USDA Home LoansPosted by Maple Tree FundingHappy young African American couple celebrate moving into their first home

Purchasing your first home can be an exciting and, in some ways, overwhelming experience.  With many mortgage options to consider, one of the most overwhelming aspects of home shopping for first time home buyers is often the process of understanding, evaluating, and selecting the best financing option. For many first time home buyers in rural areas of New York, USDA home loans are an ideal financing option.  Considering a USDA mortgage? We review some of…

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FHA Property Flipping Rules

Posted in Guide to FHA Home LoansPosted by Maple Tree Fundingvector image showing the transformation of a fixer upper

The Federal Housing Administration offers home loans that provide buyers with lower down payment requirements and more flexible lending standards than many conventional loans and other types of government loans. As a result, FHA mortgages are a terrific option for many home buyers – including home buyers interested in purchasing fixer uppers. But what if you’re interested in purchasing a flipped home that has recently been fixed up by another owner? What if you’re hoping…

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What are the Advantages of a New York USDA Mortgage?

Posted in Guide to USDA Home LoansPosted by Maple Tree Fundingwooden house symbol on nature background

Whether you’re purchasing your first home or you’re looking to relocate from your current home into a new house in New York State, a USDA mortgage could be a great option.  With competitive rates, flexible requirements and no down payment required, NY USDA loans are a popular choice among the home buyers who qualify. Curious about the benefits and advantages of USDA mortgages? We review 6 key ‘pros’ of New York USDA mortgages here. USDA…

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How To Apply For An FHA Loan

Posted in Guide to FHA Home LoansPosted by Maple Tree FundingFHA loan application form

Applying for an FHA Loan is not much different than applying for a standard conventional mortgage. There are extra documents specific to FHA that must be filled out, including FHA Addendums, an FHA notice to homebuyers, and a few other FHA standard mortgage documents. However, the core documents remain the same. Getting Started with an FHA Mortgage Application Step 1: Fill Out a Loan Application If you’ve decided to apply for an FHA Loan, you…

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FHA Loans vs. USDA Loans

Posted in Guide to FHA Home Loans, Guide to USDA Home LoansPosted by Maple Tree FundingYoung couple consulting with mortgage broker about FHA vs. USDA home loan options

When choosing a loan program, it’s important to understand your options. Let’s take a look at two different types of popular government loan programs – FHA loans and USDA loans – and how they compare to one another. Weighing Your Options: FHA Loans vs. USDA Loans Government mortgages are backed by the government, as their name indicates, meaning that the government ensures repayment to the bank or lender if you happen to default on your…

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