Author: AdminPOM

What is an FHA loan?

Definition of FHA Loan The FHA (Federal Housing Administration) offers mortgage insurance on any loan made by lenders approved by the FHA. They insure loans on multi and single family homes and have insured millions of properties since their creation in the year 1934. It is critical to understand that the FHA doesn’t issue home loans, that’s the job of mortgage lenders. But, if you default or can’t make the mortgage payments, your lender will receive financial recourse from them; therefore the risk to the lender is reduced while keeping the costs down for the borrower. This combination of...

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What is a Conventional Loan?

Definition of Conventional Loan A conventional loan is a type of mortgage, but not insured or guaranteed or backed by the FHA or any governmental agency for that matter. The rate and terms are pre-defined and fixed. Purpose There comes a time in all our lives when you would be considering taking a loan from a bank. There are a lot of different conventional loan which you can choose from, and all of them have their own sets of pros and cons. These include a number of different types such as secured loans, signature loans, mortgages, car loans, and so...

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Your Essential Guide to Purchasing a New Home

If you’re reading this with a view for a guide to purchasing a new home after previously renting; congratulations! You’re finally getting ready to take the huge step on to the property ladder. No longer will you be spending ‘dead’ money on rent. Instead, every payment you make will go towards eventual ownership of the home. The entire new house purchase cycle may seem extremely complex but in reality, there are a number of experts available to help you close the deal. Like any sensible individual with a view to buying a new home, you have probably been busily...

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Are You Ready to Own a Home?

Most young people begin their independent lives by renting an apartment or going off to college. As they build careers, save money, and start families, many may choose to buy a home. Or, perhaps small families looking to move up and expand or finally got that promotion. On the other end, some homeowners nearing retirement may choose to sell their homes to downsize, and become renters once more. Buying vs Renting Buying instead of renting is a big step so it needs to make sense financially. You need to ask yourself a couple of things like, are you ready...

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Encanto Walk

A few miles from downtown Los Angeles, in beautiful Monterey Park, sits Encanto Walk, the private, gated community from Olson Homes. Each Spanish-style home includes incredible energy-saving features, with solar power standard in every home, and LEED certified by the U.S. Green Building Council. Other energy-efficient features include ENERGY STAR appliances, tankless water heater, dual-glazed windows, and water efficient faucets. Olson offers loads of upgrades and personalization opportunities, including upgraded flooring, cabinetry, appliances, and countertops; pre-wiring for ceiling fans and flat screen TVs; additional storage space; window coverings; and optional baths, bedrooms, and lofts. Encanto Walk offers six different...

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