Due diligence Earnest money deposit FHA loan 
HomeLight
AUGUST 9, 2022
“So, someone could literally buy a $700,000 house with no money down with a VA loan,” says May. A Federal Housing Administration loan is backed by the federal government. Unless you’re putting 20% down on a mortgage loan, mortgage insurance is required to protect the lender if the buyer defaults on their loan.
HomeLight
SEPTEMBER 1, 2022
An FHA loan is insured by the Federal Housing Administration and available from FHA-approved lenders. An FHA loan is unique in that borrowers are able to use a down payment assistance program for the entire down payment. It’s important to do your due diligence when deciding what agent to hire.
HomeLight
JUNE 9, 2023
You should also pull their credit report, so you have a deep understanding as to why they aren’t qualifying for a conventional loan.” And that’s just the start of doing your due diligence. Step 4: Collect the earnest money (and save it). Truthfully, doing a 5% conventional loan or 3.5%
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