Eclectic Homes

What Are the Benefits of Requiring Tenants to Have Renters Insurance?

A comprehensive standard lease will have a clause that reminds tenants their possessions are not insured by the landlord’s insurance and advocates they obtain a renter’s policy. Going the next step and requiring tenants to purchase renter’s insurance can narrow the pool of candidates, but will repay if something happens in the house that leads …

FHA Mortgage Rules for Down Payment

Mortgages are insured by the Federal Housing Administration given to home buyers by FHA-approved lenders. Buyers who use FHA-insured mortgage applications have money for a down payment. Since the government backs these loans, lending criteria –including for payments–frequently are relaxed. However, the FHA does have a number of down payment conditions. Credit Scoring Credit score …