Here’s what homebuyers can expect when making their first home purchase, from prequalification to mortgage approval.
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Here’s what homebuyers can expect when making their first home purchase, from prequalification to mortgage approval.
ContinueBuying your first home is one of the biggest financial decisions you’ll make. Download our first-time homebuyer’s handbook to learn what’s involved.
ContinueWith the exception of a few sun belt states, shopping for a house in the winter just seems off. The traditional time to go from listing to listing is spring and summer. But while things slow down this time of year, there are some hidden advantages to choosing it as your buying season. In fact,…
Continue Buying A Home In The Off-Season Can Have Its Advantages
Building a house vs. buying. It’s a question that faces many who enter the housing market. Whether you’re a first-time homebuyer or you’re looking for something that better fits your family’s needs, it’s a question that you’ll likely have to consider. Whatever direction you decide to go, it’s important to compare the positives and negatives…
Continue Building a House vs. Buying: What is Right for You?
Down payments are challenging for many first-time homebuyers. It seems that the initial financial stab at home ownership is among the greatest roadblocks of owning a home. The transition from renter to homeowner or to vacate their parents’ basement as they save up is taking longer and longer. Family members willing to pitch in financially…
Continue Note the Rules of Using Gift Money for a Down Payment
The VA loan is one of the best mortgage loans there is. Here are some reasons why. First, VA guarantees the loan for 100% of the appraised value of the property (technically, the loan is for the Notice Of Value amount, which in most cases is the same thing). This guarantee means that the lender…
Continue Why Should I Use a VA Loan
Home appraisals are typically required during the home buying process in order to determine the current fair market value of the home. The home appraisal process is a combination of science and opinion—but mostly science, even though the value that the appraiser delivers is called an “opinion of value” as of the effective date of…
Continue How does a home appraisal really work?
A 20% down payment is anything but standard. Making a smaller down payment does involve some form of mortgage insurance (MI). Conventional loans are available with as little as 3% down.
ContinueMany first-time home buyers have stars in their eyes when they first begun house-hunting. Their ideal is a house that is move-in-ready, offers the number of bedrooms/baths/square footage they’re looking for, is in a great neighborhood and, of course, is within their budget. Matching all that criteria is often a tall order, especially the move-in-ready aspect…
Continue First-time homebuyers reality check
Moving into your own house can be exciting and frightening at the same time. Before transitioning from renting to owning a home, you’ll need to create a savings plan that not includes your down payment (typically 5 to 20 percent of the home’s value) but also a reserve fund to cover unexpected emergencies. Tips on…
Continue Saving for a house and other financial considerations
Paying down your mortgage early may be possible, but is it smart?
ContinueThe second step in buying a home is finding out your credit score, and deciding how to proceed based on that.
ContinueAs a homebuyer, one of the biggest decisions you’ll have to make revolves around the type of financing you wish to obtain.
ContinueCurrent homeowners can also benefit from low mortgage rates by choosing to refinance their home.
ContinueGetting a mortgage will take some time. Before you head to a lender, it’s important to ensure your finances are in order so you can secure the best possible interest rates and don’t fall behind on future payments.
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