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5 minutes read
Homeowners commonly choose to refinance for a variety of good reasons. Mostly, it is to score better mortgage terms–whether it is to lower your interest rate, shorten your term, remove mortgage insurance or any other personal benefit. According to recent news, refinances have been in high demand lately. THE HIGH DEMAND FOR REFINANCING Ellie Mae recently released the latest Origination Insight Report showi...
4 minutes read
If the thought of saving 20% of your purchase price for a home has you panicking, don’t worry. You don’t necessarily need a 20% down payment, especially as a first-time homebuyer. You may have access to several programs that allow as little as 3.5% down on a home. Looking for Current Mortgage Interest Rates? Click Here. Now it does work to your benefit to put 20% down if you qualify for conventional financi...
4 minutes read
A majority of home buyers whether it be their first time buying a home or their 10th, down payments are usually the biggest headaches for home buyers. With the HomeReady™ Mortgage Program from Fannie Mae that headache is alleviated. The HomeReady™ Mortgage Program offers 3.0% down payment for first time home buyers. BENEFITS TO THE HOMEREADY™ MORTGAGE PROGRAM Besides the wonderful benefit of 3.0% down p...
4 minutes read
Have you heard that the FHA loan is the best first-time homebuyer’s loan? In fact, it’s been known as only a first-time homebuyer’s loan for many years. That’s not the case, though. First-time homebuyers can use any type of financing that is available in today’s market. What you need to decide is which program is right for you. Looking for Current Mortgage Interest Rates? Click Here. DO YOU HAVE A DOW...
3 minutes read
As discussed in one of my articles, a home inspection is a vital part of the home buying process. It allows you to identify issues with the property and know if there are needed repairs that have to be done on the property. Now, the results of a home inspection can be grounds for negotiation. That is, the buyer can ask the seller to lower down their asking price, or the price can be retained while the seller ag...
4 minutes read
Where to buy a home? It’s a common dilemma shared by prospective homebuyers as they weigh what they want versus what they need. Finance website WalletHub somewhat made it easier by listing down the best (and worst) places for first-time homebuyers. The results came from its analysis of 300 U.S. cities based on 23 key metrics assessing market attractiveness, affordability and quality of life. Where to find ...