Home Buying

New Home Sales Hit 2 Year Low but Is It a Bad Thing?

Data released in September 2018 indicates that new home sales have declined to a two-year low. According to Yahoo.com, rising mortgage rates and higher home prices are affecting the housing market. The data for the last three months also has been revised down. There have been declines in home building, permits and housing completions in… Read More »

8 Things You Must Know Before Starting the Mortgage Process

Mortgage rates have been rising in 2018 as the US economy is gathering strength. Some renters who have been on the fence about buying a home have been starting to think about getting into the market before rates nudge above 5% in the next year or so. But buying your dream home is not as easy… Read More »

Reduced Doc and Stated Income Loan Programs for First Time Home Buyers

Reduced documentation and stated income home loan programs almost disappeared after the last financial downturn. Too many people who had questionable income sources were not fully verified and vetted by mortgage loan companies, and many could not afford to pay their mortgage payments when interest rates increased almost a decade ago. After the mortgage meltdown,… Read More »

8 Special Military Home Loans Guaranteed by State Governments

Most military members and retired military know about the VA home financing programs for getting a home loan guarantee with 100% financing, low interest rate and no mortgage insurance. The VA mortgage loan can be a great deal for many veterans and active military. But did you know there are other special home loan programs… Read More »

How Much of a Down-Payment Do I Need to Buy a Condo?

If you are considering the purchase of a condominium, you may wonder how much of a down payment you need to get a mortgage. Depending upon the lender and other factors, you will probably need somewhere between 3% and 20% down to buy a condo, with 10% being the most common for people with condo… Read More »

Guide to Financing a Second Home in Today’s Loan Market

Do you want to buy a second home? You probably have many questions about how to finance a 2nd-home. Whether you want to buy a second home for vacations or as an investment property, getting financing for this type of property comes with some challenges that you should be aware of. This article will explain… Read More »

How to Buy a House with Little Money Down and Average Credit Scores

One of the biggest barriers to buying a home for many Americans is the down payment. But many first-time home buyers have misconceptions about the down payment that is required, as well as what credit scores are needed. According to the National Association of Realtors, 85% of first time buyers think they need 10% down… Read More »

Essential Guide to Manufactured Home Loans in 2018

Potential home buyers who want to get a manufactured home often wonder how easy it will be to get financing for these properties. While home loans for manufactured houses are not as plentiful as regular homes, there are still some options available, including from government backed home loan programs such as FHA. Most people are… Read More »

What Is the First Time Home Buyer Tax Credit in 2018?

First time home buyers who are looking for a tax credit could be thinking of the federal program enacted under President Obama. Unfortunately, that program ended several years ago and the 2018 first time home buyer tax credit does not exist. It was enacted in the aftermath of the last financial crisis to help first… Read More »

What is a Jumbo Loan Amount?

People who are shopping for a more expensive home, especially in a higher cost of living area, may consider a jumbo mortgage program. A jumbo loan is a type of mortgage where the amount is more than the conforming loan limits established by the FHA. So, unlike a conventional, conforming loan, it may not be… Read More »

Top Freddie Mac Loan Program for Home Buying and Refinancing

People who want to buy their own home have a variety of mortgage options available through Freddie Mac loan programs. Below is more information about the best Freddie Mac mortgage programs available for buyers and those who want to refinance. Freddie Mac mortgage rates continue to be competitively priced with housing affordability always being a… Read More »

Fannie Mae Home Path Loan Program Opportunities in 2018

Fannie Mae works closely with mortgage loan companies and other stakeholders in the real estate and finance industries to help home owners who have Fannie Mae loans to avoid a foreclosure. However, there are some situations where a foreclosure is unavoidable. When a foreclosure does occur, the goal of Fannie Mae is to sell the… Read More »

Co-Borrower Loan Requirements to Be Eligible for Home Mortgages

There are many potential home buyers in the US who may have difficulty getting a home loan in 2018 on their own. Experts recommend that they add a co-borrower to the mortgage application. With the co-borrower’s income, it may be more likely that you can get approved for a home loan. If you are considering… Read More »

Guide to Government Home Loans

How much do you know about government home loans? First, when we say that, what we really mean is that the loan is backed by the full faith and credit of the federal government. If you default on the government home loan, the US government reimburses the lender for most of the loan balance. The… Read More »

Current FHA Mortgage Loans and Rates

You may have heard that the current FHA mortgage rates continue to be offered near record low levels this year. Consumers residing in the United States are blessed with easy credit rules and low down-payment requirements under the FHA mortgage program. The underwriting system has been significantly automated and more and more people are getting… Read More »

USDA Home Loan Requirements for 2018

Renters who want to buy a piece of the American Dream and get a home of their own in 2018 may want to consider a USDA loan. Did you know that USDA home loans are available with 100% financing, low mortgage rates, affordable payments, and plenty of underwriting flexibility? If you are weary of paying… Read More »

5 Secrets to Get a Pre-Approval for Mortgage Loans in 2018

Shopping around for a new home is a lot of fun, but people who are really serious about buying a home should seek a pre-approved mortgage from lender people trust. As a potential home buyer, you will have a lot of credibility and knowledge on your side if you get a pre-approval mortgage letter from… Read More »

How to Qualify for VA Home Loans in Today’s Market

Are you active or retired military? You may be able to qualify for a Veteran’s Administration financing, also known as the VA home loan. For borrowers who are or were in the US military, VA home loans are one of the best options for people serving in the U.S. Armed Forces to buy a house.… Read More »

2018 Guide to Home Construction Loans

If you are planning to build your own home this year, you will probably need a new home construction loan. This article will highlight the critical parts of construction loans so that you can make an informed decision on how to finance new home construction loans. Talk to Experienced Construction Mortgage Lenders in Your Area.… Read More »