Buying a home is a big decision and can often be daunting, especially for first-time homebuyers. One of the biggest challenges facing first-time buyers is coming up with a down payment, typically 20% of the home’s purchase price. However, options are available that require a lower down payment, such as down payment assistance (DPA) programs. …
On February 16th, 2021, the Department of Veterans Affairs (VA) announced a change to the funding fee charged on VA loans. The funding fee is a one-time fee charged to borrowers using a VA loan to help offset the cost of administering the program. The new announcement stated that the funding fee would be lowered …
FHA loans will become more desirable and affordable. The US Department of Housing and Urban Development (HUD) announced today that it would provide lower monthly mortgage insurance premiums on Federal Housing Administration (FHA) loans. This move is aimed at helping more Americans achieve homeownership by making it more affordable. Why FHA FHA loans are popular …
Are you considering relocating to a different area or another state? Lower cost of living, a better quality of life, or to be closer to family. Whatever the reason, Americans have been relocating at an increased rate since the pandemic. With housing much cheaper in many areas, it is easy to dream about what life …
When purchasing a home, three main components determine your eligibility. They are income, down payment, and credit history. It gets complicated (especially for those outside the industry) because each is interrelated and interdependent. Think of guidelines more like a cobweb than a neat and linear web. This makes it particularly hard to get a straight …