Tag: Mortgage

Loans: Is an FHA Right for You?

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Posted on 05/08/2022

If you're in the market for your first home, there's a good chance you'll need to take out a mortgage. One of the most popular mortgage types (especially for first-time buyers) is known as a Federal Housing Administration (FHA) loan. What is an FHA Loan? Specifically, an FHA loan refers to one that is backed and insured by...

FHA

Fha

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Posted on 05/02/2021

Avoid Common First-Time Homebuyer Mistakes With These Tips

Photo by William Fortunato from Pexels Buying a home is a big decision made up of dozens of smaller decisions. With so many moving parts in the process it's difficult to know you’re making the best choices. Some of the most important choices in buying a home have to do with finances. Here we will go over some...

First Time Buyer

Credit Score

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Posted on 01/24/2021

How to Determine Your Lending Eligibility for an FHA Loan

FHA loans have long been a valuable resource for Americans who want to fulfill their goal of homeownership but who don’t have the benefit of a lengthy credit history and equity. If you’re hoping to buy a home in the near future but want to explore all of your options in terms of financing, this article is for you....

FHA Loans

Buying A Home

How a Land Contract Differs from a Mortgage

Posted on 08/23/2020

Image by mohamed Hassan from Pixabay A land contract and a mortgage have a number of similarities. For example, you can use either option to purchase a home Both loans must be repaid on a monthly basis. Understanding the Differences A land contract is a legal agreement between a buyer and a seller. Rather than a traditional mortgage...

Choosing the Right Mortgage Type

Posted on 07/12/2020

Photo by Alexander Stein via PixabayWhen it comes to a mortgage, most of us think of the same standard product; the 15 or 30 year conventional mortgage offered by banks and lenders. This is not the only mortgage option you have, though. Depending on your personal history and circumstances you may qualify for an attractive mortgage with lower...

3 Ways to Prepare Your Credit Before House Hunting

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Posted on 06/14/2020

Photo by bongkarn thanyakij from Pexels Shopping for a new home should be an exciting experience, but if you are unsure of where you stand with your credit, it can be a little nerve-wracking. Having good credit will not only help you to secure more favorable interest rates for your mortgage, but it can also help you to...

Loan

Keeping a Personal Mortgage Calculator

Posted on 07/14/2019

If the nerd in you comes out as soon as someone starts talking numbers, you might find yourself wondering how hard it is to create a mortgage calculator. Technically called an amortization calculator, the numbers you put into the calculation tell you what your payment each month breaks down to in terms of what goes to the principal...

How to Save for a New Home

Posted on 06/23/2019

The idea of homeownership can seem daunting if you doubt you can save up a down payment. After all, even a modest house on a conventional mortgage requires twenty percent plus the closing costs. When saving up seems out of reach, try these creative tips to grow your nest egg: Delay gratification A lofty word for a simple...

Saving Money

Down Payment

VA Loans: Frequently Asked Questions

Posted on 10/22/2018

We all know that buying a home is expensive. For first-time buyers who don’t have the luxury of equity for a down payment, it can be difficult to find a way to finance your home without taking on a huge interest rate and mortgage insurance.Fortunately, loan programs like those offered by the U.S. Veterans Affairs can be a godsend....

Va Loans

VA Loans: How Veterans Can Get the Best Rates on Mortgages

Posted on 10/15/2018

There are a number of programs, government-sponsored and otherwise, that are designed to help aspiring homeowners find and get approved for a mortgage that works for them. Among these are first-time homeowner loans insured by the Housing and Urban Development Department, mortgages and loans insured by the USDA designed to help people living in urban and rural areas, and...

Va Loans