Don't have enough money to buy your first home? Or want to build equity quickly? One option for entering the housing market is to “house hack” and buy a multi-unit home to rent out to tenants and charge them enough to cover the mortgage, or close to it.
Trying to figure out what your new mortgage payment might be? It can be more complicated than you might think, with taxes and other costs on top of your base payments for mortgage interest and loan principle.
A federal decision on changes to credit scoring rules on new rules that some mortgage lenders consider outdated has been put off for two years, potentially hurting home shoppers with limited credit histories who are "credit invisible.”.
Borrowers eying a very modest home may be surprised to discover that a small mortgage of less than six figures can be even harder to get than a jumbo loan of a million dollars or more, simply because many lenders don't find them profitable.