Home Purchase Articles

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RHS - Rural Housing Development Loans
Home Purchase

RHS - Rural Housing Development Loans

Applying for a mortgage can sometimes prove complicated. However, there are many different programs that one may be eligible for. You first need to gather information about the qualifications and guidelines for programs such as the Rural Housing Development Loan program. Interest rates can be different with different lenders along with the qualifications and guidelines from one lender to the next.

Kirk Haverkamp
1 year ago
How to make buying a home more affordable
Home Purchase

How to make buying a home more affordable

Worried that you can't afford even an entry-level home in your market? You're not alone. John Burns Real Estate Consulting recently released a study showing that only 54 percent of U.S. consumers can afford a home priced at 20 percent of the median home price in their area.

Kirk Haverkamp
2 years ago
No-down-payment mortgage programs on the chopping block
Home Purchase

No-down-payment mortgage programs on the chopping block

A recent move by federal officials to stop national programs from lending down payments to people who can’t come up with the money on their own to qualify for FHA loans will likely make it harder for first-time homebuyers and lower-income families to buy a home.

Kara  Johnson
2 years ago
Using home equity to buy a second home
Home Purchase

Using home equity to buy a second home

Owning a second or vacation home is a dream for many, but getting a mortgage to buy one can be a challenge. The requirements can be significantly more stringent than those for a mortgage to buy a primary residence. An alternative possibility: tapping the equity in your current home instead.

Kirk Haverkamp
2 years ago
The Higher Costs of Buying a Historic Home
Home Purchase

The Higher Costs of Buying a Historic Home

If you’re the owner of a historic home, you may not be able to say that George Washington slept there, but you should at least be able to find some sort of interesting story you can tell about the house after you’ve secured a home loan.

Kirk Haverkamp
2 years ago
Is your real estate agent looking out for you?
Home Purchase

Is your real estate agent looking out for you?

Your real estate agent is supposed to represent your best interests, right? If you’re selling a home, your agent’s job is to earn you the highest sales price. If you’re buying, your agent’s priority should be to get you into your new home for the lowest price.

Kara  Johnson
2 years ago
Should you avoid PMI? Or buy now?
Home Purchase

Should you avoid PMI? Or buy now?

It’s a type of insurance no one likes to pay: private mortgage insurance, an insurance that protects mortgage lenders if you eventually default on your mortgage loan. Depending on the size of your mortgage, private mortgage insurance, better known as PMI, can add $100 or more to your monthly mortgage payment if you don’t first come up with a down payment of 20 percent of your home’s purchase price.

David  Mully
2 years ago
As Boomers downsize, will Millennials want their homes?
Home Purchase

As Boomers downsize, will Millennials want their homes?

A mass exodus of Baby Boomers from homeownership is projected to happen during the next 15 years or so. Whether leaving for rentals, senior care facilities, dying or downsizing to a smaller home, many more older homeowners are expected to leave their empty nests and sell their homes.

Kirk Haverkamp
2 years ago
Affordability issues may confront 2019 homebuyers
Home Purchase

Affordability issues may confront 2019 homebuyers

Buying a home might be more expensive in 2019. Mortgage interest rates are expected to rise throughout the coming months, making it more expensive to take out all mortgage types. The same is true of home prices. Will you still be able to afford the home of your dreams in the coming year?

David  Mully
2 years ago