Buying a home for the first time can be a challenge, especially when it comes to gathering enough funds to cover a down payment. Fortunately, there are a host of first-time homebuyer programs that can help ease the financial burden of coming up with a huge down payment.
Home Purchase Articles
For many who lost their homes during the crash, 2017 is the magical seven-year mark that the foreclosure drops off their credit report. Millions of these "boomerang buyers" are ready to stream back into the housing market, proof that lenders are forgiving even when it comes to the ultimate mortgage mistake.
Closing costs aren't just something home buyers need to worry about. There are also home seller closing costs that can take you by surprise if you aren't prepared.
Fannie Mae’s HomeReady home loan program offers many features that first-time homebuyers would want: Low down payments, a generous debt-to-income ratio, soft credit score requirements, and not being stuck with mortgage insurance for the life of the loan.
Struggling to come up with enough of a down payment to buy a home? A relatively uncommon mortgage type known as a shared-equity mortgage might be the solution.
The spring home-selling season is nearly here. If you’re ready to buy a new home, you’re probably itching to tour new condos, Victorians and Cape Cods. But before you head off to even your first showing? You need to make some smart financial moves to remove as much stress as possible from the mortgage-lending process.