
5 things to remember when buying a ‘For Sale by Owner’ home
Buying a "for sale by owner" home, or FSBO, can save you 6 percent of the cost of the house if neither side uses a real estate agent.

Buying a "for sale by owner" home, or FSBO, can save you 6 percent of the cost of the house if neither side uses a real estate agent.
There are plenty of requirements you must meet when applying for a new mortgage or when you plan to refinance your existing loan. Lenders will look at your debt levels, income and credit score. They’ll also look at your employment history. Fortunately, getting a mortgage with a new job is far from an impossible task.
You can still qualify for a mortgage with a low down payment of just 1 percent of your home’s purchase price. Several lenders have been offering these low down payment loans since 2015.
If you're looking to buy a fixer-upper home and renovate it, you might be considering Fannie Mae's HomeStyle Renovation program. The program, like similar products offered by private lenders and with FHA loans, allow you to include both the costs of buying a home and those needed to renovate it all in one loan product.
Coronavirus and Your Home Mortgage
Coronavirus (COVID-19) information guide: Key points relating to home loans, forbearance, mortgages, refinancing, real estate and the housing market.
Buying a home for your parents to live in is basically buying a second home with another mortgage added to your monthly bills. That can be difficult to do, though there are two other options if adding another mortgage bill to your finances isn’t possible.
Applying for a home loan can be an intimidating process. It's one of the things that can cause first-timers to drag their feet the feet on buying a home. Even homeowners who've been through it before may put off refinancing simply because they fear an extended and cumbersome process.
What is a second mortgage? It's any loan secured by the value of your home, aside from the main loan used to buy the home itself. That one is called your primary mortgage; any other loans secured by your home are called second mortgages, no matter how many there are.
Homeowners insurance isn’t as price-competitive as auto insurance, making it one of those things you have to buy — mortgage lenders require having homeowners insurance set up before a home loan is finalized so that their collateral is protected — but something that many people are likely to shop for once and then forget about it.
There are many different types of mortgage loans. Though many people simply think of a mortgage as the loan used to buy a home, in reality a mortgage is any type of loan that is secured by home equity.
One of the main concerns people have about home equity loans has to do with how they are affected by tax policy. Specifically, what are the rules when it comes taxation and taking a deduction for the home equity loan interest that you pay?
New mortgage rules meant to protect consumers from bad lending practices may have another impact - forcing home buyers to get their financial house in order.