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Mortgage

Proof of Income for a Mortgage

Income verification is a basic part of applying for a home loan. But there's more to providing proof of income than just handing over a couple of paystubs. You need to be able to show your earnings are stable. When making a down payment, you may have to be able to show the source of that money as well.

7 months ago

Home Purchase

Delayed Financing Offers Buyers the Power of All-Cash Purchasing

Want to get the best deal on a home? Pay cash. Want to outbid a bunch of other buyers seeking the same property? Pay cash. Want to buy a fixer-upper that the bank's leery of financing? Pay cash.

7 months ago

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Home Equity Loans

Challenges of Getting a Home Equity Loan on Rental Property

Like many types of loans that were easy to get years ago during the housing crisis, home equity loans and other loans to cash out on equity in rental properties were relatively easy to get. Now, not so much.

7 months ago

Student Loans

The Ultimate Guide to Student Loans and Scholarships

Your brother got a free ride for college on a basketball scholarship, and your best friend has a hefty inheritance. Will you have to attend the local community college, or just wash a lot of cars to pay for the university of your choice? Don't worry…no matter your situation, there are loans to fit your needs.

7 months ago

Mortgage

Cold feet? Backing out of mortgage could cost you

It's not uncommon for home buyers to get cold feet when it's time to sign the papers that make their mortgage loan official. Taking on a monthly mortgage payment is a serious financial responsibility. Seeing all that new debt on paper can make even the calmest home buyer sweat a bit.

7 months ago

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FHA Loans

An FHA rehab mortgage is perfect for fixer-uppers

As local housing markets get tighter and tighter, buying a fixer-upper with an FHA rehab mortgage loan may be your ticket to to a home in that perfect neighborhood.

7 months ago

Home Purchase

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.

7 months ago

Home Purchase

Can you get a 1 percent down mortgage? Yes, but act fast

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.

7 months ago

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Home Purchase

Fannie Mae HomeStyle lets you buy and renovate with a single loan

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.

7 months ago

Mortgage

COVID-19 Guide: Coronavirus & Home Loans

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.

7 months ago

Home Purchase

3 options for buying your parents a home

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.

7 months ago

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Home Purchase

What do you need to apply for a home loan.

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.

11 months ago

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