Buying a manufactured home is a relatively inexpensive way to ender the housing market - the average sales price in 2013 was $64,000, compared to $324,500 for a single-family home, according to the Census Bureau.
Coming up with a 20 percent down payment on a home can be difficult, especially for first-time homebuyers who don't have the equity that existing homeowners may have when selling one home so they can buy a bigger one.
You might lie about your weight when it's time to renew your driver's license.You might lie to your doctor about how many doughnuts you eat each week.But when it's time to apply for a mortgage loan? That's when honesty really is the best policy.
It's no secret that the past few years have been difficult ones for borrowers with poor credit who are seeking mortgages.But now, at least one mortgage lender is making a specific effort to reach out to them.
When shopping for a home or looking to refinance, everyone wants to know what kind of deal they can get on a mortgage.Of course, some people end up paying considerably more than others.Some of the reasons for that are fairly obvious, others not so much.
Small business owners and the self-employed who have difficulty being approved for a traditional home mortgage because they can't provide pay stubs or tax returns to show their income are getting some relief.
Manufactured homes offer an affordable and popular housing option for many, particularly those with modest incomes.However, purchasers often end up using financing that costs them considerably more than they would spend on a mortgage for the same property.
People who are looking to minimize their monthly mortgage payment sometimes consider a 40-year loan.While this can be a useful product for some borrowers, it's one that you need to approach with caution.