Don't have enough money to buy your first home? Or want to build equity quickly? One option for entering the housing market is to “house hack” and buy a multi-unit home to rent out to tenants and charge them enough to cover the mortgage, or close to it.
A federal decision on changes to credit scoring rules on new rules that some mortgage lenders consider outdated has been put off for two years, potentially hurting home shoppers with limited credit histories who are "credit invisible.”.
Don't have a credit history? Believe it or not, there are loan programs out there that can allow people who've paid their bills on time but haven't established a conventional credit history to qualify for a mortgage.
Property taxes and homeowner's insurance are typically billed along with your monthly mortgage statements, so don't neglect to take them into account when determining how much home you can afford to buy.