Do you need help saving to buy a house? What you think you need and what you actually need may not be the same. Here is what you should know when saving for a home. In order to purchase a home, you need at least 3.5% for a down payment. Another option is Down…
Are you looking to afford a mortgage? A 50 year mortgage may be an option, but here are some things to consider when looking at a long mortgage term. These loans are not bought and sold by Fannie Mae or Freddie Mac. They are smaller banks and portfolio lenders that offer unique financing and as…
Are you looking to purchase a home? Are you self-employed? The rules to make this happen just got easier. Freddie Mac has recently announced upcoming changes on how vendors can use your income to qualify you for a home. If you are a self-employed borrower, lenders will be looking at your loan application with a…
Are you buying a home? This common mortgage mistake can end up creating more unnecessary challenges for you during the underwriting process. Here are the things you should look out for… When you are buying a home, you need to show your lender that you have a down payment and access to funds to close.…
Buying a home in a competitive market means you need to have all of your ducks in a row. You can be successful in this by putting your best foot forward before the starting gate. One way to spruce up your offer is to write a letter to the seller. All sellers have different reasons…
Most people will tell you that you must have excellent credit and a big down payment to secure a larger mortgage. The reality is that while having a big chunk of cash to put down on a house is nice to have, it is not always an absolute requirement. Here is the information you should…
Your ability to save money can become compromised by the financial obligations you are paying in your life. If you have a mortgage and consumer debts, this article will help you determine: Should you stay the course or take action to start getting control of your cash? The nuts and bolts of a good financial…
In order to buy a home, you need to have a balance of good credit, manageable debt, stable income and sufficient savings. Maintaining a balance between these four categories is challenging enough on its own, never mind coming up with enough cash to close on your potential new home. The amount of money you have…