Many people think government assistance is only for the lower income borrower. But there are several ways average Americans can get help buying a home – if they meet the requirements.
If you qualify for a government-backed mortgage because of your military service, your geographic location or your income, you might get surprisingly good terms. In many cases it’s a better deal than taking out a conventional mortgage, which isn’t backed by the federal government.
Let’s look... [More]
You've decided to purchase your first house - congratulations! You’ve hired a real estate agent and a few weeks later you find your dream home. Now you need to get the loan process started, so you research and choose a lender and before you know it you are in their office filling out papers and talking numbers.
This is the part where you will likely have numerous choices on which loan program works for you. Some programs have mortgage insurance, while others do not. Some programs require g... [More]
Saving enough for a 20% down payment on a home can be one of the toughest financial challenges most people will ever take on. With the median existing U.S. single-family home price at about $213,000, that means pulling together more than $40,000 – a veritable mountain of cash. Yet reaching that goal can be done. It just takes planning, patience and discipline. Here are some tips to help you map your path to home ownership: [More]