Home buyers are typically advised to put at least 20% down for a mortgage. Coming up with that amount can seem almost impossible if you have little to no money left over after paying bills each month. Fortunately, if you want to buy a house but are worried about coming up with the 20 percent down needed for a downpayment, you still have plenty of options. There are still plenty of programs that allow you to buy a home with a low down payment or even no money down in 2018. Here are some … [Read more...]
How To Qualify For An FHA Loan
Borrowers who cannot qualify for a conventional mortgage are often able to obtain an FHA loan. However, to secure this type of loan, you must still meet certain requirements. What Is an FHA Loan? FHA loans are mortgage loans that are backed by the Federal Housing Administration. It is designed to help borrowers who are unable to meet the requirements for a conventional mortgage or other types of financing. These loans can be used to purchase single-family and multi-family homes. What Are the … [Read more...]
Financing Your Solar Roof
Going solar can make life sunnier for some homeowners. In addition to reducing energy dependence by "borrowing" energy directly from the sun, purchasers may also enjoy a 30 percent federal Solar Investment Tax Credit and other incentives, according to SEIA. Solar roofing can boost a home's equity in some cases, while making it more attractive to future buyers in sun-drenched parts of the country. Best of all, financing that solar roof may be a more attainable goal than homeowners think. … [Read more...]
5 Key Factors That Affect Your Mortgage Rate
Many first time home buyers often wonder what factors determine their mortgage rate. Is it their credit score? Is it the type of loan chosen? Is it the size of the loan? The truth is, there are many factors at play. Mortgage interest rates are not standardized across the board, so they vary from lender to lender and from borrower to borrower. Here are 5 common factors that determine or affect your mortgage interest rate: 1. Default Risk Risk is a key consideration when … [Read more...]
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