June is National Homeownership Month, a time to celebrate the dream of owning a home and offer guidance to those preparing to take that important step. One of the most impactful things you can do right now is to begin building or improving your credit. If you plan to purchase a home in the next 6 to 12 months, the work you do today could make a major difference in the loan terms you receive later. Check your credit report first. Before anything else, it is important to know where you stand. You … [Read more...]
The Top 3 Home Loan Programs First-Time Buyers Should Consider
Buying your first home is an exciting milestone, but navigating the mortgage process can feel overwhelming. With so many loan options available, it is important to choose one that best suits your financial situation and long-term goals. Here are three of the most popular home loan programs that first-time buyers should consider. 1. FHA Loan: Ideal for Buyers with Lower Credit Scores and Small Down Payments The Federal Housing Administration (FHA) loan is a popular choice for first-time buyers … [Read more...]
Can I Buy a Duplex with an FHA Loan?
If you're in the market to buy a duplex or similar multi-unit property, you may be wondering whether you can use an FHA loan to finance your purchase. FHA loans are well-known for helping first-time homebuyers, but they can also be used to purchase duplexes. Here's everything you need to know about FHA loans, how they work, and whether they're a good fit for your homebuying plans. What is an FHA Loan?An FHA loan is a mortgage insured by the Federal Housing Administration, designed to make … [Read more...]
Getting Your Mortgage Application Approved As A Self-Employed, First-Time Homebuyer
A significant number of people are self-employed, which means they might be relying on this income to apply for a mortgage. It is true that people who are self-employed may face additional challenges when trying to get approved for a home loan when compared to someone with traditional W2 income, these are obstacles that can be overcome. With the right qualifications and documentation, even first-time homebuyers who are self-employed should be able to qualify for the home loan they need. Lenders … [Read more...]
