The FHA Loan explained
One of the biggest hurdles that first time homebuyers face is saving up for a sizable down payment on a home. Even experienced homeowners may need to plan for a long time for a new home purchase. Fortunately, FHA loans…
Qualifying for a Mortgage When You Work for Yourself
If you are a freelance employee or entrepreneur, you may wonder how your income stream will impact getting approved for a home loan, or mortgage. While the process can be slightly different, with additional paperwork needed, working for yourself doesn’t…
Buying a Home with No Down Payment Using the VA Loan
Are you a military service member or veteran looking to buy a home? As a benefit of your service, the Department of Veterans Affairs offers unique resources to help those with military experience purchase a home with a low or…
What is Private Mortgage Insurance?
There are various ways to finance the purchase of a new home. The one that many new homeowners use is to get a loan from a traditional bank or credit union, called a mortgage. But what if you aren’t ready…
Buying a Home: How to Get from Offer to Closing
If you’re new to the home-buying game, you have probably been bombarded with new terms. Escrow, home warranty, inspection contingency—one of the most important terms to know and understand is “closing.” What is closing? Closing is an appointment, most often…
15 versus 30 Year Fixed Mortgage
A loan for the purpose of purchasing a home, called a mortgage, is an agreement between a borrow and a lender for a specific amount of money. To be borrowed at a specific interest rate and for a specified length…