A conventional loan for first-time home buyers is a traditional mortgage loan that meets the parameters set by Freddie Mac or Fannie Mae. Conventional loans require some percentage of down payment, depending on the mortgage you choose, and your credit score typically must be 620 or higher. In addition to credit score, conventional loans for Read More…
Home Buying Tips
Bank Statement Loans for First-Time Home Buyers
Bank statement loans for first-time buyers are a way to secure a mortgage using non-traditional means. When you have self-employed income that you are depositing into a bank account, you can obtain a mortgage through a bank statement loan. A bank statement loan can make it easier for business owners, contractors, and freelancers to provide Read More…
Adjustable-rate vs. Fixed-rate Mortgages
If you are thinking about purchasing a new home, you might not be in a position to purchase a home with cash alone. Fortunately, you do not need to save up hundreds of thousands of dollars to qualify for a house. There are plenty of loan options available, but every buyer is in a different Read More…
What Credit Score Is Needed For First-time Home Buyers In 2022?
Are you interested in purchasing a new home in the near future? You might be buying a home for the first time, which is why you need to think carefully about your credit score. It is one of the most important factors that will dictate whether you qualify for a home loan. Regardless of whether Read More…
How To Get The Best Home Loans For Bad Credit
Having bad credit doesn’t always mean that you won’t be able to get a mortgage or home equity loan, although it does complicate your efforts. There are ways for you to get the funding you need to buy or borrow against the equity of your home even when your credit rating isn’t great. The following Read More…
How Much is the Average Down Payment on a House?
If you are thinking about purchasing a house, there are a lot of steps you need to complete. One of the most important steps is to accumulate a down payment. A down payment is the amount of money that you have to put towards the principal value of the house at closing. Learn more about Read More…
Types of Home Loans
If you are interested in purchasing a home, there is a good chance that you will have to take out a mortgage. Not a lot of people can purchase a home with cash, but thankfully there are multiple types of mortgage loans to choose from. It is important to think about the different types of Read More…
How to Apply and Qualify for the First Time Home Buyer Grant
If you are interested in purchasing a house for the first time, you have probably realized that there are a lot of hoops that you have to jump through. Even though it can look like a significant challenge to purchase a house on your own for the first time, there are tools that you can Read More…
Earnest Money
If you are interested in purchasing property, you may have to take out a loan. There are different types of loans available, including FHA loans, investment property loans, and even a VA home loan. At the same time, before you can purchase the house, you may be required to place an earnest money deposit. If Read More…
Escrow Explained
If you are thinking about applying for a home loan, there is one word that is going to come up over and over again: escrow. So, what is escrow in a mortgage, and what do you need to know about mortgage escrow? There are some situations where this could be beneficial, and there are other Read More…
