The short answer is Yes. But read on for a few considerations, suggestions and a caveat or two to prepare your finances before you apply. A large percentage of recent college graduates have student loan debt, often totaling tens of thousands of dollars. While having significant balances might make it harder to become a homeowner,… Read More
First-time home buyers often have an issue with their credit score, not because it’s bad but because it’s non-existent. No worries you’re not alone, somewhere close to 50 million adults do not have a credit score. Nevertheless, an acceptable credit score is crucial if you plan on applying for a mortgage. Before you begin the… Read More
When you’re shopping for a low mortgage interest rate, keep in mind that widely advertised rates for home loans are usually designed for home buyers with “very good” to”excellent” credit scores. — Understanding Your Credit Score — That’s not meant to imply that you can’t get a mortgage if you have a “fair” credit rating,… Read More
Using credit responsibly is an integral part of your personal finance. Not only is credit a key factor in securing a mortgage when buying a home, vehicle or other major purchase, landlords and property managers invariably look at credit before approving new renters, as do insurers, utility companies and employers. It’s not always easy to… Read More
I might venture a guess that better than half of all home buyers, and a great majority of first-time buyers, choose an FHA mortgage. Home loans come in a variety of flavors but the FHA loan, insured by the Federal Housing Administration, offers benefits not found in most other options, not the least of which… Read More
Mortgage Closing Costs 101. It goes without saying that buying a home is a major financial investment. It is advisable that you understand how much more goes into budgeting for a new home other than monthly mortgage payments. Closing costs are one of those budget entries. Click to view “Who Pays for What?”. Closing costs… Read More
This is the Age of Diversity in Home Buying. 2015 and 2016 saw a noticeable influx of Baby Boomers re-entering the Real Estate Market. An estimated fifty-nine million Americans are considering buying a home in 2017. So which demographics are at the front of the pack this time? Generation X (ages approximately 33-50) and Minority… Read More
1 in 40 American Families Deal With Child Identity Theft. This isn’t purely a homeowner issue but I feel it belongs here nonetheless. It’s a family issue. A community issue. You protect your children from physical dangers in your home. You protect them from dangers in and out of your neighborhood. Whether it’s screening care-givers,… Read More
The Surprisingly Simple Evolution from Renting to Home Buying. As a long-time tenant you might not expect that you could be comfortable with the home buying process. But in my experience folks who have rented for years are often the most conscientious and well-informed home buyers. After working with several long-time renters-turned-buyers recently, I’ve come… Read More
Video: What’s the Word on Mortgage Lending Standards? Better. Mortgage lending regulations, along with mortgage interest rates, are fickle. Just when you think you’ve got a handle on them, they will change. Fortunately for home buyers mortgage lending standards have recently been changing for the better. At the end of last year and the first… Read More
