An FHA Loan Can Get You a Home

So-So or No Credit? No Cash? An FHA Loan Can Get You a Home If you've never owned a home before, FHA loans offer a great way to break into the housing market. They're federally insured mortgages with easier requirements than conventional home loans. "The secret sauce, the magic ingredient, behind the FHA program is … Continue reading An FHA Loan Can Get You a Home

Get Pre-Approved for a mortgage today, trust me

Why You Should Get Pre-Approved for a Mortgage   What is mortgage pre-approval and how can it help you to get the house of your dreams? Find out the answer here. Image Credit: Getty Images If you're shopping for a home, one of the first things you should do is go to the bank to … Continue reading Get Pre-Approved for a mortgage today, trust me

7 Programs That Help First-Time Home Buyers

~ know of or have used any of these? ~ 7 Programs That Help First-Time Home Buyers Programs with low down payments for first-time home buyers include FHA and VA loans and loans backed by Fannie and Freddie. Others can help you remodel or upgrade a home. At NerdWallet, we adhere to strict standards of … Continue reading 7 Programs That Help First-Time Home Buyers

Fannie Mae will ease financial standards for mortgage applicants next month

Fannie Mae will ease financial standards for mortgage applicants next month  Fannie Mae will ease financial standards for mortgage applicants next month The top reason mortgage applicants nationwide get rejected is because they’re carrying too much debt relative to their monthly incomes. Fannie Mae will be raising its DTI ceiling from the current 45 percent … Continue reading Fannie Mae will ease financial standards for mortgage applicants next month

9 Grants and Programs for First-Time Homebuyers

9 Grants and Programs for First-Time Homebuyers By Rachel Hartman (TNS)—Buying a home for the first time can be daunting. In addition to mountains of paperwork and new financial terms to sort through, you’ll face costs and fees that can quickly add up. In short, purchasing a home isn’t a financial step to take lightly. … Continue reading 9 Grants and Programs for First-Time Homebuyers

HUD suspends FHA mortage insurance rate

  HUD suspends FHA mortgage insurance rate cut an hour after Trump takes office An hour after Donald Trump assumed the presidency Friday, the Department of Housing and Urban Development indefinitely suspended a pending rate cut for mortgage insurance required for FHA-backed home loans. The move — one of the first acts of his presidency — reverses a … Continue reading HUD suspends FHA mortage insurance rate

Congress agrees on changes that may make condos easier to buy and sell

Check out this link to see the changes! This is good news!

The Regulatory Cost of Homeownership

From the MReport 5/12/16 Regulations in the housing market are not only an added responsibility for mortgage companies, but it seems that compliance costs are spilling over into American households. A recent study titled, "Government Regulation in the Price of a New Home" by Paul Emrath, Ph.D., VP of Survey and Housing Policy Research for the National … Continue reading The Regulatory Cost of Homeownership

Prospective Homeowners Held Back by Financial Situation

From The MReport.com 2/9/16 Although rents continue to rise at a rapid pace, many non-homeowners are still shying away from the real estate market due to down payment and credit score troubles. Zillow's Rent Forecast found that rents will flatten in 2016, but will still be unaffordable in most markets. This presents yet another challenge for … Continue reading Prospective Homeowners Held Back by Financial Situation

How Much Down Payment Do You Really Need ?

First-Time Buyers: How Much Down Payment Do You Really Need These Days? 1/20/16 For someone who is thinking of buying a first home, the idea of saving enough money for a 20 percent down payment can be daunting. The good news is a first-time buyer can purchase a home for a little as 3 percent … Continue reading How Much Down Payment Do You Really Need ?