When purchasing a home, most people will need to come up with at least some amount of money for its down payment. Many lending programs today will require that a buyer put down a minimum of 3.5%. Although in a number of cases, 10 to 20% will be the norm. Depending on the purchase price [...]
Shopping for a new home doesn't just entail looking for the perfect location and the right number of rooms to meet your needs. For many people, the purchase of a home will also mean that it is necessary to shop for a home mortgage. But with so many potential options that are available from a [...]
Buying a home can entail a long list of factors, which include determining where you want to live, what size residence best fits your needs, and how much house you can afford (as well as the amount of mortgage payment and interest rate). While many people believe that getting pre-approved for a mortgage is a [...]
Prior to getting married or choosing a partner, most people won’t run a credit check. After all, when you love someone, their financial situation really shouldn’t matter. But, when the time comes for you to purchase a home together, his or her credit score could potentially make or break the deal. So, if there are [...]
As President Donald Trump continues to surprise the nation and the world, one thing may be more certain than others - and that is the possibility of mortgage rates going up. In fact, within mere hours of his inauguration back in January, President Trump issued an order that, while it got very little public attention, [...]
If you're active in the U.S. military, or you are military veteran, you could be eligible for some nice benefits when it comes to the purchase of a home. These can include down payment criteria, as well as obtaining an affordable mortgage. Over the past 70+ years, the VA loan program has backed millions of [...]
The purchase of a home can require a substantial financial commitment. In addition to making a new monthly mortgage payment, there can also be a considerable amount of money due up front, before you're even given the key to the front door. But, by shopping around and having a good understanding of what these additional [...]
Taking on a new home loan can be a daunting task. There is oftentimes a stack of paperwork that needs to be signed, which in turn means that you are obligated to make the mortgage payments for the next 15 or 30 years. In order to close on the mortgage and become the owner of [...]
Since the U.S. economic recession of 2008, we've been living in an environment of historically low interest rates. Now, however, as the economy continues its upward movement in its recovery, there is talk of the Fed raising interest rates again. If the current increase in interest rates does occur, this would actually mark the third [...]