If you are in the market to buy a fixer-upper home, you will need financing that allows this type of purchase. Your standard conventional or FHA loans will not allow financing on the home if it needs extensive work. It must pass the appraisal as-is, giving you a value for the home that is equal to or higher than what you bid. If that’s not the case, you’ll need a loan like the FHA 203K loan.Get Matched with a Lender, Click Here.This loan offers you the opportunity to buy a home and fix … [Read more...]
Georgia Dream Homeownership Program for First-time Homebuyers
Buying your first home doesn’t have to be overwhelming or unaffordable. The Georgia Dream Homeownership Program helps first-time homebuyers get the home they want with affordable financing in Georgia. Aside from the mortgage itself, the program also offers homebuyers help with the down payment if they need it.Looking for Current Mortgage Interest Rates? Click Here.Eligible homebuyers may receive up to $5,000 to help with the down payment. In some cases, though borrowers may get as much … [Read more...]
Start Spreading the News! Here Are DPA Programs in New York
Do you ever wonder what it's like to live in The Empire State? If you've been thinking about buying a home in the state of New York, you've probably wondered about it a lot.When you think about New York, it's not just about New York City. Although the lights and sounds of NYC are iconic, the entire state is not just about skyscrapers, Broadway, or Central Park.In fact, New York is home to some of the great outdoor adventures like hiking and skiing in the in the Adirondack Mountains. … [Read more...]
Dear Homebuyers in Indiana, Here Are DPA Programs For You!
Home buying requires a lot of money. Thankfully there are different DPA programs offered both for local and national levels. This way home buyers will have a lesser worry on saving for a lot of homebuying costs and will be more at ease as they go along with the process.Like any other state, Homebuyers in Indiana have their quite a number of DPA programs for those who want to qualify for one. Next Home Next home is one of the DPA programs available for homebuyers in Indiana. This program is … [Read more...]
Get to Know Different Down Payment Assistance Programs in Tennessee
When you decide to buy a home, getting your finances ready is required. For some, there are just not enough funds to help cover your homebuying expenses.Saving for a down payment is still one of the biggest challenges a potential homebuyer has to face.Good thing there are different down payment assistance programs that are ready to provide help to homebuyers who do not have enough funds to purchase their dream home.The best way to find financial assistance is through checking with … [Read more...]
South Dakota Homebuyer’s Guide to Down Payment Assistance
It's no secret that saving for a down payment can be quite difficult especially if you don't have extra income to set aside for it.It's a good thing there are down payment assistance (DPA) programs all over the country to help homebuyers get funds to cover the out-of-pocket costs that come with home buying.DPA programs are helping countless homebuyers fulfill their dreams of homeownership. Since these programs are usually offered through a local housing authority in your … [Read more...]
Vermont to Raise $37MM to Support Affordable Housing for Residents
This January 8, the Vermont Housing Finance Agency or VHFA will sell $37 million in bonds toward the creation of more affordable, decent, green housing for low- and moderate-income residents across Vermont.These sustainability bonds are issued as part of the statewide initiative, “Housing for All”, creating half a thousand units of affordable housing in Vermont.Learn more about other state/local programs. Affordable Housing in Vermont Housing for All, according to VHFA’s official … [Read more...]
Should You Just Give Up the American Dream?
Highly appreciating home values and rising interest rates are some of the strongest factors putting a strain to affordability. What does this mean for the American home buyer? Home prices are at their historical peaks in the country’s biggest metros. Interest rates, though remaining historically low, are projected by experts to increase and reach the 5 percent tier by the end of 2018. Mortgage underwriting for conventional loans remain tight. All these converging factors are making … [Read more...]
Borrower’s Guide to DPA Programs in Washington
Buying a home is not easy. It costs a lot, too. There's no need to sugarcoat it. This is where financial assistance comes in. Getting a mortgage is a long and critical process but it's key to making your homeownership dreams come true.Even with a mortgage, you'd still be required to give a down payment. That does not come cheap either. While there are low down-payment mortgages available, sometimes a 3 percent down payment can still be a lot.Enter down payment assistance … [Read more...]
Home Loan Basics: What’s a Private Mortgage Insurance (PMI)?
The down payment is a very important part of mortgage financing. It greatly influences the interest rate that applies to your loan. It may even determine if you get a home financing or not.The size of your down payment also dictates whether or not you will have to pay for a private mortgage insurance (PMI). If you pay less than 20 percent of the home value as down payment, a lender may require you to get a private mortgage insurance. What is a Private Mortgage Insurance (PMI)? A PMI is a … [Read more...]