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Buying a home is exciting, but it’s a big commitment too. So before jumping into homeownership, you should understand what it takes to manage your money after buying a home. Of course, no two homeowners will use the same…
It’s a common myth that you need perfect credit to buy a house. The truth is you don’t. You can buy a home with an average or sometimes even a low credit score. Of course, an excellent credit score…
Introduction Explanation of what an FHA mortgage is A Federal Housing Administration (FHA) mortgage is a government-backed loan program designed to help homebuyers secure affordable financing for their homes. It was established in 1934 as part of the National Housing…
When it comes to buying a home, there are two main types of mortgages to consider: FHA mortgages and conventional mortgages. Here are some key differences between these two mortgage types to help you decide which one is right for…
You applied for a mortgage and know the principal and interest, but do you know what else goes into your home’s monthly costs? Your mortgage payment usually includes more than principal and interest, depending on how you set it…
For many people, buying a home is a major financial goal. Owning a home offers many advantages over renting, as it provides financial security, stability, and a sense of pride of ownership. In addition, owning a home can be a…
When you’re thinking about buying a home, you’ll most likely will need financing. Understanding how the mortgage process works and what you must do to get approved can make the home-buying process much less stressful. Here’s how the mortgage process…
The mortgage pre-approval is the most important initial part of the mortgage process. It’s the key to closing your loan on time and getting the financing you need. It’s strongly recommended to get pre-approved before looking at homes. It streamlines…
Buying a house with no down payment is possible. It sounds crazy, but there are loan programs that don’t require money down; however, you must still cover the closing costs, in some cases. So you’ll need some money to close…
If you’re considering buying a new home but don’t have enough money saved for a down payment, a down payment assistance (DPA) program may help. DPA programs help first-time homebuyers secure funds for a down payment and closing costs, so…
