Search results for: First Time Home Buyer

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How does piggybacking loans work?

'Piggybacking' loans has become the most popular way to purchase a home over the past few years. This avenue of financing serves two main purposes. First, it allows the buyer to purchase a property with no down payment. With the current prices of homes it has become increasingly difficult for first time buyers to save even 5% of the asking...
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Guide for first time home buyers

What can you afford? One of the biggest mistakes prospective buyers make is not understanding or realizing how to budget for a new home. Not only the closing costs associated with the purchase but also understanding the monthly payments involved. If you are looking for purchase your first home with a no down payment/100% financing...
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Traditional purchases with Down Payments

First time home buyers have always looked at putting some range of a down payment on a home. These down payments can range from as little as 3% up to the traditional 20%. The twenty percent down payment was always the standard, in this scenario you would walk in owning a good portion of the home, avoid paying PMI (private mortgage...
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how to choose from home loan types?

A home loan is for most of us, a once in a lifetime decision. Being a very important and difficult decision with which you will have to live for the rest of your life and probably pass it on to the next generation, you need to be extremely cautious and explore all of your options. Which type of home loan is best for you? Well, below is a...
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Basics of FHA loans

FHA (Federal Housing Administration) loans have been available for over 60 years. These loans offer chances to borrowers and first-time home buyers for financing when they may not meet conventional lending guidelines. First-time home buyers benefit greatly from FHA loans because the ability to finance up to 97% of the value of the...
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how do you find the best home equity line of credit rates?

You finally found the dream house that you want to live and grow old in. However, you don't have the ready money for it and plan to get a bank loan which in turn will require you to get private mortgage insurance. How to avoid private mortgage insurance The only way to avoid private mortgage insurance is to make a down payment on the...
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