Before you study up on the types of home loans available, we always recommend determining how much house you can afford first. Once you know what you can afford to pay for a house, then it’s good to know what types of home loans are available. After reading about the different loan types, be sure to fill out the Homes for Heroes mortgage calculator. This calculator is a great tool to estimate your monthly mortgage payment. If you know what you can afford, the following will cover the four main types of home loans: Conventional loan, FHA loan, VA loan and USDA loans. Chances are you qualify for more than one type so spend a little time getting to know the pros and cons of each.
The Homes for Heroes mortgage calculator helps to determine an estimate of how much house you can afford before going through the home buying process. It will help you understand and plan for your ongoing financial commitment if you choose to purchase a home. There are four main amounts that make up your monthly mortgage payment: principal, interest rate, property tax and insurance (PITI). Learn how the Homes for Heroes mortgage calculator breaks out an estimate of each for different loan types and provides a total estimate of your monthly mortgage payments.
Read More “Best Mortgage Calculator to Estimate Monthly Payments”
Buying a house is a big financial investment and responsibility. Your credit score is one thing lenders will look at to determine your financial responsibility; how you use credit and how you manage debt. Unless you can pay cash for your new home, you will need to borrow money in the form of a mortgage loan. The type of loan and interest rate you receive for your mortgage loan depends largely on your credit score and credit history report. Here is some information around credit score and some credit repair tips to help explain how your credit score plays a role in the home buying process, and what is a good credit score to buy a house in 2019.
Making the decision to become a first time home buyer is complex. Or, if you’re looking to purchase your next house, sometimes it’s hard to know where to start. A good first step is answering the question: How much house can I afford?
Buying a house is an important decision and major investment. It’s also a step toward the American dream. Like many Americans, our heroes can be hesitant to make the leap. Many heroes often ask, “Should I buy a house in 2019?” or “When is the best time to buy a house”? It’s a great question. It’s an important question. There are many advantages to becoming a homeowner. But, if your circumstances are questionable, then it might be best to wait. Here are some historical trends and key housing market indicators for 2019 to consider before you decide to buy a home.
Long hours, disgruntled patients, and the daily stress of managing life-and-death situations. At Homes for Heroes, we realize some of the challenges faced by doctors, nurses, technicians and other medical healthcare professionals. You have a difficult and often thankless job. But your contributions to your community do not go unnoticed. We want to thank you for your dedicated commitment and hard work by saving you money on your next home purchase. Whether a first-time homebuyer or an experienced homeowner, here are five ways Homes for Heroes can help healthcare professionals buy a home.
The midterm election is finally over. After enduring the seemingly endless political ads on TV, it’s probably the last thing you want to think about. But if you’re in the market to buy, sell or refinance a home, the outcome of this election may have a profound impact on your prospects. While things may be chaotic during the campaigns, the post-election period brings some much-needed clarity to the housing market. Here’s what to expect now that the election is over.
For many people, the new year brings big changes — and there are few changes bigger than selling a home. You may be ready for a fresh start, but deciding whether you should sell your house is no easy decision. There are a whole host of financial factors to consider, not to mention the emotions that come with leaving a place you’ve made your home. With so much to think about, making the final decision may come down to one simple question: Will 2019 be a seller’s market? The short answer is yes. But it’s not all good news. There are a million factors that affect the housing market, and here are the main points you should consider when deciding to sell your house in 2019.
A deployment is one of the hardest things a member of the armed forces can experience in their military career. But it’s almost equally difficult for families who miss their loved ones and want to see them return safe. Many spouses dream of having their husband or wife come back to a brand-new house so they can jumpstart their lives stateside again. But buying a home is extremely complex, especially if your spouse is overseas and unable to help in the search. That doesn’t mean it’s impossible. Here are some tips on buying a house when your spouse is deployed.
Did you know that it’s possible to buy a house without putting any money into a down payment? That’s right; there are fantastic zero down payment home loans available to finance your new home. Read on to learn more about some terrific zero down payment home loans and how you can get one to buy a house.