The pros and cons of down payment assistance fall into two categories: people love them or people like them. As with most financial assistance, there are usually hoops to jump through and requirements you must meet. When you weigh that against the benefits of getting free, or almost free, money for your down payment, you see what we mean.
Read More
“Pros and Cons of Down Payment Assistance Programs”
The recommended down payment on a house in the U.S. is a hotly debated topic. If you are old school, it’s 20%. If you are a first-home buyer, that’s a rather big hurdle. It makes the prospect of owning a home seem out of reach. There’s good news: there is no one answer to the question of what kind of down payment you need for a house. It all depends. Let’s look at some of the factors that can affect your down payment.
The USDA loan down payment and the USDA loan program, if it fits your situation, is a remarkable opportunity to save a lot of money when purchasing your new home. The initiative comes from the United States Department of Agriculture (USDA), which may seem strange. However, the loan program is designed to promote homeownership in rural areas of the country. Consequently it’s an opportunity that many potential homebuyers may not be aware of.
Read More “USDA Loan Down Payment | Here’s What You Need to Know”
A typical down payment on a house in the United States used to be a straightforward 20 percent. However, due to the soaring home prices today, a 20% down payment has become unattainable for many, especially first-time home buyers. Lenders have adapted to this shift and now offer more flexibility, with some government programs even featuring no down payment options for eligible individuals. Instead of feeling discouraged, consider the evolving world of down payments and explore alternative solutions.
A no down payment mortgage is like the holy grail for first-time home buyers, and any home buyer for that matter. Everyone wants to find it, but finding one involves some luck, some preparation and some research. The requirements and eligibility are tightly regulated, but if you are willing to look at down payments that are almost zero, the options open up a bit more. Let’s look at both zero down payment mortgages and “almost zero” low down payment opportunities.
Read More “No Down Payment Mortgage | Buying a House with No Money Down”
The conventional loan down payment has undergone a very unconventional transformation in the last couple of decades. Home prices went nuts, interest rates spiked and the traditional 20 percent down payment – which was the default throughout the mortgage industry – has been downsized. Now the answer to “how much of a down payment do I need for a conventional loan?” is: it depends.
“Conventional Loan Down Payment | Here’s What You Need to Know”This is everything we know about the VA loan, which is a process, a system, a benefit and a way to get a mortgage if you are a veteran or an active duty service member in a branch of the armed forces. The one thing that the VA loan is not , is a loan. That’s one of its confusing elements, and there are others. The reason veterans and active duty members are drawn to the VA loan is because it provides a list of benefits that, when you line them up, is almost unbelievable. No other program from the federal government comes close to the VA loan guarantee in terms of benefits, costs savings and scope. It’s easy to think it’s just a way to get a cheaper mortgage, but it’s a lot more than that, and here’s what you need to know.
Read More “VA Loan | In Depth Guide for Veterans, Active Duty and Reserves”
An FHA loan down payment can put homeownership in your reach, even if you don’t have a great credit score. As you know, coming up with a down payment is one of the most significant hurdles to overcome, especially if you are a first-time homebuyer. How does the FHA system work, who is eligible and how do you apply? Let’s take a look at all of it.
“FHA Loan Down Payment | Here’s What You Need to Know”The average down payment on a house in the United States used to be a straight-up 20 percent. But that doesn’t really work for a lot of people anymore. With the price of homes today, a 20 percent down payment puts buying a home out of reach, especially for first-time home buyers. Lenders have become more flexible and there are even some programs that feature no down payments if you qualify. Before you throw up your hands and think you’ll never be able to afford to buy a home, let’s take a look at the changing landscape of down payments.
“Average Down Payment on a House in the U.S.”If you are interested in using a VA loan for investment property, you’ve come to the right place. Most aspects of the VA loan process are pretty straightforward and clear. This topic, however, is a very twisty path full of exceptions, timing, loopholes, strict rules and flexible policy. There aren’t any easy answers, but if you want to use your VA loan benefit for an investment property (or properties), it is possible. Just promise to hang on for the ride.
Start or Resume a chat with our Support Team
