In today’s housing market, anyone looking to purchase a home with nothing down may find themselves with few options. Fortunately, USDA home loans still offer 100% financing with low mortgage rates for home purchases. And these rural development loans can be used across most areas of the country. Don’t overlook the no-down payment mortgage options offered through USDA loans. Read More
It’s no secret that grants are available to help you purchase a home are available. In fact, homebuyers can get down payment assistance (DPA) in thousands of locations, which helps them save on money they’d otherwise need for down payments. Many of these programs are run by the state, county, or city governments, so DPA programs are different depending on where you live. Fortunately, most home buyers may be eligible for thousands of dollars in downpayment assistance if they meet the requirements. Read More
Conventional loans are the most popular type of loan to purchase a home. If you have a good credit score and a solid down payment, a conventional loan may work for you. But how much money will you need to meet the minimum down payment for conventional loan programs? Read More
The concept of conventional loans dates back to 1938 during the depths of the Great Depression. That’s when The Federal National Mortgage Corporation, also known as ‘Fannie Mae‘, was founded by the United States Government. Read More
When you hear the term “closing costs”, it generally refers to a group of fees that must be paid during the settlement process. It’s true that you can get a lower down payment on an FHA loan, but you will still have to pay closing fees. Closing costs for Federal Housing Administration loans will apply, including some that conventional loans don’t often require. FHA loan closing costs can include such things as lender origination fees, attorney fees, appraisal and inspection fees and more. Read More
