Homebuyer financing help
The biggest obstacle to buying a home these days is money, both for down payment and closing costs. In fact, closing costs can many times exceed the down payment required. To help with this there are several different low and in some cases no down payment programs available. Some are limited to first time home […]
FHA vs. Conventional
Right now with the inventory of properties low and bidding wars happening quite often, it is worthwhile to look at the different types of financing and how they can effect whether or not you win in making an offer. The two major types of residential financing are FHA and Conventional: FHA loans are insured by […]
What happens when a home doesn’t appraise?
We are in a seller’s market right now! There is more demand for homes than there are homes for sale (hello supply vs. demand!). The result of this is that buyers are willing to increase their offers in this highly competitive market, especially during bidding wars where multiple consumers are trying to outbid each other […]
What do lenders need to know about down payment money?
When purchasing a home one of the most important aspects of the mortgage application process is proving that you have enough money to pay the down payment and closing costs. This is the part of the process that requires the most documentation, usually, and causes the most delays in closings. Once a sales price […]