Why is the housing market so hot right now? Whether you’re trying to decide if you should buy now, pondering the possibility of putting your property on the market, or simply curious, it’s an interesting question.
Is a 20 Percent Down Payment Necessary?
Is a 20 percent down payment necessary? If you’re contemplating buying a home, it may be an important factor in your decision. After all, the median home sales price in 2021 was $374,900, according to The Ascent. Twenty percent of $374,900 is $74,980, and few people would consider that pocket change. The idea of coming …
How to Get a Home Loan When Self-Employed
Are you self-employed? Are you contemplating a home purchase? Are you hoping to use a home loan to fund your purchase? If the answer to all three of these questions is yes, then you’ll need to know how to get a home loan when self-employed. Be aware that it may be a bit trickier than …
What Makes Property Value Increase?
For many people in the United States, a home is one of the most expensive purchases you’ll ever make. After the deal, it’s likely to be one of your biggest assets. If you want to safeguard and grow your wealth, it makes sense to keep a watchful eye on your property value. You’ll want to …
Understanding the Good Neighbor Next Door Program
Good neighbors are a vital ingredient for strong communities. That’s why the U.S. Department of Housing and Urban Development launched its Good Neighbor Next Door program. With this program, members of certain professions who meet the requirements have a chance to snag a home at half price, but the supply is limited, so you have …
What Are Conventional Home Loans?
What are conventional home loans? Some things are defined by what they are. Some things are defined by what they aren’t. Conventional loans technically fall in the second category. Exploring what makes a conventional loan a conventional loan can help you determine if this popular form of financing is the tool that you need to …
What Are Bond Loans?
James Bond needs no introduction. Decades of books and blockbuster movies starring various versions of this globetrotting superspy have made Agent 007 into a cultural icon who is recognized around the world. Of course, not everything bond-related ties into the Bond universe. Bond loans are far less famous, but they are certainly useful if you’re …
FHA vs. Conventional Loans
When you’re trying to decide how to finance a home purchase, it’s a match-up worth considering: FHA vs. conventional loans. Both of these loans are popular, and both come with their own sets of pros and cons. Understanding what makes these different forms of financing work can help you choose the one that’s the best …
Qualifications for USDA Loans
If someone asked you to make a list of organizations that could help you get a fantastic home loan, would the U.S. Department of Agriculture (USDA) be on it? For many aspiring homebuyers, the USDA probably wouldn’t even make the top ten. That’s unfortunate because the USDA’s Single Family Housing Guaranteed Loan Program is designed …
What Do I Need to Apply for a Home Loan?
You only get one chance to make a fantastic first impression on a prospective lender, and you want to be present yourself as organized, responsible, and prepared. Fumbling your way through the application process isn’t going to project the image you want. Before you begin the preapproval or approval process, ask yourself: What do I …