Closing costs can cost as much as 5% of your loan amount. That is no small chunk change, so it’s no wonder people want to find ways to lower them. One such way is with a lender credit.Get Matched with a Lender, Click Here.It sounds amazing. The lender helps you pay your closing costs, right? Before you get too excited, know that it comes at a cost. That cost is a higher … [Read more...] about What Can a Lender Credit be Used For?
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Freddie Mac’s Home Possible Mortgage Eligibility Requirements
If you are a low to moderate-income family, you may be eligible for the Freddie Mac Home Possible Mortgage. It’s the perfect program for first-time homebuyers; however, previous homeowners can apply as well.Get Matched with a Lender, Click Here.Keep reading to learn about Freddie Mac’s Home Possible requirements. Down Payment Requirements Borrowers must put down at … [Read more...] about Freddie Mac’s Home Possible Mortgage Eligibility Requirements
Can You Use an FHA Loan to Build a House?
If you are in the market to build a house, you have unique mortgage needs. Because no lender can provide you with an actual mortgage until there is a house to live in, you need temporary construction financing first to even build the house.Looking for Current Mortgage Interest Rates? Click Here.This type of financing can be a bit more difficult to find because of the … [Read more...] about Can You Use an FHA Loan to Build a House?
The Top Ways to Save Money on Closing Costs
Buying a home means more than saving for a down payment and moving costs. You also have to pay those pesky closing costs. It’s not unusual to see closing costs as high as 5% of the loan amount. If you have a $200,000 loan, that means as much as $10,000 in closing costs.Compare Offers from Several Mortgage Lenders.Luckily, there are ways you can save on these costs. … [Read more...] about The Top Ways to Save Money on Closing Costs
Look For These Things on Your Final Walk-Through
Just before you close on your home loan, you will have the opportunity to do a final walk-through. This is your chance to make sure the home looks as you remembered it. It’s also a way for you to make sure the home is in the condition you agreed to in the purchase contract.Get Matched with a Lender, Click Here.This is not the time to haggle on a price or initiate new … [Read more...] about Look For These Things on Your Final Walk-Through