Home Buying · Investment Properties

How to Make a Down Payment for a Second Home

March 1, 2023

Unless you’re sitting on a boodle of cash, buying a second home — whether for an investment property or a vacation home — will require you to make a down payment for a mortgage.

Uncategorized

Biden Administration Lowers Costs for FHA-Insured Mortgages

March 1, 2023

Conventional Loans · Home Buying

Buy & Repair a Home with Fannie Mae’s HomePath Renovation Mortgage

November 15, 2022

Editor’s note: Fannie Mae discontinued the HomePath program on October 6, 2014. Buyers must have had a completed home purchase contract dated on or before this date to use the […]

Home Buying · Niche Mortgage Products · USDA Home Loans

Differences And Similarities Between Land Loans And Home Mortgages

November 15, 2022

That perfect piece of land with mature trees and a lake has come up for sale. Your family has talked about building a house in the next few years. Now, […]

Home Buying

How much should you put down on a house?

November 15, 2022

There’s no one-size-fits-all answer to this one and it’s going to depend on a number of factors, including the type of mortgage you want and your personal financial circumstances.

Conventional Loans

Freddie Mac’s Home Possible vs Fannie Mae’s HomeReady: Which is better?

November 15, 2022

If you want to buy a home without a large down payment, there are plenty of government-backed programs available. But the opportunities don’t end there. Fannie Mae and Freddie Mac […]

Refinance

How much does it cost to refinance?

November 15, 2022

It typically costs between 2% and 5% of the amount you’re borrowing to cover the closing costs of your refinance.

Private Mortgage Insurance

How much is PMI (private mortgage insurance)?

November 15, 2022

How much is PMI on a mortgage? Private mortgage insurance (PMI) is usually between 0.19% and 1.86% of your mortgage balance. And you sometimes need to pay an upfront premium […]

Conventional Loans · Home Buying

Fannie Mae HomePath: 5% Down Payment, No Appraisal, No PMI

November 15, 2022

Editor’s note: Fannie Mae discontinued the HomePath program on October 6, 2014. Buyers must have had a completed home purchase contract dated on or before this date to use the […]

Home Buying

Assumable Mortgage: Big Advantage for Buyer and Seller

November 15, 2022

Most home buyers today apply for and, hopefully, are approved for their mortgage. They are subject to current lending standards and interest rates. But a few buyers can simply take […]