Posts Covering First-Time Home Buyers

First-time home buyers guide: Using a real estate agent

With a skilled real estate agent on your side, you’ll get better “deals”. Even better, the service is free — real estate agents are paid by the sellers.

First-time home buyers guide: The basics of a mortgage

As a first-time home buyer, understanding how your mortgage works is the first step to making better mortgage choices — and getting the best rate possible.

Utility companies: How do I set up my new home?

When you buy a home, you’ll need to transfer service with utility companies from the previous owner to yourself. Here’s how to do it.

Use your mortgage Closing Disclosure (CD) to get the deal you were promised

In this article: A mortgage disclosure is a five-page summary outlining all the key points about your new mortgage. Your lender is legally obliged to send you a mortgage disclosure at least three business days before you’re due to close. The following information is included in your mortgage disclosure: The type of mortgage — fixed […]

Your budget: Let’s do this!

Creating a budget is something every adult should do. Especially if they plan to buy a home. And today’s online tools make that task easier than ever, so let’s get started.

Freddie Mac 97 percent loan unveiled with NO income restrictions

New Freddie Mac 97 percent mortgage HomeOne, a new Freddie Mac 97 percent loan program, begins on July 29, 2018. It’s a big deal because: Only 3 percent down NO income limits NO geographic restrictions (you don’t have to buy in a low-income census tract) Compared to FHA loans, HomeOne may be a better fit […]

First-time home buyers guide: Finding the perfect house

Shopping for a home that fits your needs and budget can be an exciting and stressful experience — especially for first time home buyers. Planning ahead will help settle your nerves.

How much money can you save by living with your parents?

Moving home to save money Living with your parents can turbo boost your ability to save for a down payment. And it’s a strategy increasing numbers of young professionals who want to be homeowners are adopting. One thing many neglects to do first is to find out how big a down payment they may need. […]

Don’t be a victim of mortgage fraud

Mortgage fraud: unlikely, but possible According to the FBI, you are not the most likely victim of mortgage fraud — most cases are perpetrated by borrowers against mortgage lenders. Often those involve exaggerations, white lies or outright falsehoods on loan applications. Should you lie on your mortgage application? However, mortgage industry professionals who abuse their […]

What mortgage rate history can tell us about the future

How useful is mortgage rate history? Mortgage rate history may sound a pretty boring topic. Indeed, you may subscribe to the Henry Ford school, which believes that all history is bunk. However, knowing how mortgage rates behaved in the past can help you understand what might happen to them in the future. That knowledge could […]

Small house, smaller down payment: how to get the home you want as fast as possible

Buying a small house can make financing your first home easier. You may have less square footage, but you’ll also have a smaller down payment and mortgage.

Is 2018 the year you should become a homeowner?

Happy new year — as a homeowner Is your new year’s resolution for 2018 to become a homeowner? Or would you make it one, if only you thought it was a smart move — and you stood a chance of achieving it? Well, read on because you might find some good news. 2018: A vintage […]

Should you lie on your mortgage application?

Are “white lies” okay on a mortgage application? How much harm can a little white lie on your mortgage application do? Well, quite a lot, actually. True, you’re unlikely to face the maximum penalties that mortgage fraud can bring. You’d have to do something really bad to get 30 years in a federal penitentiary and […]

First-time home buyer guide: buying with a new job

As a first-time home buyer, you may not have the work experience of a seasoned buyer, but that doesn’t have to affect your ability to get mortgage loan-approved.

10 things NOT to say to your mortgage lender

There are a number of things you shouldn’t say to your mortgage lender that can lead to your loan application being denied. Don’t let it be you.

Pets are leading factor for Millennials to buy homes

Dogs now play a key role in Millennials’ decision about home buying, outweighing getting married or even having kids. What it means for buyers and sellers.

New startup Loftium changing how we see down payments

if you’re buying a home in the (expensive) Seattle area, this new program by Loftium and Umpqua Bank might help. It provides down payments to those willing to participate in the program.

First-Time Home Buyers Guide: Picking The Right Mortgage Program

This guide for first-timehome buyers covers choosing the mortgage loan which best fits your financial and emotional needs.

First-time home buyers guide: buying with low credit scores

First-time home buyers tend to have lower credit scores than the general population. That’s okay. There are plenty of “first-time” loan programs to help.

First-Time Home Buyers Guide: Buying With Student Loans And Debt

First-time home buyers often carry student loans, which can make saving for a down payment difficult. There are lots of “first-time” loan programs to help.

2018 Conforming, FHA, & VA Loan Limits

Mortgage loan limits for every U.S. county, as published by Fannie Mae & Freddie Mac, the Federal Housing Administration (FHA), and the Department of Veterans Affairs (VA)