First-Time Home Buyers - Page 13

Everyone makes mistakes. But in home buying? Those mistakes can cost you dearly. Not only can they mean more in costs (think tens of thousands more), but they can also hinder your mortgage loan. Avoid these all-too-common first-time buyer mistakes:

New FHA condo mortgage changes that begin in mid-October will make condo buying easier for buyers with small down payments and less-than-perfect credit.

According to new data, homeowners — especially MIllennial ones — are significantly more likely to make friends with their neighbors than renters are.

Big down payments aren’t required to buy a home. In fact, according to a new survey, a large swath of homeowners paid less than $5,000 for theirs.

How long does it take to get pre-approved for your mortgage? Not as long as you think, if you start with a folder and have fun with some paper airplanes.

Many soon-to-be parents strive to buy a home and stop renting. But they may not be able to afford a home in their current location. That’s why it pays to at least consider the least expensive city to have a baby in.

Not everyone is cut out to own a home. There are risks involved with this purchase. You could lose money. You’ll be responsible for upkeep and repairs. And some people make better homeowner candidates than others.

When Freddie Mac published its latest mortgage rate forecast on May 15, it contained good news for homeowners and homebuyers alike. It reckons mortgage rates will probably rise only a little between now and the end of 2020.

The emerging generation is as much interested in home buying as any generation before. Fueling the enthusiasm is a new menu of affordable mortgage programs.

The Freddie Mac HomeOne program removes income and geographic restrictions from its 3% down loan. Buyers can qualify for a low down payment even without low-income status.

Don't think you'll ever have the cash to buy a house? Use this guide to learn how to save for a house—and sooner than you think.

There are plenty of experts who will tell you that owning your own home doesn't meet the threshold to be regarded as a true form of investment. And they muster some strong arguments. But are they right?

Home bidding wars happen when two or more buyers compete for the same property but research indicates that home bidding wars happen much less often nowadays. This is good news for would-be buyers.

Millennial first-time homebuyers face a long slog if they try to come up with the "standard" 20 percent down payment for a home. But luckily, they don't need 20 percent. Or even 5 percent.

"Don't buy coffee. Save for a house." You hear it a lot. But does skipping Starbucks put a dent in your down payment? We don't think so. Regardless, we're giving away a $250 Starbucks gift card to one lucky home buyer.

Getting your offer accepted by a seller is exciting but stressful, too. Here's what to expect, and what you need to do once you get your first accepted offer to buy a home.

Learn how many houses you should look at before making an offer to be sure you found the best value on your new home.

Average down payments aren't as big as you think. Most home buyers only put down about 5%. Find out the right down payment level for you.

Should you get pre-qualified or pre-approved before you shop for homes? Learn about pre-qualification versus pre-approval here.