Income limits for first time home buyers is important to understand. As a first time home buyer, you may be able to qualify for mortgage financing on terms that are quite generous. Those terms include no or low down payments. Having no down payment, or a very low down payment puts home buying for many […]
How Much Do First Time Home Buyers Have To Put Down?
As a first time home buyer, you likely will have to borrow money to buy a home. When you borrow money to finance the purchase of a home, your loan is called a mortgage loan. Most mortgage lenders and loan programs require the buyers to make some kind of down payment. The down payment is […]
What Credit Score Do You Need To Buy A House?
One of the most important factors in getting a mortgage to buy a house is your credit score. Your credit score is a number ranging from a low of 300 to a high of 850 that represents your creditworthiness. Higher scores indicate less risk to the lender. Using FICO, the most often used model by […]
FHA Loans Facts Potential Homebuyers Should Know
FHA loans are a wonderful way to finance the purchase of a home. Millions of homebuyers use them to finance a home purchase or home improvements each year. Despite the widespread popularity of FHA loans, they are a mystery to many potential homebuyers. There are plenty of FHA loans facts that are often overlooked when […]
How Can I Qualify for a Loan as a First-Time Home Buyer?
Although most people with good credit history can qualify for a mortgage to buy a home, special programs exist for first time home buyers. If you are a first-time home buyer, you may be able to get a loan on favorable terms and conditions that are not available to other borrowers. Depending on your financial […]
