Homeownership is the American dream. Unfortunately, many families are unable to afford the down payment, closing costs, and related fees without help. The Good Neighbor Next Door program and the Teacher Next Door program are two types of housing programs available for eligible candidates. A first time home buyer program can help people acquire low-interest […]
Energy Efficient Mortgages: What Are The Benefits?
An energy efficient mortgage (EEM) is a type of loan that encourages borrowers to reduce their energy expenses by financing the cost of energy-efficient upgrades. Borrowers can apply for an EEM when making a new housing purchase or when refinancing an existing house. Energy efficient mortgages are federally recognized, easy to use, and can be […]
What Types of Collateral Can Be Used For Home Loans?
One of the first things a lender is going to ask you when you apply for a home loan is whether or not you own any collateral. Collateral is property or other assets that you own that you can use to offer the borrower as security for repayment of the loan. Having more collateral can […]
Types of Short Term Financing Loans
Short Term Financing Short term financing refers to financing that you obtain for usually a year or less. The intent of this financing option is to help you cover your immediate short term financial obligations. Short term financing is often used when people are buying a new home, and have yet to sell their current […]
What is a Debt to Income Ratio?
Buying a home is a big step. It can also be a long and tedious one. The home loan process requires conquering a multitude of hurdles. However, the end result is well worth the effort. To acquire your dream home, your mortgage lender will look at a wide range of factors. One such component examined […]
