Four Low Down Payment Mortgage Programs Too many Americans who want to buy a home feel they can’t because they don’t have the cash to put 20 percent down on the mortgage. It’s safe to say that the down payment is one of the biggest obstacles to homebuying today. And, it doesn’t have to be. Here are four low down payment mortgage programs to get you in the home of your dreams. 1. Fannie Mae’s...
first time home buyer
Home Buying in Six Steps 1) Get Ready for Home Ownership Build a good credit history Get mortgage pre-approval Find out what type of mortgages you quality for Consider hiring an attorney to review all contracts and agreements associated with the home buying process Save up for a down payment (typically 10-20% of property’s value; if FHA-qualified, then possibly less) Consider closing...
Using a mortgage broker used to be frowned upon when shopping for a new house. Most often brokers were thought to deal with sub prime people who due to poor credit could not get a mortgage from their own bank. Today's home shoppers don't quite have the same view of mortgage brokers any longer. In fact more people are using brokers then ever to get quick pre-approvals and lower rates then if they chose...