Understanding eligibility criteria for USDA financing is essential if you think this path might be your route to homeownership. Here's what you need to qualify for USDA financing.
While a 2% mortgage rate may feel like a distant dream, some buyers in 2024 are actually pulling it off. No, this isn’t not magic. It's called an assumable mortgage.
Down payment assistance programs (DPAs) are tools to help buyers afford homeownership. First-time and lower-income buyers who are struggling to come up with the minimum down payment needed to qualify for a mortgage can use these programs to help bridge the gap.
Once you've been pre-approved for the mortgage, you'll have between 30 and 90 days to shop around for homes.
For the average applicant, mortgage pre-approval before buying a home takes seven to 10 days. While lenders can often provide a pre-approval letter sooner than that, it's important to factor in a larger window to ensure that you have plenty of time to make an offer after you begin looking at homes.
If you use a standard itemized deduction when filing taxes, the mortgage interest deduction allows you to subtract your mortgage interest from your taxable income.
A buyer's market favors home shoppers. They often have more choices and additional bargaining power. A seller's market is often defined by a low supply of homes for sale. That can force buyers to compete to get offers accepted.
An FHA red flag is any safety hazard, health hazard, or deteriorating element of a home that would jeopardize financing.
The property title search is a standard part of closing. Its purpose is to confirm the seller's legal right to sell a property. Here's everything you need to know.
The big perk of the bridge loan is that it enables a homeowner to purchase a new home before they have a chance to sell the one they currently own.