HomeLight

NOVEMBER 29, 2021

A down payment is money that a buyer will pay at closing, usually expressed as a percentage of the home’s total purchase price. With so many DPA programs, you’ll want to consult with someone who will know them best — your loan officer. What types of mortgage loans are there? Conventional loans. FHA loans.

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HomeLight

AUGUST 29, 2022

Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. Keep in mind that this doesn’t include the funds you will need for closing costs.

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HomeLight

SEPTEMBER 1, 2022

Typically, the better the score, the greater your chances are of qualifying for an affordable mortgage. These are often loans in the form of a second mortgage with their own interest rates and payback requirements. GSFA Platinum® Down Payment Assistance Program – Down payment and closing cost assistance up to 5.0%

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Earnest money deposit VA loan FHA loan Loans 86

HomeLight

NOVEMBER 10, 2021

Whether you’re hoping to find a condo in Miami to be close to the nightlife, or are aiming for a single-family home close to your favorite golf course where you can retire in comfort, buying a house in Florida is a dream for many — it’s intimidating, but also exciting. Some loan types allow for smaller, more affordable down payments.

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HomeLight

SEPTEMBER 1, 2022

When you’re financing your home purchase with a mortgage, the lender wants to make sure the property you’re buying is worth what you’re paying for it. To get the mortgage loan amount you will need to purchase the home with the size of down payment you want to make, the home must appraise for at least the price you agreed to pay for it.

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HomeLight

JANUARY 27, 2021

But there’s so much to keep track of along the way: hiring an agent, getting a mortgage, making offers, and closing the deal. Here’s a research hack: HomeLight matches you with a top agent in your area with a demonstrated track record of closing deals and getting great results. It’s an exciting step in life, to be sure.

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HomeLight

JUNE 9, 2023

Also known as seller financing or a purchase-money mortgage , owner financing is an arrangement where the home buyer borrows some or all of the money to purchase the house from the current homeowner. In some cases, this occurs because the buyer doesn’t want—or can’t qualify for—a traditional mortgage from a traditional lender.

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HomeLight

JUNE 30, 2022

Maybe you got so swept up in the exhilaration of buying a home that you forgot to budget for the costs of furnishing a larger place in addition to your closing costs. This guide breaks down common hidden costs of buying a home and how much you should budget for each, so you can be prepared when it comes to closing on your dream home.

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