HomeLight

JANUARY 27, 2021

Mortgage insurance is extremely common for first-time buyers, and it’s often the fastest way to achieve homeownership and start building equity today, rather than waiting until you’ve saved up 20% — an unrealistic feat for many buyers. Plus, it only costs between 0.5% and 1% of your loan amount, annually.

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HomeLight

AUGUST 9, 2022

In other words, there won’t be any surprises at the closing table — you’ll know exactly what you’re paying and to whom. Don’t forget about closing costs. Some of these costs are the seller’s responsibility, and some will be yours. A Federal Housing Administration loan is backed by the federal government.

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Earnest money deposit VA loan Purchase and sale agreement FHA loan 95

HomeLight

NOVEMBER 29, 2021

FHA loans. A Federal Housing Administration (FHA) loan is a government-backed mortgage loan. Lenders are protected with these loans because the FHA will spring into action if the borrower stops making payments on the loan. USDA loans. The minimum down payment is 3.5%.

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Earnest money deposit FHA loan Purchase and sale agreement Inspection 87

HomeLight

MARCH 6, 2023

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. down payment and/or closing cost assistance. Loans are between 3%-3.5%

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HomeLight

SEPTEMBER 1, 2022

GSFA Platinum® Down Payment Assistance Program – Down payment and closing cost assistance up to 5.0% of the mortgage loan amount. GSFA OpenDoors® Down Payment Assistance Program – Down payment and/or closing cost assistance up to 7% of mortgage loan amount. Send your earnest money deposit.

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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. Marroquin and HomeLight Home Loans expert Richie Helali shed some light on the closing costs that buyers might not know about.

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