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Agents fight misconceptions to win deals for military veteran clients

Housing Wire

After completing countless Veterans Administration (VA) mortgage loan transactions over the years, Chris Pascoe, a Marine veteran turned RE/MAX agent, has developed something of a system. At the end of the day, Pascoe says the process is not all that different than purchasing a home with a conventional mortgage.

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FHA borrowers are getting hammered by rising rates

Housing Wire

The FHA also insured more than twice as many loans to Black and Hispanic borrowers last year as the rest of the mortgage market combined. As interest rates rise, so do the monthly mortgage payments, which could be problematic for low-to-moderate income borrowers, said Alex Naumovych, loan officer at Draper & Kramer Mortgage.

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Mortgages with Low Credit Scores - Your Guide to Affordable Home Financing

Realty Biz

Mortgages with Low Credit Scores Mortgages with low credit scores can appear challenging, but there are options available. Understanding how a low credit score affects your mortgage and exploring government-backed programs can help you navigate the process. Can you buy a house with bad credit?

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How Much Is Enough for a Down Payment?

Realtor.com

This money is crucial to snagging a mortgage and getting that much closer to homeownership. “The best advice that I could give is to get a couple of recommendations for loan officers in your area,” says Nathan Perkins Jr. , for an FHA loan. to 1% of your loan amount each year. Loans with no money down.

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Breaking it Down: The Home Buying Process from Loan to Close

C4D Crew

Take a look at your current debt versus your income and consider how much money you can afford on a monthly mortgage. Make sure to include everything in your estimate, including groceries and student loans. Most loans require at least a 3.5% Getting a Loan. Conventional loans are the most popular option for buyers.

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Buying a House in San Diego? Local Real Estate Agents Share 15 Tips First-Time Buyers Need to Know

Redfin

Get pre-approved for a mortgage My advice to first-time homebuyers is to find a good loan officer and get pre-approved, fully underwritten approval is best. Work with that loan officer and their agent to understand what timeframes they’re comfortable with in an offer.

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How to Apply For a First-Time Home Buyers Loan: Simplifying the Process Into 8 Doable Steps

HomeLight

First-time homebuyer loans can help make it easier on first-time homebuyers , offering access to special mortgage programs with low down payments. Second mortgages : These are loans you can take out to subsidize the down payment in addition to taking out a principal mortgage. Sound great? Sure it does!

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