Homebuyers use a co-borrower mortgage when they need more than one income to qualify for a mortgage. Co-borrowers can be a couple, but they don’t[…]
Article Topic: Thinking About Buying
Thinking About Buying
Mortgage Bank Statements: Why Lenders Need Them and What They Look For
When applying for a home loan, your lender may request mortgage bank statements. This refers to your personal bank account statements, which can help[…]
What Is a Primary Residence?
A primary residence is a home that you live in a majority of the time. Understanding the official primary residence definition and how lenders and the[…]
First-Time Homebuyer Class: What’s Covered and When to Take One
A first-time homebuyer class helps you learn about the ins and outs of the homebuying process and what it means to be a homeowner. Even if your[…]
How to Save for a Down Payment on a House
One of the most significant issues first-time homebuyers face is how to save for a down payment on a house. Saving a substantial amount of money may[…]
Conventional Loans: What They Are and How to Qualify
Conventional mortgages are home loans that are not part of a government program. Conventional loans are usually less expensive than government-backed[…]
USDA Loans: How to Qualify and Borrowing Requirements
If you’re buying a home in a rural community, you might qualify for a USDA loan. These loans are guaranteed by the U.S. Department of Agriculture[…]
What Is a Lender Credit and How Does It Work?
Homebuyers shopping for a mortgage frequently ask what is a lender credit. When you take a lender credit, the mortgage company agrees to pay some or[…]
10 Tips on Buying a Home for the First Time
Buying a home for the first time could be a smart money move. After all, there are many benefits to homeownership, including the potential to build[…]
What Is Escrow and How Does It Work?
When you make an offer on a home or take out a mortgage, you might need an escrow account to set aside money for certain payments and ongoing costs.[…]