When is it a good idea to refinance? Deciding whether to refinance your home should “depend on your goals and purpose of the refinance,” says James A Thom, a mortgage adviser with Fairway Independent Mortgage Corporation in South Boston, Mass. (Fairway owns Home.com.) Most people refinance for one or more of the following reasons: A lower […]
The lowest interest rates are reserved for veterans and active-duty servicemembers with VA loans — and have been since at least 2014. It’s actually quite comforting to know that homebuying is made a little easier for the men and women who serve their country. Does it completely repay them for their time and sacrifice? Not […]
If you’re a military servicemember in the market for a new home and are wondering about your VA home loan eligibility, you’re not alone. Figuring out who qualifies for a VA home loan and how much can be tricky if you haven’t used your VA loan benefit before. But it’s easier than you might expect […]
The Department of Veterans Affairs (VA) created the VA home loan to give veterans and active-duty servicemembers a shot at homeownership — one of the key factors in financial stability in the U.S. But eligible servicemembers can do more than buy houses with a VA loan. They can also refinance existing VA loans to save […]
Down payment is often the largest hurdle to homeownership, especially for first-time homebuyers with little savings. But assistance from the Freddie Mac BorrowSmart℠ program can take a bite out of your down payment and closing costs. In some cases, it may even provide all of the cash you need to close on a home. What […]
High mortgage rates got you down? There’s a loan option to combat high rates that are gaining in popularity. It’s called a 2-1 buydown or temporary buydown. This program reduces your rate and payment for the first two years of homeownership, freeing up funds and making it easier to afford to buy a home. Here’s […]
FHA loans are designed to make homeownership accessible to deserving homebuyers. The government created this program for those who wanted to become homeowners but didn’t have sparkling credit and a 20% down payment. (FHA loans require a minimum 580 credit score with a 3.5% down payment.) But FHA loans come with certain rules – and among the […]
