Tag: Financing

Posted on 10/02/2022

“First-time homebuyer” is a commonly used term in all areas of real estate. But what exactly is a first-time homebuyer? Here are the specific factors that qualify somebody as a first-time homebuyer and why they are important: Who Qualifies as a First-Time Homebuyer? As suggested by the name, a first-time homebuyer is any person who is purchasing their...

FHA

Fha

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Posted on 07/04/2021

How is a Land Contract Different than an Mortgage?

Image by mohamed Hassan from Pixabay A land contract and a mortgage have a number of similarities. For example, you can use either option to purchase a home Both loans must be repaid on a monthly basis. Understanding the Differences A land contract is a legal agreement between a buyer and a seller. Rather than a traditional mortgage...

Financing

Loans

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Posted on 10/04/2020

Types of Home Financing

Image by Credit Commerce from Pixabay Finding financing for a home could be as simple as applying for a conforming FHA loan or it could be as difficult as having to locate a portfolio loan or even a combo loan. What you need depends on the real estate you are buying. Most people buying a primary residence get...

Financing

Loan

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Posted on 06/07/2020

Why Debt to Income Ratios Matter

Image by Mimzy from Pixabay As you start your journey to home ownership, one of the terms you may hear from your mortgage lender is debt to income ratio. Many people have never heard this term before, but it is an important aspect of obtaining a mortgage. Your mortgage lender wants to make sure you are not going...

Debt

Debt To Income Ratio

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