For over 78 years, Veterans Affairs (VA) home loans have provided millions of veterans with the opportunity to purchase homes of their own. If you or a loved one have served, it’s important to understand this program and its benefits.
While it’s exciting to start thinking about moving in and decorating after you’ve applied for your mortgage, there are some key things to keep in mind before you close. Here’s a list of things you may not realize you need to avoid after applying for your home loan.
If you’re a renter, you likely face an important decision every year: renew your current lease, start a new one, or buy a home. This year is no different. But before you dive too deeply into your options, it helps to understand the true costs of renting moving forward.
Now that spring is almost here, it's time to tend to house repairs that may have accumulated during the winter months. The winter's snow, ice, and high winds may have affected your home's energy efficiency.
As you prepare to apply for a mortgage, you’ll come across terms like “prequalification” and “preapproval.” It’s essential to understand what these terms mean – they’ll guide your home search and help you focus on homes you can afford. When the time comes, they can also help you decide how much to offer and show the seller that you’re a serious buyer.
The lure of first-time homeownership is powerful. Your focus could be building generational wealth or creating an investment to sell when you retire. Whatever your reasons for buying a house, you may be quite a few steps from the moment you can kick back and enjoy your home purchase. Here’s our best advice for first-time home buyers looking to embark on the journey to homeownership.
As a first-time home buyer, your largest expense will usually be your down payment. This is the first major payment you make toward your home purchase. Your down payment is calculated as a percentage of your new home’s purchase price. For example, if you buy a $200,000 home and you want to put 10% down, you’d bring $20,000 to closing. Your down payment is due when you close on your loan.
Closing costs are all the fees you’ll pay at your closing meeting, which is the last step in the home buying process. Once you close your loan, those long-awaited house keys will officially be yours.