Mortgage 101: Which Mortgage Is Right for You?

Posted by Laine Smith on 1/9/17 10:06 AM

Buying a home can come with an overwhelming amount of choices. What school district do you want to purchase in? Who should you choose for a real estate agent? How much can you afford to spend on your home purchase? Just like choosing a home style, there are several loan types and programs made to benefit a wide range of homebuyers.

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Buying Your First Home: Should You Save For a Down Payment or Pay Off Debt First?

Posted by Laine Smith on 10/16/16 10:54 AM

Many potential homebuyers cite existing debt or saving funds for a down payment as the biggest hurdles in their homebuying journey. But what if you have existing debt and a low balance in your savings account? Where do you start?

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5 Home Loan Options for First-Time Homebuyers

Posted by Laine Smith on 11/30/15 2:27 PM

From student loan debt, saving for a down payment and building mortgage-ready credit, First-time homebuyers face different hurdles when it comes to buying a home. Here are some of the best options for home financing when preparing to buy your first home.

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7 Biggest Homebuying Fears and How to Face Them

Posted by Laine Smith on 10/22/15 4:18 PM

Terrified of jumping into the homeownership circle? As with any large purchase, buying a home can be unnerving for someone who has little knowledge of the homebuying and financing process. Here's how to set some of those fears aside when thinking of buying a home.

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10 Common Homebuying Myths Debunked

Posted by Laine Smith on 10/12/15 11:57 AM

Buying a home is a huge investment, making education essential. Here are several common myths surrounding buying and financing a home.

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How to Buy a Home Without a 20% Down Payment

Posted by Laine Smith on 9/17/15 8:00 AM

A major hurdle for some first-time homebuyers is coming up with the funds for a down payment or closing costs on their home purchase. Contrary to common belief, you don’t need a 20% down payment to purchase a home. Here are some of your options for buying a home with a low to no down payment option.

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How to Get $7,500 in Down Payment Assistance with 1stHomeIllinois

Posted by Laine Smith on 8/17/15 11:19 AM

With interest rates near historic lows, rental rates climbing 3.5 percent in the last 12 months, and the availability of down payment and closing cost assistance programs, there’s no better time to be a first-time homebuyer. Here's how the Illinois Housing Development Authority's new loan program is making homeownership even more enticing for first-timers.

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Buying a Home with Little to No Money Down

Posted by Laine Smith on 7/18/15 11:28 AM

A major hurdle for some first-time homebuyers is coming up with the funds for a down payment or closing costs on their home purchase. Luckily, there are loan options and down payment assistance programs that give qualified homebuyers the ability to purchase a home with no to little money down.

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Financing Home Improvements: FHA 203k vs. Conventional

Posted by Laine Smith on 5/7/15 9:00 AM

As with any home loan, conventional and FHA 203k loans fill unique needs for different homebuyers and different home purchases. If you are already familiar with an FHA 203k loan, you know that it's an option for homebuyers and homeowners looking to finance home renovations into their mortgage. While conventional loans typically only finance the purchase of a home, there is a Fannie Mae HomePath® Renovation Loan that works similarly to a 203k loan.

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Finding the Right Home Loan

Posted by Laine Smith on 4/17/15 8:00 AM

Homebuying comes with an immense amount of choices. You need to choose a realtor, a neighborhood, a house, a lender, and a loan type. Like home styles, there are dozens of home loan types and programs meant to appeal and benefit a wide range of homebuyers.

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