Preparing to Buy Your First Home in 2017: 5 Things You Should Start Doing Now

Posted by Laine Smith on 12/4/16 12:51 PM

Increasing mortgage rates coupled with rising home prices and rent costs are among a few of the reasons 2017 could be a good year for you to buy a home. Here’s what you can and should be doing now if 2017 is the year you want to get out of the rental circuit.

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2016 Marks the Biggest Year in the History of VA Loans: 4 Ways Veteran Homebuyers Benefit

Posted by Laine Smith on 11/11/16 10:36 AM

In 2016, the U.S. Department of Veteran Affairs guaranteed more than 707,000 home loans, making it the largest year in the history of the VA loan program. In honor of the men and women who have served our country, we’re highlighting the ways the VA loan program makes homeownership attainable and affordable for our veterans.

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Is My Credit Score Good Enough to Buy a Home? 5 Credit Questions First-Time Homebuyers Ask

Posted by Laine Smith on 11/7/16 2:45 PM

With mortgage rates still near historic lows, many first-time homebuyers are looking to purchase and finance homes, making it more crucial than ever for them to understand what part their credit score plays in the mortgage process. Here are some of the most commonly asked questions regarding credit scores and homebuying.

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Renovating Your Fixer-Upper: 7 Facts About the HomeStyle® Renovation Loan

Posted by Laine Smith on 11/2/16 10:35 AM

Renovation TV shows like Fixer Upper and Rehab Addict can inspire homebuyers to purchase a home in need of some TLC, but they leave out a very technical part of the process: financing the renovations. Fannie Mae's HomeStyle® Renovation Mortgage is one of a few renovation loans we offer. This loan type allows purchase and refinance borrowers to include financing for home improvements into the transaction of an existing home. Here's what you need to know about this renovation loan.

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Should You Stay or Should You Go? 6 Things to Consider When Deciding to Renovate or Relocate

Posted by Laine Smith on 10/26/16 10:00 AM

At some point as a homeowner you’re going to come to an inevitable, emotional and mathematical fork in the road. Whether your starter home isn’t enough for your growing family, you’ve recently become an empty nester or you just really want an updated kitchen or floor plan, you’ll likely ask yourself whether it’s in your best interests to remodel or renovate or list and trade up.

 

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USDA Rural Development or FHA: Which Is the Best Mortgage Option for a First-Time Homebuyer?

Posted by Laine Smith on 10/17/16 2:33 PM

Today’s first-time homebuyers face a new set of homebuying hurdles. From saving for a down payment and closing costs to credit scores and debt, mortgage affordability is a key concern for many homebuyers. So today we’re reviewing pros and cons and costs and eligibility requirements associated with two affordable mortgage options: the USDA Rural Development and FHA loan.

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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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The Zero Down Payment Mortgage Program Is Now Even More Affordable

Posted by Laine Smith on 10/10/16 1:30 PM

If you’ve heard of the USDA Rural Development Guaranteed Loan Program, you know that it’s an extremely affordable mortgage program, boasting several benefits for first-time and repeat homebuyers. As if the zero down payment requirement and lower-than-market interest rates weren’t enough, USDA loans became even more affordable at the beginning of this month.

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How Much Mortgage Can You Afford? 7 Factors That Affect Home Affordability

Posted by Laine Smith on 10/9/16 9:08 AM

One of the most common first-time homebuyer questions is how much can I afford to buy? Home affordability weighs on many factors that your lender will analyze to give you an appropriate, pre-approved purchase point.

 

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5 Preparation Steps to Move From Renting to Owning 

Posted by Laine Smith on 10/3/16 4:13 PM

If you’re thinking of purchasing a home in the near future because of high rent, you’re not alone. In the first quarter of 2016, one in four homebuyers was looking to purchase a home because of their expensive rent, according to Redfin. Homeownership is a big decision, so whether you plan to buy this fall or down the road, walk through these initial steps to go from renting to owning.

 

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