7 Ways to Build Mortgage-Ready Credit in 2017

Posted by Laine Smith on 1/11/17 9:00 AM

Preparing to buy a home should start long before walking through a potential home to purchase, so if buying a home is one of your 2017 resolutions, you will find these tips helpful for building a healthy credit score. Your first official step to buying a home should always be meeting with a lender for a pre-approval, but your credit is a mortgage factor you should be continually working on when you're wanting to achieve home financing.

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Mortgage 101: What Are Closing Costs and How Can You Minimize Them?

Posted by Laine Smith on 1/4/17 10:00 AM

When you get a mortgage, you will most likely be paying closing costs at the finalization of your purchase or refinance. These costs, which typically range from 2 to 5 percent of your home’s purchase price, are charged by your mortgage lender and third parties that have performed services related to your home purchase (a lot of behind-the-scenes players are involved in the home buying and financing process). See here what you can expect to pay within your closing costs and ways you can try to minimize what you need to bring to closing.

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7 New Year's Resolutions to Make to Buy a Home in 2017

Posted by Laine Smith on 1/1/17 10:00 AM

Happy New Year! 2016 was a hot year in the real estate market with high homebuyer demand, low inventory and historically low mortgage rates throughout the majority of the year. If this is the year you want to become a homeowner, here are 7 resolutions to make to set yourself up for the best homebuying and home financing experience.


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The Beginners Guide to Buying Rental Property

Posted by Laine Smith on 12/17/16 10:00 AM

According to a 2016 Gallup poll, Americans’ top pick for “best long-term investment” is real estate, coming in ahead of stocks, mutual funds, gold, savings, CD’s and bonds. While owning your own home has an immense amount of benefits, so does purchasing and maintaining a rental property, though it’s not for everyone. If you’re considering the path of real estate investing, see what you need to consider first.

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Mortgage 101: 5 Types of Insurance You May (or May Not) Need When Buying a Home

Posted by Laine Smith on 12/7/16 9:00 AM

Buying a home is likely the largest purchase you will make in your lifetime, so protecting it (and your belongings within it) is essential as a homeowner. There are several types of insurance associated with homebuying, some of which you have a choice in and others required by your mortgage lender to protect their collateral. See what you need here.

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Fixer-Upper Listings on the Rise: What You Need to Know About Financing a Home in Need of Renovations

Posted by Laine Smith on 11/16/16 12:50 PM

As homebuyer demand continues to outpace supply, a new Zillow analysis found that there are 12% more fixer-upper homes on the market now than there were five years ago. Low existing home supply coupled with competitive homebuyers has created a seller’s market, and with high demand for houses, sellers aren’t feeling the pressure to make updates before putting their home on the market.

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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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