Did you know you can buy a house without putting a single dollar down on the closing table? Though it sounds too good to be true, the United States Department of Agriculture Guaranteed Rural Development Loan, also known as a UDSA or Rural Development loan, helps potential homebuyers become homeowners with several perks unheard of with different loan programs.
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. According to a recent Bankrate.com survey non-homeowners were asked what percentage of the total cost they would need to contribute as a down payment on a potential home purchase. Nearly 2 in 10 said somewhere between 11% and 20%, while another 17% said between 6% and 10% down.
Even more notable, almost a quarter of non-homeowners said they had no idea how much they would need for a down payment to buy a home. Here are 7 loan options for eligible homebuyers who wish to buy with little to no money down.
There are 9 million more renters in the U.S. than a decade ago, the biggest jump on record. As rental demand continues to outstrip supply and median income growth lags, the price of renting is likely to continue on its upward trend. If you’ve been sitting on the homebuying fence, these alarming rent statistics will show that you’re likely better off buying a home sooner rather than later.
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.
Many potential homebuyers cite existing debt or saving funds for a down payment as hurdles in their homebuying journey. But what if you have existing debt and a low balance in your savings account? Where do you start?
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.
Buying a home is a huge investment, making education essential. Here are several common myths surrounding buying and financing a home.
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.
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.
Most consumers want to own a home, according to a new Wells Fargo survey, but their incorrect ideas about what is necessary to obtain home financing may be keeping them from purchasing.