- Years of Work Needed to Afford a Down Payment – 2019 Edition
Owning a home is an important financial goal for many Americans. Data from the U.S. Census Bureau shows that at the end of 2018, approximately 64% of people owned their homes. Whether homeownership is affordable for you is the first question to consider, and it’s often a tough one. That’s especially true for buyers in… read more…
- Pros and Cons of Seller Financing
Qualifying for a mortgage isn’t easy. Some lenders have strict requirements and weed out applicants with poor credit or too much debt. A possible alternative for those determined to buy a house is something called “seller financing.” This process, as… read more…
- Pros and Cons of a Balloon Mortgage
Your balloon mortgage loan might have seemed like a good idea when you first applied for it. Maybe it meant that your monthly mortgage payments have been lower so they fit into your budget. But now your mortgage balloon payment is… read more…
- Mortgagee: Is It the Bank or the Homebuyer?
Unlike an employee, escapee or trainee, a mortgagee is not a person. Instead, a mortgagee is the bank or credit union that loans money for the purchase of a home or property and holds the property title until the loan… read more…
- 6 Factors to Consider When Buying a Second Home
A second home can act as both a vacation home and an investment, as homeowners can easily rent them out when they’re not staying there. But like most home purchases, buying a second home probably means you’ll need a second mortgage. When… read more…
- Social Security Form SSA-89
Providing your Social Security Number (SSN) is a unique, secure method of identifying yourself. However, even this method is susceptible to fraud, especially if your SSN falls into the wrong hands. In situations where you need to prove that the… read more…
- First-Time Home Buyer Programs in Tennessee
Between vibrant cities like Nashville and quiet towns deep in the Appalachians, Tennessee might have something for everyone. Life in the Volunteer State means steeping yourself in history, culture and natural beauty. Buying a home, however, is a big financial… read more…
- First-Time Home Buyer Programs in Louisiana
No matter where you hope to live in Louisiana, you’ll never be far from great music, delicious food and other exciting activities. Unfortunately, picking a mortgage is much harder than picking a neighborhood, but a first-time homebuyer program could help.… read more…
- First-Time Home Buyer Programs in Missouri
With expansive plains, bustling river towns and below-average mortgage rates, we don’t blame you for wanting to plant your own roots in Missouri. The purchase of buying your first home can be intimidating, though. The federal and Missouri state governments… read more…
- First-Time Homebuyer Programs in Nevada for 2024
Nevada has been of the fastest-growing states in the country over the past several years, which means a good amount of homebuyers looking to buy. But if getting a mortgage or paying a down payment is holding you back from… read more…
- First-Time Home Buyer Programs in Idaho
Thanks to beautiful scenery, relatively affordable mortgage rates and robust economy, Idaho is an great destination for new homeowners. If you’re thinking about settling in the Gem State, check out first-time homebuyer programs from the the federal and Idaho state governments. There are down payment… read more…
- First-Time Home Buyer Programs in Montana for 2024
The federal government and the state of Montana run several programs for first-time homebuyers in Big Sky Country. Depending on your exact needs and circumstances, there are multiple types of loans that you have access to. Some loans require a… read more…
- First-Time Home Buyer Programs in South Dakota
The South Dakota state government and the federal government both offer special programs for first-time homebuyers who need loans to purchase a home. Which loans you have access to will depend on your exact needs and circumstances, but there are many… read more…
- First-Time Home Buyer Programs in Georgia
No matter where you hope to settle in Georgia, housing costs usually will be relatively affordable compared to many other states. Buying your first home can still be intimidating, of course. Georgia’s Department of Community Affairs and the federal government… read more…
- First-Time Home Buyer Programs in Indiana
First-time homebuyers in Indiana can access a number of programs designed to help them buy a house. Some cater to low-income individuals with less-than-ideal credit scores. Others are designed specifically for public servants like firefighters and teachers. No matter what… read more…
- First-Time Home Buyer Programs in Iowa for 2024
Purchasing your first home in the Hawkeye State can be intimidating and expensive. It will likely include financial situations and conversations you’ve never encountered before. Luckily, the federal and Iowa state governments have created first-time homebuyer programs just for borrowers… read more…
- First-Time Home Buyer Programs in Maine
Maine is a state of fresh lobster, beautiful fall foliage and 3,478 miles of coastline. If you’re considering buying a home in the Pine Tree State, you should be aware of the special programs – from both the federal and Maine… read more…
- First-Time Home Buyer Programs in Delaware
With just plenty of historic charm and seaside beauty, Delaware cracks SmartAsset’s top 10 states for the middle class. If you’re hoping to buy a home there, be sure to check out the various homebuyer programs offered by both the… read more…
- First-Time Home Buyer Programs in Oregon
Both the federal and Oregon state governments offer loan programs in an effort to simplify the entire mortgage application process for newbies. There are a number of choices available, depending on your income, down payment amount and other typical factors.… read more…
- First-Time Home Buyer Programs in Utah for 2023
Both the federal government and Utah Housing Corporation sponsor first-time homebuyer programs and down payment assistance to help Beehive State settlers achieve homeownership. Some cater to low-income individuals with less-than-ideal credit scores. Others are designed specifically for public service professionals… read more…
- First-Time Home Buyer Programs in Michigan
Michigan’s economy has experienced its ups and downs over the last few decades. Population decline and the national housing crisis have driven prices and mortgage rates down, making it homeownership more attainable in the state. Some cities are even paying… read more…
- First-Time Home Buyer Programs in Washington
Buying your first home is an intimidating and expensive process and one that will ultimately have a big impact on your financial plan. That’s why the federal and Washington state governments have created programs to help first-time homebuyers with access… read more…
- First-Time Home Buyer Programs in Virginia
Thinking about joining the eight million people who call Virginia home? Before you buy a home in Old Dominion, you may want to consider some of the mortgage programs that make it easier to get a mortgage. Many are specifically… read more…
- First-Time Home Buyer Programs in Arizona
Dramatic landscapes, mild winters and a relatively low cost of living are drawing an increasingly diverse population to the state of Arizona, including new parents and retirees. In fact, it’s one of the 10 fastest-growing states in the country. If… read more…
- First-Time Home Buyer Programs in New York
For New York residents, there are a number of federal- and state-level programs that are designed for first-time homebuyers. These programs can focus on easy-to-meet down payment requirements, specific home locations, low interest rates and more. A few offerings even cater to… read more…