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The Benefits of Using a Veterans (VA) Loan To Purchase Your Home

November 11, 2022 by Michael Addison

U.S. military veterans have opportunities to enjoy some richly-deserved benefits in other aspects of their lives, including some special options for financing their homes. VA loans may give active military personnel, retired veterans, and sometimes surviving family members of veterans the ability to purchase homes that might not prove available to them through more conventional mortgage loans. But the mere fact that you can do a thing doesn't necessarily mean that you should. In some circumstances, military home seekers may find other types of loan options more amenable to their specific needs. If you've decided to pursue a mortgage loan during or following your military career, … [Read more...]

Filed Under: Home Buyer Tips Tagged With: Home Loan, VA, Veterans

A 20 Percent Down Payment: Is This Really Necessary?

October 20, 2021 by Michael Addison

Purchasing a home is a major decision, and it could be the most expensive financial transaction somebody ever makes. Therefore, it is important to get this right. One of the biggest hurdles for a new homeowner is coming up with enough money for the down payment. A lot of people believe they require 20 percent down to purchase a home. Saving this amount of money can be overwhelming, and some people are wondering, is this really necessary? There are several key points to keep in mind.  Putting 20 Percent Down Is Not Really Necessary When taking a look at the prices of homes, putting 20 percent down can seem like a pipe dream for most people. Fortunately, putting this amount of money down … [Read more...]

Filed Under: Mortgage Tagged With: Down Payment, Home Loan, Mortgage

What To Know About Shopping For Mortgage Rates

September 14, 2021 by Michael Addison

Applying for a home loan can be an exciting process; however, this is a major financial decision. Therefore, potential homeowners need to make sure they understand how to shop for the best mortgage rate possible. A mortgage is usually a long-term loan, allowing potential homeowners to purchase a home using small monthly payments. Fortunately, there are a variety of tools available that can make the process easier. What do potential homeowners need to know when shopping for mortgage rates?  Do Get A Pre-Approval Letter First, all potential homeowners need to get a pre-approval letter before they start the home-buying process. Because the market is competitive, buyers need to get a … [Read more...]

Filed Under: Mortgage Tagged With: Home Loan, Mortgage, Mortgage Rates

You May Need More Than You Think To Buy Your First Home

September 9, 2020 by Michael Addison

Those who are thinking about buying their first home soon are likely saving up for a down payment. This can be a challenging process because, for many people, this is the largest amount of money they have ever saved in their lives. Sadly, the amount that people might need to buy their first home is more than they think. There are numerous other costs that go along with buying and maintaining a home. As a result, people need to save up more than they think. Even for starter homes that are usually less expensive than family homes, there are numerous costs that need to be included. Think about a home that is $250,000. A 20 percent down payment is $50,000. That is already a lot of money. Even … [Read more...]

Filed Under: Mortgage Tips Tagged With: Down Payment, Home Loan, Mortgage Loans

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