Top 10 Things to Consider When Buying a Home


There has been a lot of changes in the loan and real estate industry over the last two years. It's essential for a first time home buyer to be aware of all of these changes. Most lenders are accepting low down payments and higher debt levels for borrowers. Therefore, it's easier to qualify for a loan. Home prices are rising gradually and this trend will be seen for some time. Loan rates are expected to increase. A first time home buyer doesn't need to make a large down payment to buy a home. Today, there are mortgage programs that require a low or no down payment. Keep in mind that most closed home loans were issued to borrowers with a credit score of six hundred or above. This blog provides valuable information about - 10 things a first time home buyer should know.

Comments

Post a Comment

Popular posts from this blog

Mortgage Prequalification Vs Mortgage Preapproval

Image
Many people have to go through a process of prequalification and preapproval when they are ready to buy a home. However, they often get confused between these terms. Check this blog by Drew Mortgage Associates, one of the best Massachusetts Mortgage Companies , to understand Mortgage Preapprovals Vs Mortgage Prequalifications better. Read now!  
Read more

Mortgage Fraud: Everything You Need To Know

Image
Mortgage fraud is a major issue in the United States. It is a type of fraud that occurs when a mortgage application contains inaccurate or misleading information. It involves misrepresenting the borrower’s income, assets, liabilities, or employment status to qualify for a loan. Check out this blog by Drew Mortgage, one of the best mortgage lenders in Massachusetts , to learn more.
Read more

4 Types of Mortgage Loans Homebuyers Need to Know

Image
Mortgage loans are typically extended to individuals with good credit, meaning they have a high credit score and collateral to back up the loan. Mortgage loans come in four main forms and as homebuyers, you must know about them. In this blog, Drew Mortgage Associates, one of the leading mortgage companies in Massachusetts , shared the different types of mortgage loans available in the USA. Read now! 
Read more