If you’re a single mom and looking to buy a home, here are some of the loan programs that might work best for you. Check your home buying eligibility. Start here (May 14th, 2025) Single parents have a harder time qualifying for some mortgage loans ...
Maybe your parents had a 30-year fixed-rate loan, or your best friend has an adjustable-rate loan. That doesn’t mean either of those options are right for you. Some people like the predictability of a fixed-rate loan, while others might prefer the lower initial payments of an adjustable...
Other Ongoing Loans:If you have too many other loans, banks can choose to reject your home loan application. Since home loan lenders require that you contribute no more than 50% of your monthly income to your loan repayments, any other long-term loans could result in your application being...
If you're a senior who relies on Social Security as your primary source of income, the thought of securing a home loan can be daunting. However, there are home loans for seniors on Social Security specifically designed to meet your unique financial needs. This is particularly relevant for ...
Income is now considered from extended family living in the household who are NOT borrowers, so multi-generational households can help the buyer qualify. All borrowers no longer have to reside in the home being purchased. For example, parents can be a co-borrower on their children’s loan. ...
Getting preapproved for a loan eased her apprehension. "Once I realized how achievable it was, I got more excited," says McConnell. An intense month-long search led to a small, multi-level, Colonial-style house in the secluded Lake Arrowhead, California area within her price point. It met...
If you’ve never owned a home — or you have, but not recently — you might qualify for a first-time homebuyer loan or assistance. First-time buyer loans typically have more affordable rates and more flexible requirements, such as a lower minimum down payment or credit score. Many help ...
When you buy a house, you may have to pay "points" to the lender in order to get your mortgage. This charge is usually expressed as a percentage of the loan amount. If the loan is secured by your home and the amount of points you pay is typical for your area, the points are dedu...
and the ability to scrape a deposit together (the serious difficulty of which is one of the core reasons first home buyers can’t get a loan), you will be able to purchase something. Four Corners presented the story of a buyer – Jules McKendry – a 25 year old who has managed to ...
Home Loan Options with Affordable Down PaymentsNot everyone has high income or the luxury of time to save a large sum. It may also be harder to qualify for a traditional conventional mortgage, which typically requires a credit score of 680. And when you have a limited budget, it’s worth...