FirstTimeHomebuyer Blog

10 Reasons to Cash Out Refinance

1. Pay off debt You could pay off credit card debt and end up paying less in interest. By paying off the credit cards with equity from the home, you are shifting the debt into your mortgage. Credit cards often are at higher interest rates, and if you only make the minimum payments on the […]

Improve Your Credit Score

Low or bad credit is one of the biggest hurdles that potential homebuyers face. Qualifying and securing a home loan is an obvious vital step in the home buying process, but most mortgage lenders require a minimum of a 620 FICO score in order to be approved for a home loan. Understanding Your Credit Score […]

The Four Most Common Low-or-No Down Payment Mortgages Used By First-Time Home Buyers

The four most common low-or- no down payment mortgages used by first- time homebuyers are a FHA loan, a VA loan, the USDA loan and the Conventional 97 loan.  FHA Loan – FHA Loans only require a down payment of 3.5% of the home’s purchase price. The Federal Housing Administration insures each loan and features lower underwriting standards and […]

Low-or-No Down Payment Options for First Time Homebuyer

The greatest obstacle in purchasing a home today is a mortgage down payment, but it doesn’t have to be, especially for first-time homebuyers. Many are unaware of all the resources that are available through the private sector and even some government provided assistance. This article will outline several different types of zero-or- low down payment […]