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home financing

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Financing & Insuring

What is a VA Loan?

November 9, 2018

A VA home loan is a mortgage loan guaranteed by the Department of Veterans Affairs. It was designed to help the men and women of the U.S. armed forces buy, refinance or improve their homes. Because VA mortgages are backed by the government, the risk to lenders is low—allowing them to offer VA loan rates that are generally more favorable than conventional loan rates. Other benefits of VA loans may include: Purchasing a home with no down payment, subject to VA guidelines in your area.…

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Financing & Insuring

Who can qualify for a VA loan?

September 18, 2018

Zero money down.* Limited closing costs. No monthly mortgage insurance premiums. Borrower’s choice of a fixed-rate or adjustable-rate mortgage. Sounds nice, right? They’re all potential perks of financing your home with a VA loan, but you have to belong to a very particular subset of homebuyers in order to qualify for one. To assess your eligibility, see if any of the following criteria describes you. ☐ Active member of the military ☐ Military veteran ☐ Served in the Selected Reserves or National Guard for at…

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Buying a Home

Cost Comparison: Rent or Buy

August 30, 2018
Couple calculating finances

There are many benefits to being a homeowner. From a purely financial perspective, there are tools to help determine the cost of renting versus buying a home. Comparing the cost of renting to buying usually depends on key factors, such as budgeted monthly rent, target home price, the length of time you plan to live in the home and what your mortgage rate would be. Estimating these values can help determine if buying is financially advantageous. In addition to the actual buying costs, it is…

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Financing & Insuring

First Steps for Buying a Home After Foreclosure

August 1, 2018
Family sitting on sofa

It’s already been a decade since the start of the Great Recession, and many former homeowners sidelined by foreclosure are ready to jump back in the market. If you’re one of them, first of all, hooray! Secondly, we’ve listed a few good first steps to help you navigate the process of buying after foreclosure. We hope they help you on your journey back to homeownership. Review foreclosure waiting periods No matter how well you’ve reorganized your finances and reestablished credit, you will probably have a…

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Financing & Insuring

Deciding on a Conventional vs. FHA Home Loan

May 21, 2018

Federal Housing Administration (FHA) and conventional (or conforming) home loans have long been the most common mortgage options on the market. But which one is right for you? First, it’s important to clear up a major misconception that an FHA home loan is only for first-time homebuyers. While that’s a myth, it is true is that FHA loans have historically been more attractive to first-time homebuyers due to lower down payment requirements and interest rates. But as you’ll see, the differences between FHA and conventional…

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