Special financing. You’re familiar with the term, but its definition varies by industry. For example, some car dealers use “special financing” to describe financing options for people with bad credit who otherwise wouldn’t qualify for an auto loan. And some retailers have deferred-interest special financing options, which allow shoppers to make interest payments on their purchases at a future date. But here’s what you need to know about special financing when shopping for a new home. Read more.
Wondering if now is the right time to make a move? Today’s mortgage interest rates are very attractive, and we’ve detailed three ways in which you can leverage them to buy the home of your dreams. Read more.
With so many available mortgage options, it can be confusing to know which path is right for you. The following online resources can help you understand the differences between loan types and answer other questions that may arise when financing your dream home. Fannie Mae® This site has information on everything from estimating mortgage payments […]
Afraid you’ve missed the best rates? Good news: They’re still great! See how this year’s mortgage trends stack up against historical averages. The takeaway: Rates may fluctuate from week to week, but in general, it’s a great time to buy a new home. Concentrating on factors you can control (your savings, your credit score, your […]
If you’re familiar with private mortgage insurance (PMI), your gut reaction to that question is probably: it doesn’t. After all, the insurance is paid for by the homebuyer and it only protects the lender. Most articles about PMI focus on how to avoid paying it (have a 20% down payment ready!) or how to stop […]
Buying a home soon? Be sure to weigh your mortgage options. Click on each loan type in the chart to see if it might fit your situation. Remember, this is just a simplified starting point. Multiple loan options may be available to you. Your best resource for loan shopping is your loan officer. HomeAmerican Mortgage […]