Confused About VA Loans? Find Out What Veterans Should Know

February 28, 2014

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Fans of late-night TV will recall the infomercials of a few years ago, hawking zero-down loans. Those loans, along with loans requiring no documentation, were being handed out like candy to anyone who applied, and were largely blamed for the mortgage industry implosion. In the wake of that mess, mortgage lenders tightened standards. Lenders began [...]

Budgeting to Buy a House

December 6, 2013

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No matter how good the credit rating, today’s homebuyer no longer has the luxury of buying with little or zero down. Unless you are low-income with good credit, or a veteran, no-down loans are also a thing of the past. Most lenders today want at least 20 percent of the loan amount as a down [...]

Are You Ready to Buy a House?

May 10, 2013

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Cue Michael Buffer yelling, “Are you ready? Let’s get ready to rumble!” Buffer’s is a fitting soundtrack for the homebuyer in a seller’s market, trying to prevail in catching the seller’s attention. The better equipped with knowledge you are, the better your offer will look to the current owner of what you long to possess: the [...]

Can I Use My 401(k) to Buy a House?

March 29, 2013

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For many families, their 401(k) or other retirement plan is their biggest, most important asset. So it’s very natural to wonder if you can use your 401(k) to help make a down payment on a house. The answer is a qualified “yes.” It is possible to use a 401(k) plan to help with purchasing a [...]

Down Payment Help for First Time Home Buyers

August 2, 2011

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“Water, water everywhere … nor any drop to drink.” – Rime of the Ancient Mariner If you’re a first time home buyer, you might be able to sympathize with this statement. Thanks to the recent economic recession, there is no shortage of affordable homes, yet due to the mortgage crisis, lending has become tight. Prior [...]

Can You Still Buy with No Down Payment on a Home?

July 12, 2011

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For many first time home buyers requiring down payment assistance, the idea of putting the traditional 10 or 20 percent down on a home purchase can leave them feeling drained or hopeless. Will they have to sacrifice their dream neighborhood or home size simply to afford a pricey down payment? Fortunately, it may be possible [...]