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first time home buyers: FHA may be Your Best Choice - 07/04/11 11:10 PM
The demise of subprime, no-documentation and no-down-payment loans is more than three years in our rear view windows. Many folks with credit challenges and little cash have turned to Federal Housing Administration (FHA) and Veterans Affairs (VA) loans for their home financing needs.\
While the FHA has recently tightened itsstandards, it’s one of the only options for a low down payment. Consider the following:
FHA loans require just a 3.50 percent down payment in most areas. Maximum allowable loan amounts vary from $271,050 to $793,750, depending upon the area. Interest rates are competitive. Today’s 30-year fixed rates are as low as … (3 comments)
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first time home buyers: What type of Mortgage is Best? - 05/24/11 02:01 AM
A mortgage is a loan where the house and land are used as collateral for the loan. If the borrower fails to make his payments, the bank forecloses on that property. In the case of foreclosure, the bank may sell the house to clear the mortgage debt.
Here are some types of mortgages can help first-time home buyers understand the fundamentals:
Conventional Mortgage – this is a mortgage loan wherein the underlying terms and conditions meet the guidelines of Fannie Mae and Freddie Mac. Depending on market conditions and consumer trends, about 35-50 % of mortgages are conventional mortgage.
FHA Mortgage … (1 comments)
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first time home buyers: First-Time Homebuyers Face Decisions that Affect Their Long-Term Financial Picture - 03/06/11 01:06 AM
For first-time homebuyers, taking the step into home ownership is one of the most important financial decisions a person will make in their lifetime. There are many factors to consider when embarking on this venture. Many programs are available for first-time homebuyers, and it is important to find the one that best fits your personal long-term goals. First and foremost, you should have a mortgage consultant in your corner that is willing to take the time to know what your long-term goals are.
Communication is the key factor here, especially for first-time homebuyers. Curious prospective home buyers sometimes turn to Internet-based … (4 comments)
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first time home buyers: The New Breed - How to sell to the New , Younger , Homebuyers - 11/15/10 02:27 AM
If you have been noticing the real estate blogs and other websites regarding real estate, you might have noticed the influx of young people wanting to buy their own homes and be independent from renting and more embarrasingly, living with their parents. Now you might think this is a good sign that the market is finding a new demographic of customers, however, this age group is not without its challenges.
When I meant that these customers are young, I do mean young, as in 21 years old and up. When we look back at our 21st year, we can still oftentimes … (0 comments)
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Stephen Katz
Atlanta,
GA
More about me…
Katz Mortgage Team, a branch of VanDyk Mortgage Corporation
Address: 800 Johnson Ferry Road, Atlanta, GA, 30342
Office Phone: (866) 742-8400
Cell Phone: (770) 552-1000
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Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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