first time home buyers: Is 2015 The Year of the First Time Buyer?
- 02/15/15 09:45 PM
Some in the mortgage industry have taken to calling 2015 the year of the first time buyer due to low interest rates, dropping gas prices and the FHA taking the unprecedented step of lowering mortgage insurance premiums.What does this mean to you as a first time buyer? Whether you want to buy this summer or even sometime next year, there are things you need to do now to be ready. Know what's on your credit report Your credit history speaks volumes about you and they way you mange your money and your debt. The information collected by the big three collection agencies, … (1 comments)
Lakewood Ranch- Fannie Mae announced on December 8th that it is making much easier for first time buyers to purchase a home. First time home buyers will now have access to the 97% loan to value ratio loan for borrowers who earn a qualified income but aren't able to save enough for a 30 % down payment. This new loan will require borrowers to meet all of Fannie Mae's usually strict eligibility requirements along with income verification and private mortgage insurance. Generally a credit score of 640 or higher in necessary.
Some in the mortgage industry have taken to calling 2015 the year of the first time buyer due to low interest rates, dropping gas prices and the FHA taking the unprecedented step of lowering mortgage insurance premiums.What does this mean to you as a first time buyer? Whether you want to buy this summer or even sometime next year, there are things you need to do now to be ready.
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