Top Mistakes of First Time Buyers

Declining home values can be a boon for potential homebuyers. However, buying a home could be a daunting task, especially for the uninitiated. Here are some common pitfalls to avoid while making your first home purchase. Not Getting a Pre-Approval Many homebuyers look for homes before seeking a pre-approval...

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Pros and Cons of First Time Homebuyer Loans

Lenders make use of several programs initiated by the federal government to present loans catering to first time homebuyers. A first time homebuyer is an individual not listed on a deed as the proprietor of a real estate property. The loans aim to ease the path of homeownership for...

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Tips for Getting Mortgage Insurance

When you take out a mortgage to buy a home, you will have to pay back the loan over a set period. You may find it difficult to meet the scheduled repayments, if there is a decline in your financial circumstances at any time during the mortgage term. A...

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Mortgage Schemes for Key Workers

A key worker is a professional employed in specific public sector jobs like health, education and emergency services. The government has initiated several mortgage schemes for the purpose of engaging and retaining key workers in areas where housing costs are high. These programmes make available homes to these essential...

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A Guide to Equity Release Schemes

You may need to tap into your wealth or equity built up in your home, should you have to deal with essential expenses like medical bills, college expenses for your children or repairs on your home. There are equity release plans for the purpose. You may avail of the...

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The Features of Flexible Loan Products

A flexible mortgage allows you the choice of making mortgage payments according to your convenience. The changing job scenario with short-term contract employment and the grant of performance related bonus has increased the appeal of these mortgages. You may step up or reduce your repayments to suit your circumstances....

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Shared Ownership for a First Mortgage

A person who finds it difficult to make an outright purchase of a home can avail of various shared ownership schemes in the real estate market. Shared ownership offers a technique to individuals by which they can partly own a property and partly rent it. There are schemes sanctioned...

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First Buy Equity Loan Scheme for a Property

If you live in the United Kingdom and want to buy your first home, you can avail of financial assistance from different home ownership plans. The First Buy Equity Loan Scheme is a mortgage assistance programme that provides a respite through supportive aid. An Overview of the Scheme The...

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Evaluation of the Best Mortgage Loan for First Time Home Buyers

The first thought that passes through your mind when you plan on purchasing a home for your own use, will be about how much it will cost and how much of it can be covered by the money available to you either as cash or in some other form....

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Good News for Veterans with Bad Credit Rating Applying For VA Loans

Veterans, in general, and those who have been affected by the recent recession and consequent downgrading of credit score are bound to be a downcast lot. Recent developments should bring good cheer to them. The good news for them is lenders have started taking a more liberal view of...

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Deciding on an Escrow Account after a Refinance

The monthly mortgage dues of a borrower consist of homeowner’s insurance, private mortgage insurance and property taxes apart from the mortgage principal and interest payments. Lenders require that you pay the insurance amounts and the property taxes in an escrow account held by a third party called escrow services....

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HUD Guidelines for Manufactured Homes

A set of directives prepared by the Department of Housing and Urban Development (HUD) may have served to enhance the quality of manufactured homes. Homebuyers are quite willing to apply for mortgages for this highly affordable quality of housing. Here are the key guiding principles put forward by the...

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