We ran the numbers and found that a car payment can reduce homebuying power significantly. How much can you afford if you make a big car purchase?
We dug into the numbers to find out what someone needs to make to potentially qualify to buy a $300,000 home.
USDA loan pre-approval provides an accurate idea of the loan size you may qualify for and gives you a competitive advantage when making offers on homes.
Seller concessions can be used to cover your out-of-pocket closing costs, with the USDA setting the maximum contribution limit at 6% of the home’s purchase price.
Having student loans won’t prevent you from qualifying for a USDA mortgage, but they will count toward your debt-to-income ratio, which can affect how large of a loan you are eligible for.
If you’re looking for an affordable option beyond a traditional site-built home, an FHA loan on a manufactured home could be the key to achieving your homeownership dreams.
Homeowners may need to wait up to 12 months before refinancing a government-backed mortgage or cash-out refinance. Some refinances are available right away for homeowners who can benefit from its terms.
The average age of first-time buyers is now a record-high 38. How to buck the trend.
USDA direct loans are more challenging to qualify for but offer lower monthly costs. USDA guaranteed loans are more widely available but have slightly higher, although still competitive, interest rates and payments.
FHA recently announced a change to its boarder rental income guidelines, and it could mean expanded affordability for struggling first-time buyers.
