Tag: VA Loans
-
Looking for a Path to Homeownership? Look Again at Down Payment Assistance.
The typical person can’t afford the typical home. As property values keep rising, down payments aren’t getting any easier to make. If you know the feeling, have you looked up down payment assistance? It can be a grant, with no repayment requirement. Or it could be a loan — possibly a forgivable loan. Even if…
-
The Rise and Rise of Down Payments
A down payment is the portion of a home’s purchase price the mortgage borrower pays upfront. You knew that. But did you know the median down payment for U.S. homebuyers is now more than $55K+? That’s remarkable. It was less than $45K just last year. Buyers often try to put 20% of the purchase price down.…
-
Buying a Home on Disability: What to Know
For all hopeful buyers, whether or not they have disabilities, getting a mortgage comes down to a rather simple formula. It’s about how much a loan applicant spends, versus the applicant’s stable income. And yes, stable income includes disability benefits such as Social Security Disability Insurance (SSDI) and Supplemental Security Insurance (SSI). Disability income might…
-
Wraparound Mortgages: When They’re Used and How They Can Help
Ever heard the term wraparound mortgage? Because this is actually a set of two mortgages for the same home, it’s more complicated than a regular mortgage. It can present special risks, and it’s less commonly seen in the world of real estate. That said, some have used it to be able to get a home…
