Forgotten Your Password?

Need to Register?

Home Purchase Articles

Buying a Home - Things to Consider
Buying a home is likely to be the largest, most significant purchase of your life. While it is part of the "American dream," it can be equally as stressful as it is exciting for many homebuyers. Securing the right home mortgage loan involves the consideration of many...
Mortgage Application Checklist
In today's volatile underwriting world, lenders will require many documents from you to feel comfortable approving you for a home loan. Below is a list of standard documents that are required for just about everyone.. However, every situation is unique and you may be...
Questions to Ask When Buying a House
Buying a house is a long-term commitment and it is essential to do your due dillegence on the real estate property before making the home yours. There is no easy way out of the mortgage if issues arise in the near future, so asking the following questions may prevent any...
Your Guide to Financing a Second Home
Financing a second home mortgage is challenging, but possible. We will discuss the methods available to homeowners to alleviate some of the funding burden. Depending on the financial circumstance, you may borrow from yourself, spend your savings, pull a new loan or combine...
How to Choose a Realtor
Interviewing several potential real estate agents is key for finding the right one for you. Good agents are often just as selective when choosing their clients, since their reputation in the industry is what garners much of their business. They want to serve you to the best of...
Making the Decision to Buy a Home
Becoming a homeowner has without question been glamorized as the American dream. To make reality of this dream, you will endure risk, sacrifice and commitment. Keep your head up, only through risk will you receive the most reward. Before making this life changing decision, let...
Can I Afford a Home?
Do you think you could qualify for a home loan as a first time homebuyer? Believe it or not, your chance of being denied on your first loan application attempt is approximately 33%! The good news is that there are steps you can take to increase your chance of qualifying the first...
6 Reasons Why Buying a Home Is Smarter Than Renting
For first time home buyers with favorable credit and modest savings, there are many different types of mortgage loans available to suit most situations. Whether you choose from an FHA mortgage loan, VA loan, ARM loan or others, the benefits of homeownership are many.. Consider...
Should I Switch Mortgage Lenders?
If you want to refinance your home, you will likely want to switch to a new mortgage provider in order to take advantage of reduced rates and more lenient terms. Sometimes, however, your current mortgage lender will offer you the best rates in order to keep your business and...
Is Buying a Home a Good Investment?
Individuals and families have used homes as tools to build significant wealth for decades.  But in our economy's current state, many homeowners are losing significant money on their homes.  Many experts believe that homes won't be good investments...
Can I Obtain a Home Loan While on Probation?
Landing a new job isn't always your ticket to home loan approval. In fact, if your new job is contingent on making it through a probationary period, don't be surprised if your mortgage isn't approved. Even though your pay stubs show that you can afford the payments,...
Open House: How To Use It To Get Your Dream Home
Going to a real estate open house is a favorite experience for many people seeking a home. Whether you're in the market to buy a home, or just simply curious, open houses provide a chance to see what's out there without a commitment.. If you're new to open houses, and...
Home Sales Tax Break: Making the Most of Home Sale Profits
According to economic statistics, home prices have begun to rise slightly this year. In particular, 84 of the top 100 markets have seen an annual home value increase of 3.3%. While not a drastic rise in prices, this increase provides some relief for the troubled housing market...
Home Rental Rates Continue to Rise
Since the decline in housing prices, more homeowners have been less motivated to sell and more inclined to keep their homes by renting. This factor combined with others has helped rental rates reach a 15-year high.. Recently, the Department of Commerce’s Census Bureau...
The 7 Steps in the Home Purchase Mortgage Process
There are seven critical steps in the process of obtaining a mortgage to fund a home purchase or refinance.  Depending on which of these goals you're aiming to accomplish, the process will look different.  We're assuming that many readers are first time...
Common Costs Associated With a Home Loan
There are many costs associated with a home purchase mortgage loan.  Some of these costs different depending on the exact nature of the loan you're seeking, but most of them remain fairly constant regardless of the loan type or product you choose.  Some of these...
How Can I Find The Perfect House?
Lender411 has compiled the best tips to help you choose your home. These tips cover the type of mortgage, type of home, and last but not least resale considerations of your home.  Read on to get the info you need to get you into your new home fast!. Once you've narrowed down...
Is Now The Right Time To Buy a House?
Now is the time to buy your house. Many people are hesitating to jump in the current market, but this is actually a great time to start shopping for your dream home. Here's why:. The job market is stabilizing.Many areas in the country are seeing employment growth again,...
What is the Difference Between a Condominium and a Townhouse?
What is a condo? Is condominium just a fancy word for townhouse? Not quite, the difference is actually regarding the legal ownership of the home. It is literally the difference between becoming a “home owner” or not. To determine what is best for you, let us define...
The New Home Shopper's Checklist
Once you have an accurate estimate of your budget, it’s time to go shopping for your new home. You’ll want to keep the following home attributes in mind in order to ensure your property is not just a comfortable nest, but a worthy investment.. Home shopping can be fun,...
Buying a Second Home
Interest rates are at historical lows and you might be thinking of purchasing a second home mortgage. Before you commit to another loan, evaluate the circumstance to ensure your reward is worth the risk. Identify your current financial circumstance, future life goals and...
How to Buy a New Home While Selling Your Current One
This can be a challenging task considering the stipulations of debt to income ratios and funding a down payment on the new home for reasonable monthly payments. The logical route is to sell your home first and find temporary living until you have found a new home and moved in....
10 Best Places To Live In The US
If you’re ready for a move and asking yourself the question of “where should I live?”, it can be hard to choose a direction. After reviewing countless cities around the country, we’ve found many gems and compiled them into a list of some of the best...
5 Financial Steps to Take Before You Apply for a Mortgage
Ever been turned down for a mortgage?  You’re not alone.  Many homebuyers must apply to multiple lenders before getting accepted for a loan.  If you’re stuck in a rejection rut, these five financial tips will help you find success on your next...
4 Signs of Housing Market Improvement
Projections for the Spring 2013 Home Buying SeasonLooking back at the past five years, most borrowers, whether they were severely affected or only mildly so, can attest to the downturn in both the housing market and the mortgage industry. With such a sharp decline in these...
7 Tips for Selling Your Home in a Down Market
It’s always been challenging to sell your home and recently it’s become even harder. Even after trying the latest ways to improve your home’s appeal, there are always more ways to make your property standout to home buyers.. We have spoken with many real...
6 Issues Every Homebuyer Should Negotiate
When purchasing a product, whether it is a home or something less expensive, buyers can frequently negotiate with the seller in order to reduce the price and get a more advantageous deal.. In the mortgage process, buyers can also negotiate with their lenders to acquire better...
5 Financial Requirements for Buying a House
When making a first time home purchase, often borrowers do not know what to expect and are not financially prepared for this large commitment. With many confusing steps and various complicated details, it comes as no surprise that first time borrowers may need some advice for...
5 Ways to Qualify for a Mortgage as a Young Adult
In the current economic climate, home loans can be difficult to obtain for young adults. For graduating college students and other young adults looking to own a home, the mortgage approval and financing process can be complicated and confusing. However, with some knowledge...
Making the Decision to Buy a Home
Becoming a homeowner has without question been glamorized as the American dream. To make the dream a reality, you will endure risk, sacrifice and commitment. Keep your head up - only through risk will you receive the most reward. We will help you make this life-changing...
Buying an Investment Property
The significant benefit to renting out your second home is the ability to create another source of income. Property investment is a great opportunity for homeowners pay for the new mortgage, while still growing equity in both residences. There are essentially two types of...
Financing an Investment Property
Upon purchasing a second home mortgage, your lender will be very speculative of your intentions to rent the property for supplemental income. If you do plan to rent the property, you may use the intended rental income to balance the debt-to-income ratio and improve the odds of...
Does Your Home Meet Your Lifestyle Needs?
If you’re a first time home buyer, remember to check your lifestyle needs against your financial constraints before you decide to buy.  If you don’t, you may waste time and money on a home purchase that doesn’t fit your family or career needs in the...
What is a Conventional Loan?
The term conventional loan describes any mortgage loan that is not guaranteed or insured by the Federal Government. These loans typically follow the loan limits and guidelines set forth by the Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac, in which...
USDA Loan Requirements
The USDA loan program, also referred to as the Rural Development loan, or Rural Housing Loan, is a unique loan product offered by the United States Department of Agriculture (USDA), targeting residents and prospective residents of rural communities. USDA loans provide...
Buy a House After Short Sale
Following a short sale, borrowers may find it challenging to obtain mortgage loans. With a significantly lower credit score, borrowers who qualify for a mortgage loan will probably not be able to secure the most advantageous rates or acquire their optimal loan type.. In some...
Home Appraisal Tips
A real estate appraisal is a document that gives an estimate of a property's fair market value through valuation. A property assessment is generally required by a lender before loan approval to ensure that the mortgage loan amount is not more than the value of the property....
What are Closing Costs?
The term closing costs generally refers to all the costs associated with closing a home purchase or refinance. A more accurate term to reflect these costs is settlement costs. Settlement costs include 4 categories: lender fees, third party fees, prepaid items and...
What is an FHA Loan?
An FHA loan is insured by the Federal Housing Administration. Since FHA guarantees to pay the balance in the event of a loan default, rather than the lender having to write it off, FHA loans are open to people with little to no credit history, poor credit history or to those...
What Is a USDA Loan?
The USDA Rural Development Loan Program was created by the United States Department of Agriculture to serve the rural housing market. USDA loans are insured by the USDA. The program began in 1991 in an effort to increase home ownership in the rural areas, while incentivizing...
What Is an Assumable Mortgage?
In the mortgage industry, assumption of a mortgage loan refers to the ability of a mortgage loan to be transferred from the seller of a property to an interested buyer, who then takes over making mortgage payments on the seller’s pre-existing loan.. When interest rates...
Factors That Influence Mortgage Interest Rates
Mortgage rate values are determined by a host of different factors including the economy, stock and bond markets and the borrower financial standing. The most important bond to watch is Mortgage Backed Securities (MBS) (which are heavily determined by 10-year treasury...
Buying a Condo ? Consider These Tips
Purchasing a condo can be very much different from purchasing a single family home. One of the most important criteria for deciding whether or not to go with this option is know the monthly maintenance (HOA) fee.  Many buyers are priced out of range due to the high fees that...
Who Pays Closing Costs? Buyers or Sellers?
When you buy a home, there's more that comes out of your pocket than just the down payment. Closing costs make up a large chunk of the money you'll have to put out to purchase a house. They can include origination fees, appraisal fees, title policies, recording fees,...
Buying a Home With a VA Loan
1. Determine eligibility.Prior to taking the steps necessary to apply for a VA loan, borrowers should determine whether or not they meet the strict eligibility requirements, as the Department of Veteran Affairs only issues mortgage loans almost exclusively to active duty...
What is MLS?
MLS is a term many first time home buyers are likely to run into. It stands for multiple listing service, which is a database that every home listed for sale by a real estate agent is entered into unless it is specifically exempt.. Only real estate agents and other professionals can...
What Is a Co-Borrower ?
Following the housing market collapse at the end of the last decade, many borrowers have found it increasingly difficult to acquire home mortgage loans, due in part to lender criteria regarding borrower income, assets, and other factors. In response, some borrowers choose...
What is an Interest-Only Mortgage?
With an interest-only mortgage, the borrower takes out a 30-year mortgage, electing to pay interest only for a set period of time, such as 3, 5, 7 or 10 years. After the end of the interest-only period, the monthly payments readjust to include the principal, and the loan is...
Which Closing Costs Are Negotiable?
For home buyers securing a mortgage loan, closing costs can represent a significant expense, especially combined with the price of a down payment. As such, borrowers must save up a sum of money before a home purchase to cover these expenses.  However, with some sound...
Buying a Home after Bankruptcy
In the face of bankruptcy, buying a home may seem like an impossible endeavor. Many people believe that low credit scores prevent them from ever qualifying for a mortgage loan in the future. Although buying a home after bankruptcy is not without challenges, qualifying for a...
Subscribe to our news feed.