Affordability

First-time home buyers are often young and financially stressed, struggling with student loan debts, car payments and the costs of raising young children. Even for couples with two incomes, the task of saving for a down payment can seem impossible. But wait, why not borrow from a 401(k)-retirement account to cover the down payment? It’s […]

You don’t have to be married to live out the American dream of owning a home. Co-buying is a way for unmarried individuals to get out of the cycle of renting and begin building equity in a home through shared ownership. It’s been gaining popularity over the last few years with co-buyers purchasing 16.3% of […]

Nearly a third of homes sales go to first-time buyers, a group as enthusiastic as it is inexperienced and whose dreams are as big as its bank accounts are small. There were 2.1 million first-time home buyers in the U.S. in 2017, about 300,000 more than the historical average. The first thing they learn is […]

Mortgages remain one of the most complained about financial products, according to the Consumer Financial Protection Bureau. Mortgage provider complaints fall into four main categories: Complaints about the foreclosure and loan modification. Consumers complain that the loan modification process is slow and confusing. Additionally, that mortgage companies move quickly toward foreclosure, while loan modification applications are being […]

Fannie Mae’s new program, HomeReady, will help middle and low income Americans achieve their dream of homeownership. HomeReady will consider income provided by extended family members and non-family members as qualifiers for a mortgage. Additionally, there will be no income requirements for property in certain low income communities. Read more about HomeReady.

New mortgage rules are in place that should make it easier for home buyers to compare lending terms. Learn more about the forms and their purposes here. New Mortgage rules and How to Make the Most of Them