A down payment assistance program can help you achieve your dreams of home ownership, but there are both advantages and disadvantages you should know about.
Looking for down payment assistance for a Florida home in 2024? These four first-time homebuyer programs may help.
Think it’s difficult or even impossible to purchase a home in 2024? You may be surprised to learn that home ownership is quite feasible for many Florida residents. If you’ve been holding off on a home purchase because you believe you can’t possibly qualify for a loan, you’ll want to
A condo can be a highly affordable option for home ownership, but owning one is a little different from owning a stand-alone single family home. Condos even come with special loans known as condo mortgage loans that account for these differences. See also: How Does a Condo Mortgage Work? A
The ability to calculate ROI on a rental property is a critical skill if you want to become a successful real estate investor. ROI calculations tell you what you can expect when you add a property to your portfolio, and whether it is worth pursuing. Of course, ROI calculations alone
Owning rental property is one of the most reliable ways to build wealth. Yet nothing comes without problems. If you want to build wealth with rental property, you’ll be taking on a whole host of new responsibilities. So it’s important to understand what you’re jumping into before making any decisions
Purchasing investment properties is one of the world’s most reliable ways to grow wealth. Yet many people assume investment properties are out of their reach. If you’re someone who thinks only rich people get to invest, here’s great news. There are many options for investors, and many are available to
Three days after you apply for a mortgage you will receive a 3-page document called the Mortgage Loan Estimate. The law requires residential lenders to provide you with this standardized document so you can make an informed decision about whether the proposed home loan is right for you. You should
When you take out a mortgage in the United States, you can do so knowing you enjoy many protections under the law. One of those protections comes from the 1974 Real Estate Settlement Procedures Act, or RESPA. RESPA requires mortgage lenders to disclose all loan costs. It also prohibits kickbacks,
When you obtain a mortgage, you want to know you’re doing business with a fair, integrity-first company who will meet all the terms of your agreement. You don’t want to discover a “gotcha” in the fine print which might cost thousands of dollars. Choosing the right mortgage lender helps. But
The Dodd-Frank Act was the government’s answer to the 2008 mortgage crisis. It was meant to shut down risky lending practices and established several new authorities and bureaus to oversee the stability of the market. Some important parts of the Dodd-Frank Act that mortgage borrowers should know about include: Critics
In 1968, Lyndon B. Johnson passed the Fair Housing Act. This was the landmark law that made it illegal to discriminate in housing transactions. The law was expanded again in 1975 and again in 1988 to become the law that it is today. The Act prohibits any mortgage lending agent,
Exploring a refinance because you want to lower your monthly mortgage payment? A rate-and-term refinance is one of the most reliable methods for meeting this important financial goal. During the rate-and-term refinancing process, you’ll pay off your old mortgage by taking out a new mortgage, one with a lower interest
A cash out refinance allows you to take advantage of your home equity by receiving a lump sum payment when you close on the new loan. You’ll create a new mortgage for an amount larger than the amount currently owed, and then you get paid the difference. Cash-out refinances can
You should give at least as much thought and care to choosing a refinancing lender as you did to choosing your first mortgage lender. You’ll be with that lender for a long time still, and you want to know that you’re enjoying the best rates and terms that you can.
30 years is a long time to be in debt (as is 20 years if you opted for a 20-year loan term), and let’s face it. Your home loan is likely to be the biggest debt you’re dealing with right now. So while refinancing to a shorter-term loan might increase
You’ve selected a home you love. You’ve put in the offer. Now, your lender wants you to get an appraisal done. What is the role of the appraisal, and how will it impact your home purchase? Here’s everything you need to know. What is the primary purpose of an appraisal?
Refinancing your mortgage may be intimidating, but it can often place you into a better financial position. The trick is to know how and when to apply for a refinance. In general, there are five situations where a refinance might be a good idea. When your interest rate is higher
Life happens—even when you’re trying to buy a new home. The long lead-up time between making an offer on a home and closing on a home offers a lot of room for life to start happening, and for things to go wrong. Sometimes, it’s 100% necessary to back out of
You’ve decided to take the exciting step of buying a home. It’s a fantastic achievement, but navigating the world of mortgages can feel overwhelming. There are so many mortgage options, and finding the right fit for your financial situation is crucial. That’s where The Doce Group, one of the best
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Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Loan approval and terms are dependent upon borrower’s credit, documented ability to repay, acceptability of collateral property, and underwriting criteria.
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