As the HGTV hit show “Fixer Upper” promises, “we take the worst house in the best neighborhood, and we turn it into our client’s dream home.” If you have your eye on a fixer-upper in Hampton Roads, a renovation home loan could be the answer. Did you know you can borrow funds to perform almost Read more about Thinking about a fixer-upper? Consider a renovation loan[…]
Don’t have the funds for a down payment? Keep reading. Increasingly, millennials and other first-time homebuyers have trouble finding the money for the down payment. Along with debt and low credit, it’s a major barrier to homeownership. The Virginia Housing Development Authority recognized the issue and has taken steps to make it easier for first-time Read more about Thanks to new program, it’s now easier for first-time homebuyers to come up with down payment[…]
When a homebuyer wants to purchase a home with a large loan amount, another big number enters the picture: 20 percent. For a conventional loan in Hampton Roads that exceeds $458,850, the loan program is considered a jumbo loan product that requires a 20 percent down payment (by most investor guidelines). If you’re like many Read more about Jumbo home loan? There is an ARM for that[…]
It’s important for potential homeowners to know all the options available as they look to buy a house. Sometimes, the opportunity to own a home is closer than you think. That may be the case with the grant program from the Federal Home Loan Bank. Whether you’re a first-time homebuyer, civil servant or current/retired military, Read more about Home loan program helps first-time buyers, civil servants and military[…]
As soon as my clients hear the words “conventional loan,” they think to themselves, “I’ll need to have 20 percent for the down payment.” Not so fast. There is another, lesser-known loan program called the HomeReady mortgage from Fannie Mae. With the HomeReady mortgage, you can use as little as 3 percent for the down Read more about A conventional loan that doesn’t require 20% down? (No, really)[…]