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)[…]

If you WANT TO HELP your child buy a home for the first time, then you need to understand the Family Opportunity Mortgage Program. The little-known option lets people obtain mortgage financing for a college-bound child, disabled adult child or elderly parent without the expense associated with purchasing an investment property. What’s more, you’re not Read more about Want to help your child buy a home? There’s a unique loan for that[…]