First Time Home Buyer

USDA Loan Income Limits For 2023 (Plus Eligibility Requirements)
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USDA Loan Income Limits For 2023 (Plus Eligibility Requirements)

USDA home loan income requirements change yearly – largely based on income. USDA loans are fantastic for those who want to live in a rural location. They have several major benefits: But USDA loans are also a special type of loan not everyone can get. They are for rural properties and low to moderate-income households. …

Does Co-Signing a Mortgage Affect a First-Time Home Buyer?
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Does Co-Signing a Mortgage Affect a First-Time Home Buyer?

You haven’t bought your own house yet, but you’re being asked to co-sign a mortgage for someone else. Does co-signing affect a first-time home buyer? What will it mean for your first home? Co-signing is one of the least well-understood concepts in the mortgage world. In short, co-signing doesn’t impact your long-term chances of getting…

How Long Does It Take To Buy A House In 2023
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How Long Does It Take To Buy A House In 2023

Have you ever wondered how long does it take to buy a house? Everyone’s path to homeownership is unique. The road may sometimes be straight and smooth, while at other times, it can curve, take a detour, or include unexpected potholes and obstacles. That’s why no two house-purchasing journeys are the same, and neither are…

How Much Is A House Down Payment: An Essential Guide
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How Much Is A House Down Payment: An Essential Guide

When it comes to buying a house, one of the most important financial considerations is the amount of the down payment. The down payment is the initial lump sum of money a homebuyer puts toward purchasing a property, with the remaining cost financed through a mortgage. The amount required for a down payment can vary…

Pay Off Student Loans or Buy House in 2023? Your Questions Answered
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Pay Off Student Loans or Buy House in 2023? Your Questions Answered

Should you pay off your student loans or buy a house in 2023? This is a typical question without a typical answer. Traditionally, the question has been whether you should pay off your student loans (often at around 6% interest) or buy a house (often at 3% interest). It was still complicated, but it was…

23 Crucial Mistakes to Avoid When Buying Your Dream Home
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23 Crucial Mistakes to Avoid When Buying Your Dream Home

Buying a house is an exciting milestone in life but can also be daunting, especially for first-time homebuyers. The path to homeownership is full of pitfalls, and one wrong step could lead to a lifetime of regret. With so much at stake, educating yourself on the process and avoiding common mistakes that could cost you…

What are the Documents Needed for a Mortgage Application?
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What are the Documents Needed for a Mortgage Application?

What are the documents needed for a mortgage application? Get ready to get familiar with both your bank and your HR department. Since the housing crash, lenders have become far more strict about documentation. Years ago, subprime, no-doc loans ran rampant. Now, you must document everything about your income and assets. But it doesn’t have…

A Simple Mortgage Process For First-Time Home Buyers
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A Simple Mortgage Process For First-Time Home Buyers

If you’re a first-time homebuyer, the mortgage process may seem daunting. But it doesn’t have to be. Lenders go through thousands of mortgages a year. Consequently, they have a pretty set pattern for mortgage lending-and usually, it runs like clockwork. Here’s a simple overview of what you can expect when applying for a mortgage. Get…

How Much Money Should I Save Before Buying A House
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How Much Money Should I Save Before Buying A House

There’s no magic figure that someone should save before buying a house. There isn’t even a formula involved, because it’s so dependent on the market that you’re in. But that doesn’t mean that I can’t offer some guidance. If you’re trying to buy a house in a hot market, you likely want some reassurance that…

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