If you’re a first-time home buyer (FTHB) with good credit, but you don’t know how you’ll come up with enough cash for a down payment, consider looking into down payment assistance (DPA). DPA helps first time home buyers, who qualify, cover their down payment through grants, loans, and other programs. These are typically offered by government agencies and some non-profit organizations.
There are different reasons to refinance your home. You may want to take advantage of the lower rates or change the terms of loan. You may need cash for home improvements, college tuition, medical expenses, or to pay off debts. If you’ve built at least 20% equity in your home, then a cash-out refinance is an option for you.
Are you well into retirement or about to retire and wondering if you have enough to cover your expenses or enjoy this season of life? If, after years of paying down your mortgage, you now need access to that equity, a reverse mortgage may be the right option for you. With a reverse mortgage, you can “borrow” against the equity in your home and have the funds to cover expenses that may not be covered by Medicare and your Social Security payments.
When you hear “USDA”, you’re more likely to think of your local grocery store than your local mortgage broker. Believe it or not, the USDA is in the mortgage backing business. What’s the connection? Rural development. USDA government-backed loans make it possible for low-income individuals in designated rural areas (geographic eligible areas) to purchase homes. It benefits individuals, families, and improves the communities and quality of life.
One of the benefits of serving in the military is the VA home loans program. VA loans are a great option for veterans, active-duty service members, and qualifying spouses. There are unique VA loan benefits offered to disabled veterans as well.
Copyright © Get Fast Lending. All Rights Reserved.
