Author: super_admin

For many people buying a home is the American dream but saving for the down payment might not be. Here are some tips and strategies to make your down payment. 1. First-time home buyer programs. There are a number of first time home buyer programs such as FHA, VA and USDA loans that have lower down payment requirements than conventional loans. 2. Old fashioned monthly savings - this takes longer but make a monthly budget of your spending – see where you can cut back and see how much you can save monthly - then commit to saving towards your down payment each month. 3. Tax Return – with tax season here, if you are getting a refund, try setting it aside towards your down payment. 4. Get side gig…

With recent market volatility we have good news for some new home buyers. Starting in March, those who are receiving FHA financing and paying mortgage insurance will see the monthly fee reduced from 0.85% to 0.55%. This is expected to affect 850,000 borrowers this year and result in an average savings of $800 annually. The savings will vary based on the loan amount, for example a person with a $500,000 FHA loan would save $1,500 annually. If you are in the market for a new home, fill out our quick home qualifier on our website and we can help determine what loan best fits your needs and let you know how much you can pre-qualify for.