Posts with tag 'First-time Buyers'
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15
FHA Loans - What First-time Home Buyers Need to Know
Securing a mortgage is one of the most important steps in buying a house, and there are programs available to help all home buyers find a loan that fits their needs. FHA loans, backed by the Federal Housing Administration, are often an appealing option for first-time home buyers, shoppers in the process of rebuilding credit, and for others who may have difficulty securing a traditional mortgage.
These loans were designed specifically to help more people own homes, while also providing protection for lenders. Our REALTORS® are happy to explain the basics of FHA loans, and why they're an attractive option for home buyers.
18
Buying Your First Home with a New Job
If you're thinking about buying your first house, you've probably heard a lot about how tough it can be to get a mortgage.
The truth is, a mortgage is within reach for most first-time buyers who have steady employment, no bankruptcies, and a reasonable debt load.
But ... even under the best circumstances, the process involves a lot of documentation. Proof of income is one of the most important parts of that equation. It's common to be asked for two years of pay stubs as part of your mortgage application.
If you just changed jobs or have an unconventional work history, it can be harder to dredge that information up. Luckily, it's usually not impossible – it just takes a few extra steps.