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Category: Buying a Home

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What is the Affect of Student Loan Debt On Homeownership?

With student debt making headlines on a regular basis, and the rates of homeownership being lower, is there a connection? Maybe. In the first issue of Consumer & Community Context, a publication from the Federal Reserve, an article by Alvaro Mezza, Daniel Ringo, and Kamila Sommer, Federal Reserve Board Division of Research & Statistics  entitled, “Can …

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Before You Buy, Do A Financial Self Exam

Thinking about buying? If you are serious about owning your very own piece of the American Dream, it makes sense to take inventory of your current finances. By taking a closer look, you will have a better idea of whether you are ready to grab your dream of homeownership by the horns or whether you …

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This New Year, Reach Your Dream of Homeownership

Every year begins with renewed hopes and bright aspirations embodied by the shared cultural vow we all seem to take: the New Year’s Resolution. If your Resolution involves any aspect of ‘home’ or financial strategies, purchasing your first home and homeownership may be on your mind. You Are Not Alone Among renters under the age …

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FHFA Announces Conforming Loan Limit Increase In 2019

The Federal Housing Finance Agency has announced that the maximum conforming loan limits for mortgages has increased. In most of the country, the confirming loan limits will increase nearly 6.5%, from $453,100 to $484,350 for 2019. For most high-cost areas, where 115% of the local median home value exceeds the loan limit, the loan limit …

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Dose of confidence: nervous about buying? Don't be.

Nervous About Buying? Here’s A Dose of Confidence

If you are interested in buying a house, but do not know what you might need, or whether you can qualify, you’re not alone. Many would-be buyers are intimidated by the thought of what it takes to buy a home. Some wonder whether they can afford to buy, if they have enough saved for a …

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Can I Still Get A VA Loan With Bad Credit?

Unfortunately, it depends on the situation and reasons, so there is no simple answer for bad credit. A few potential reasons could be that you have experienced a divorce which led to a bankruptcy, mismanaged your finances, experienced job loss, or any other financial hazards. Your credit is calculated from many moving parts. The good …

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2018 Homeownership Profiles: Millennial Buyers

In 2017, Australian millionaire Tim Gurner famously attempted to blame millennial homebuyer obstacles on their inability to avoid frivolous spending on $19 avocado toast, in comments that were widely mocked throughout the internet. Many commentators are still quick to point the finger at extravagant spending to explain why homeownership among younger adults has declined compared …

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Avoid roadblocks before closing on your new home.

How To Avoid Roadblocks Before Closing On Your New Home

You have submitted a mortgage application, found your dream home, and put in an offer. Now what? Applying for a home loan is an ongoing process, from application to closing, that does not have to be stressful. There are several things you can do to make the process more efficient, and things not to do …

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