Blog
5
2019
Building your dream home from the ground up can be an exciting endeavor. But it also brings with it several challenges. In addition to the many construction decisions you will be facing, you’ll likely have multiple options for financing the project and the mortgage that follows. While it’s not unusual to tackle these financial requirements separately,… Continue Reading Simplify the Path to Your New Home with a One-Time Close Loan
7
2019
Veterans Association (VA) loans are among the best financing options available when it comes to homebuying — a well-deserved benefit in recognition of the service and sacrifice made by service members, veterans, and their families. Although VA loans are provided by private lenders, the VA guarantees a portion of each loan, enabling lenders to offer… Continue Reading VA Loan Limit Repeal Expands Opportunities for Veterans
22
2019
With mortgage interest rates at historic lows, a new generation of homebuyers is looking to buy their first homes. While many of these buyers have substantial, reliable income, they may also be facing significant student debt and lack the cash for a traditional down payment. While several mortgage options may fit their needs, a new… Continue Reading Wealth Builder Program Places Emphasis on Equity
23
2019
One of the benefits of buying a home is the potential to see your investment in the property grow over time. An upward trend in the value of the home will certainly help, but to increase the possibility of a return on the investment, you want to begin building equity, and one potential obstacle to… Continue Reading Negative Amortization: What It Is and How To Avoid It
11
2019
Saving for a down payment can be one of the biggest barriers to homeownership. Help with a down payment in the form of a gift from a family member can put you ahead of the curve, but there are a few things you should know to avoid potential pitfalls later. Cash from a relative may… Continue Reading Down Payment Gift? Here’s What You Need to Know
23
2019
For most people, a lot of brainpower goes into buying a home—especially if it’s your first. So it’s tempting to go in search of an easy, clear-cut “rule of thumb” that tells you what you can afford, like a price-to-income guideline. This may have worked in the past (when many assumed you could afford a… Continue Reading How Much to Spend On a First Home
7
2018
Sometimes buying a home seems like the most daunting process in the world, especially if you’re a first-time homebuyer that isn’t sure what to expect. Some may even have you thinking you have to hold off on home ownership until you’ve saved what seems like an almost impossible amount of cash, obtained a perfect credit… Continue Reading Don’t Buy Into Home Buying Myths
5
2018
As one of the most popular types of home mortgages, FHA loans can offer a unique and essential option, especially for first-time home buyers. Backed by the Federal Housing Administration, the loans combine less restrictive financial requirements with generous lending terms to create an attractive alternative. While many borrowers may be aware of the 3.5… Continue Reading Three FHA Loan Advantages You Need to Know
12
2018
A down payment can be one of the biggest obstacles to homeownership. But, it doesn’t have to be. Open Mortgage partners with our clients to identify available mortgage options with minimal or zero down payment requirements. Here are some of the ways we help borrowers achieve the dream of homeownership sooner rather than later. USDA… Continue Reading Step Up to Homeownership with Little Or No Down Payment
2
2018
You know exactly what you want in a house. You’ve scoped out your local market, and a couple of neighboring markets, too. You’ve kept an eye on foreclosures and auctions and done your research. There’s just one problem: nothing you’ve seen meets your expectations; the house you want doesn’t exist yet as-is. So what’s to… Continue Reading Which Mortgage is Right For Remodelers? Consider a 203k Loan!
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