Learn how to move from window-shopping to holding the keys
As a first-time homebuyer, the process of buying a home can be thrilling — but also confusing and difficult at points. Luckily, specific mortgage products, such as the FHA loan, are designed with first-time homebuyers in mind.
Down Payment Assistance (DPA) programs are a great tool for homebuyers who need a little extra support covering the upfront cash needed when purchasing a home. Learn about the different types of Down Payment Assistance programs available to Paddio homebuyers.
Mortgage insurance, also known as MIP or Mortgage Insurance Premium, is an important part of the FHA loan process. In this article, we'll discuss what FHA loan MIP is and how it impacts your monthly mortgage payment.
Federal Housing Administration (FHA) loans have been helping people purchase homes since 1934. These loans are designed to help first-time homebuyers and those with less-than-ideal finances purchase their primary residence. In addition to having relaxed eligibility requirements, FHA loans also offer competitive rates and low minimum down payments.
FHA loans are a great option for both first-time and repeat homebuyers, but they do come with some restraints. FHA loan limits are important to be aware of, as they can limit your purchase power.
If you're like most Americans, your home will likely be the biggest single purchase you'll make. Saving for a down payment can take anywhere from a few months to several years, with most homeowners taking 30 years to pay back their full mortgage loan.
If you’re thinking about buying a home, you’ll quickly find that there are several ways for you to finance your purchase. While weighing your options, you’ll need to consider whether you’ll take out a government-backed loan - like those offered by the Federal Housing Administration (FHA) and Veteran’s Affairs (VA) - or if you’ll stick with a conventional loan.