Tag: VA Loans
-
Financing a Home Purchase With a Disability: Where to Look
There’s a lot of talk today about affordable homes. But we also need more accessible affordable homes. More than one in four U.S. residents live with a disability. And the U.S. population is getting older. If you’re an individual with a disability, there are agencies and alliances that have your back. And yes, you can buy a…
-
Real Estate Update: Housing Agencies, States Suffer “Staggering” Blows in Shutdown
The U.S. federal government has been shut down for three weeks now. The impact on everyday life for many has been serious. What might not be obvious is the impact on federal housing agencies and state-based real estate industries. Sellers and buyers are feeling the effects as well. In some states, the impacts are outsized…
-
Back in the Game: How to Get Another Deed After a Bankruptcy, Foreclosure, or Short Sale
Finding a mortgage again after a financial setback can seem like an impossible feat. But it’s doable. Here, we consider foreclosures, short sales, and bankruptcies. We look at how they can be overcome for the purpose of acquiring a deed to a home.
-
Looking for a Path to Homeownership? Look Again at Down Payment Assistance.
The typical person can’t afford the typical home. As property values keep rising, down payments aren’t getting any easier to make. If you know the feeling, have you looked up down payment assistance? It can be a grant, with no repayment requirement. Or it could be a loan — possibly a forgivable loan. Even if…
-
The Rise and Rise of Down Payments
A down payment is the portion of a home’s purchase price the mortgage borrower pays upfront. You knew that. But did you know the median down payment for U.S. homebuyers is now more than $55K+? That’s remarkable. It was less than $45K just last year. Buyers often try to put 20% of the purchase price down.…
-
Buying a Home on Disability: What to Know
For all hopeful buyers, whether or not they have disabilities, getting a mortgage comes down to a rather simple formula. It’s about how much a loan applicant spends, versus the applicant’s stable income. And yes, stable income includes disability benefits such as Social Security Disability Insurance (SSDI) and Supplemental Security Insurance (SSI). Disability income might…
-
Wraparound Mortgages: When They’re Used and How They Can Help
Ever heard the term wraparound mortgage? Because this is actually a set of two mortgages for the same home, it’s more complicated than a regular mortgage. It can present special risks, and it’s less commonly seen in the world of real estate. That said, some have used it to be able to get a home…
