In most cases, a borrower of a mortgage loan secured by a one-unit primary residence can use funds received as a personal gift from an acceptable donor. Gift funds may fund all or part of the down payment, closing costs,
All About Gift Funds
To Buy Now or To Wait?
Buy Now or Wait? Many prospective buyers are waiting for the “perfect” time to purchase a home. The reality is that perfectly timing the housing market is nearly impossible. If a home fits your lifestyle, meets your needs, and falls
Buying a Home after you’ve had a Foreclosure, Short Sale, Deed-In-Lieu, or Bankruptcy
If you’ve experienced a major credit event such as a bankruptcy, foreclosure, deed in lieu of foreclosure, preforeclosure sale, short sale, or mortgage charge-off, you may still be able to qualify for a mortgage in the future. However, these events
What is a Bridge Loan?
What Is a Bridge Loan? A bridge loan is a short-term financing solution that allows homeowners to purchase a new home before selling their current one. As the name suggests, it “bridges” the gap between buying a new property and
How much house can I afford?
One of the questions we hear most often from homebuyers is: “How much house can I afford?” Closely related is another common question: “What is my maximum purchase price?” These are important questions, and determining the answer is one of