Today, we want to talk about creatively combining gift funds. Hopefully, you read our post earlier this year about gift funds. If not, we’ve included a link at the end of this post so you can catch up. When a

Many of our retired clients have expressed concerns about having difficulty qualifying for a mortgage because they have stopped working. Fortunately, that’s simply not true. Whether you’re buying a new home, downsizing, relocating, or purchasing a retirement home, your age

Seller Paid Closing Costs fall under the category of Interested Party Contributions, and there are specific limits depending on the specifics of the loan.   IPCs are costs that are usually the responsibility of the property buyer, but are paid directly

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,

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

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? 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

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

Interest rates are almost always offered in increments of 1/8th or .125, with 1 minor exception. (1)  When you see advertised rates – or even a rate listed on a bank or lending website – you will often see odd

(This information relates to fixed rate loans only.  The APR for Adjustable Rate Loans is not very useful because no one knows what the rate will be for all of the years after annual adjustments begin) You should look at