Can You Get A Home With No Down Payment?
Let’s set the record straight. No down payment is a thing. But, no money down, that is not a thing. There are costs, outside of…
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We help people buy houses so they can create a home. Here we share more than mortgage finance tips (although we do that too). We aim to help you make your house a home through DIY projects, pet care, hosting tips, yard maintenance, and much more!
A Real Stockton Story: First Time Homebuyer with a Fixer Upper
When this single mother and school teacher walked into her local Stockton Mortgage office, she was frazzled. What started out as a promising endeavor, purchasing her first home, took a turn for the worse when she realized what all was involved in buying a fixer upper. Once Joe Daly, Stockton’s Director of Renovation Lending, came into the picture things went much smoother— within 31 days her home loan was closed, and the renovations commenced on the home where she would raise her daughter.
How much are you spending to be in debt?
The realization that borrowing money costs more than just spending it out right may be one of the greatest disappointments of becoming an adult. My sweet son suggested, “just use your credit card” in response to my statement, “I don’t have the money for that”. Oh, to be innocent again. However, as it stands, it does cost money to be in debt. Did you know that you may be able to spend less on your debt?
Limited Time: Mortgage Down Payment Assistance in Michigan Counties
For first time home buyers one of the most difficult hurdles is the down payment, that is why when forgivable down payment assistance programs are rolled out we try to let everyone know! In the past, we have witnessed firsthand the benefit that many families experienced from programs like these in other states. In fact, one year we had about 20 families who had been working towards owning a home by trying to save up funds but the “finish line” seemed far off. However, with the assistance of the forgivable down payment assistance program, they were reenergized to reach that finish line!
Savvy Money Saving Tips for a Down Payment
In today’s economy, it’s harder than ever for renters to save up the money that they would need for a down payment on a new home. Luckily, there is a whole bundle of ways to become more money savvy! Here are my top 5 simple ways to save money for the down payment on your first home!
Have you heard about the 203k Loan for Renovation Financing?
Who doesn’t love the television show, Fixer Upper? Chip, Joanna and the Gaines children have found their way into the hearts of many in their handful of seasons on HGTV. Their warm personalities certainly don’t hinder their lovability but we watch because their ability to “take the worst house, in the best neighborhood and turn it into a client’s dream home” is spectacular! We love to see a house that easily could have been looked over become a beauty; not to mention, how much the value of the home increases. But how do they finance these projects? If you wanted to improve your home through renovations, how would you finance it? There are a few options; credit card, savings, HELOC (home equity line of credit) or a renovation mortgage.
Cutting the House in Two
Cutting a house in half sounds like a ludicrous idea but if you are going through the process of divorce you just may feel like this would be the easiest way to move forward. Divorce has enough stress surrounding it that even the thought of having to deal with the nuances of adjusting the mortgage arrangement could force one to put it off several months or even years. By doing this, you may end up having more heart ache and problems in the long run.
Special Financing for Rural Living Available
Hobby Farm. That was a new phrase to me just about a year ago. When first hearing it, one may envision a posh warehouse filled with paint or clay covered people trying to find a hobby that speaks to them. As much as I love that idea, this is not the hobby farm I’m going to share with you today. The hobby farm I’d like to introduce you to is one that allows you and your family the opportunity to cook a meal from the items you grew and harvested. One that gives you quieter nights and mornings filled with chirping birds. One that gives you room to roam, to grow, and to experience nature more fully.
The Impact of a Down Payment
Over the years we have found that the down payment requirement has left many people with questions; like how does a down payment impact your mortgage? Let’s start with understanding what a down payment on a mortgage is; a down payment is the amount of money that you will pay out of pocket towards the purchase price of the home you are buying. Not only will it lower the amount needed for your mortgage but it also shows lenders, like us, that you are able to save money and are serious about the investment in your home.
Mortgage Monsters Aren’t Real
Getting a mortgage can be intimidating and trying to wrap your head around all the numbers, financial terms, and paperwork can be enough to make your brain feel mushy—heck, the word mortgage is hard to spell. It should be spelled, “morgedge”, who is with me?! Don’t worry, Mr. Merriam Webster, I’ll save that fight to fight another day. My goal is to put any fears associated with getting a mortgage, to rest.