Real estate insights and home buying tips for Hampton Roads, Virginia
While it's often said that you need a 20 percent down payment to buy your first home, there are various programs designed to provide down payment assistance, meaning you could buy a home sooner than you might think. Saving for a house requires commit...
A favorable credit score for buying a home typically falls within the high 600s to 700s. Scores in this range are considered "good," while anything higher is seen as "excellent," helping borrowers qualify for the best mortgage rates. Some loan types...
Homeowners refinance their mortgages for a variety of reasons, such as securing a lower interest rate, shortening the loan term, or tapping into their home equity for cash. In fact, a survey found that 59% of homeowners with a mortgage who haven’t mo...
A conventional loan, also known as a conventional mortgage, is a loan offered by private lenders such as banks, credit unions, or mortgage companies. These loans are not backed by the government. Many conventional loans are purchased by Fannie Mae an...
An FHA loan is a mortgage insured by the Federal Housing Administration (FHA). It comes with both advantages and disadvantages, which can help you decide if this loan type is right for you. FHA Loans: A Comprehensive Guide to Federal Housing Administ...
There are various types of mortgages, and it’s crucial to take the time to find the one that fits your financial situation best. A mortgage lender can guide you through important decisions, such as understanding how interest rates impact your loan, d...
There are many reasons you might want to improve your credit score. If you’re preparing to buy a home, a higher score can help you qualify for better mortgage rates. If you’re working your way back from financial challenges, boosting your credit is e...
When you check with a lender, you’ll see advertised mortgage rates. But will you qualify for those rates? It all comes down to risk—the higher the risk for the lender, the higher the interest rate you’ll pay. Lenders base your mortgage interest rate...
When you're considering buying a home, it's easy to focus solely on the price to determine whether it fits your budget. However, mortgage rates play an equally important role in affordability, and they may have changed since the last time you did the...
You’ve been pre-approved and know what you can afford, so now it’s time to take your home search to the next level. But the process can stall if you don’t know exactly what you’re looking for—or more importantly, what your non-negotiables are. It’s e...
How is buying new construction different from buying an existing home? When purchasing a newly built home, you'll likely get modern designs, up-to-date construction standards, and brand-new appliances. Since many new homes are sold before they're ful...
The best time to get a clear sense of the costs involved in homeownership is before you start looking. The “hidden costs” of owning a home can add up to over $14,000 annually for the average homeowner in the U.S., and even more in expensive cities li...