I often hear first-time homebuyers say they don’t think they can afford to buy a home — especially millennials who may have a lot of debt (ex: student loans). If you live in Hampton Roads (Virginia Beach, Norfolk and Chesapeake), you have options to get a mortgage that are easier than you think. You might have Read more about How Much is a Down Payment for a Mortgage?[…]
I read an interesting study that half of Millennial homebuyers plan to ask their parents to help with the down payment. Whether you are 20-something or a bit older, many first-time homebuyers in Virginia Beach, Norfolk, and Chesapeake, might not know the various down payment requirements. Here’s the breakdown: VA Loan (Veterans Administration) — available to military personnel and veterans. Only Read more about The Fine Details on Down Payments[…]
You may know a home loan requires a down payment and that the amount depends on the loan program you choose. You may not know all down payments must be properly sourced. What does that mean? – If the money is a gift, you need a letter from the person stating as such and that you don’t Read more about 4 Rules You Must Understand About Down Payments[…]