If you are a military first time home buyer, it can be difficult to know where to begin. Should you start searching online listings, or call a real estate agent, or start watching HGTV or investigate mortgage options? The good news is: you don’t have to know everything about this entire process, and some of the resources
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“Military First Time Home Buyer | 5 Helpful Tips and 3 Resources to Save You Money”
The minimum VA loan credit score doesn’t exist. That doesn’t mean they don’t matter, but the fact is that the VA loan system doesn’t have any minimum requirements around a borrower’s credit score. You may be getting mixed messages about that, because a lot of search results talk about minimum credit scores when, technically, there aren’t any. Here’s the real scoop.
Read More “VA Loan Credit Score | Are there Credit Score Requirements?”
VA loan benefits can dramatically improve your home search and your ability to afford a new home. If you are a veteran or an active duty service member in the armed forces or uniformed services, you could be eligible for VA loan guarantees. With a VA loan guarantee in hand, you can save thousands or tens of thousands of dollars over the life of your mortgage. The numbers don’t lie: VA loans have helped more than 25 million veterans and eligible service members since it began in 1944. It helped 1.2 million military service members in 2020 alone.
Read More “VA Loan Benefits | The Complete List | Plus Homes for Heroes Savings”
If your first questions about VA loans are “What are the VA loan requirements” and “Am I eligible?”, then you’ve come to the right place. We will also give a quick VA loans 101 to explain what they really are and how to get a VA loan. As with many federal government benefits, determining eligibility is half the battle. Fortunately with VA loans, it’s not too complicated. Better yet, Homes for Heroes can help you find out how to qualify for a VA loan.
Read More “VA Loan Requirements and Eligibility | How to Get a VA Loan”
Private mortgage insurance (PMI) protects a lender from the risk associated with a borrower, if the borrower goes into default or foreclosure. Basically if you need to borrow money from a lender to purchase a home, but cannot afford to pay at least 20 percent down payment on the borrowed amount, the lender will likely require you buy PMI insurance from a PMI company before signing off on the loan. In this post, we look specifically at how to avoid PMI insurance and how to stop paying PMI insurance if you are now.
Read More “How to Avoid PMI Insurance AND How to Stop Paying PMI if You are Now”
The answer to the question “should I buy a house in 2023?” is another question: Can you ignore the forecasts? If you can ignore the industry experts, and the numbers, and go back to the fundamentals of why a person buys a house; 2023 might be a good time to make the jump. If you are waiting for the numbers to support your decision, there’s good news and bad news on whether you should buy a house in 2023.
The tax benefits of owning a home can be a tipping point for you if you are on the edge of deciding to begin hunting for a new home. If you are a first time home buyer, some of these deductions and tax credits will surprise you. If you are a long-time homeowner, you know that a new home mortgage can help you with your tax burden for years. And if you’re a seller, there’s something in the tax laws for you too. Here we cover two main tax benefits of owning a home: tax credits and tax deductions.
Read More “Tax Benefits of Owning a Home | Potential Home Purchase Tax Deductions”
A new home budget can be sobering. You’re in your new house, you went through all the financial anxiety of getting approved for a loan, making offers, making counter-offers and sitting through the final closing. Now that you’ve got your new home, the reality of creating a new monthly household budget is setting in. Don’t panic. You certainly have some new expenses, and if this is your first home, a lot of expenses will be totally new. Don’t let them intimidate you. We can help.
If you are moving into a new house, the last thing you need is a list of home maintenance tips for new homeowners. You’re tired, you’re overwhelmed, you’re excited and you’re tired. Yes, we said that twice. Nevertheless, there’s more to a new house than just moving all your stuff into it. So a few days after you move in, pick up this new home maintenance checklist and look it over. It could save you some money and expensive repairs down the line.
Read More “Home Maintenance Tips for New Homeowners | The Essential Checklist”
The VA Certificate of Eligibility is the one of the first things you will encounter when you start investigating the VA loan process. The good news is, while you do need this important document to complete your application, it is not difficult. It’s just a one page form, it’s online, and you don’t need to get that done before you do anything else.
Read More “VA Certificate of Eligibility (COE) | What it is and How to Get One”
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