Welcome to the Golden State. If you’re a homebuyer ready to call California home, make sure you’re saving up to cover the closing costs.
Financing
Your Guide to Closing Costs in Alabama
Ready to make Alabama your sweet home? Paying for closing costs is one of the final hurdles in the homeownership process after securing a mortgage; here’s what to expect.
6 Things to Know About Homestead Exemptions
Homestead exemptions can protect homeowners from the forced sale of their home to pay off creditors during financial hardship, keep seniors in their homes, and offset your property tax bill. Let’s look at six things you need to know about this exemption.
10 Key Documents Homeowners Need During the Home-Selling Process
A big part of the home-buying and homeownership process is paperwork. To help you get familiar with what’s in store, here’s a look at the 10 key documents you’ll come across in the home-selling process that will help you get acquainted with every detail of your home.
10 Key Documents Homeowners Need During the Home-Selling ProcessRead More
How Much Mortgage Can I Afford? A Home Buyer’s Guide to Calculating a Mortgage
Before you start shopping for homes, it’s best to know how much home you can afford. NewHomeSource outlines what you need to know to calculate a mortgage and to help determine how much loan you may qualify for.
How Much Mortgage Can I Afford? A Home Buyer’s Guide to Calculating a MortgageRead More
Private Mortgage Insurance: 6 Things Every Home Buyer Should Know
Private mortgage insurance could help you get qualify for a conventional mortgage and get you into your dream house — but is it worth it? Here are 6 things every home buyer should know about PMI.
Private Mortgage Insurance: 6 Things Every Home Buyer Should KnowRead More
Is an Adjustable-Rate Mortgage a Smart Move for Your Home Purchase?
An adjustable-rate mortgage may be the smart way to go when buying a home, but it’s not without risk. NewHomeSource looks at the pros and cons and whether an ARM could be right for you.
Is an Adjustable-Rate Mortgage a Smart Move for Your Home Purchase?Read More
8 Creative Ways Gen Zers Can Start Saving for Their Home Purchase Today
Here are eight creative ways that Millennials and Gen-Zers can start saving up for their first home that won’t destroy your lifestyle.
8 Creative Ways Gen Zers Can Start Saving for Their Home Purchase TodayRead More
What is Single-Close Financing and Why You Should Consider It When Building New
A construction-to-permanent financing automatically switches to permanent financing once your home is completed. It’s important to choose the right builder before you take on such a loan.
What is Single-Close Financing and Why You Should Consider It When Building NewRead More
Down Payment Assistance Programs: How to Find Help to Buy a Home
A down payment assistance program or homeownership program can help first-time buyers purchase a home sooner than they expected. There are a variety of programs out there to help.
Down Payment Assistance Programs: How to Find Help to Buy a HomeRead More
Buyer’s Guide To Builder Closing Cost Incentives
Closing on your home is the final step to your journey to homeownership. NewHomeSource breaks down everything you need to know about closing costs, and builder closing incentives.
How Much Mortgage Can I Afford?
Find out how you determine how much mortgage you can afford for your first home.
First-Time Homebuyer Qualifications
You don’t always have to be a first-time homebuyer to qualify for down payment assistance programs.
How Much do You Need for a Down Payment on a House?
How much of a down payment do you really need to buy a house? While the answer is situational, the typical range for a new home down payment is 3.5 percent to 20 percent.
How Much do You Need for a Down Payment on a House?Read More
New Home Construction: Loans and Financing
Financing a new home can seem confusing. NewHomeSource has your guide to financing your home, from how to choose a lender, the types of available loans, to figuring out credit scores.
How to Apply for a Mortgage When you are Self-Employed
If you’re self employed, you can still get a mortgage for your new home! NewHomeSource has tips and tricks so the self employed can secure home loans.
How to Apply for a Mortgage When you are Self-EmployedRead More
Obtaining a Mortgage: How to Plan and What to Expect
Homeownership is a real possibility if you do a little research and prepare your credit for the rigorous mortgage application process.
Obtaining a Mortgage: How to Plan and What to ExpectRead More
Creative Ways to Save for a Down Payment on a Home
There are lots of ways to save for a down payment for a home, particularly if you look outside the box.
Your Credit Report: A Vital Step in Obtaining a Mortgage
A key to successfully navigating the mortgage application process is to check your credit report to ensure it’s accurate. If it isn’t, you can take action to get it corrected.
Your Credit Report: A Vital Step in Obtaining a MortgageRead More
Three Little Numbers: Your Credit Score and Why It Matters
NewHomeSource breaks down what your credit score is, how it’s calculated, and what it means for people hoping to secure a mortgage.
Three Little Numbers: Your Credit Score and Why It MattersRead More
What Should You Put On Your Mortgage?
In the process of buying your new home, have you considered purchasing some items, such as appliances, to save money on your mortgage? It might be time to reconsider that idea.
The Mortgage Process: A Step-by-Step Look and Checklist
Here is a step by step look at the mortgage process, a full guide to securing financing for your new construction home.
The Mortgage Process: A Step-by-Step Look and ChecklistRead More
Home Shopping? Get Preapproved First
Getting pre-approved for a home loan is preferred over a pre-qualified. Why? Because pre-approval puts you one step closer to purchasing the home of your dreams.
How to Repair Your Credit So You Can Get a Mortgage
Building or repairing your credit score means learning to use credit cards responsibly. An improved credit score means better rates on mortgages.
How to Repair Your Credit So You Can Get a MortgageRead More
Should You Pay Off Your Mortgage Early?
Should you pay off your mortgage early? NewHomeSource explores the pros and cons of paying off your home loan early.
How to Start Saving For Your First Home
There are a number of ways that first time homebuyers and Millinnials can save for homeownership.
Prequalified vs. Preapproved: What Is the Difference and Why It Matters
A prequalification is a good start to the home loan process, but being preapproved means you’re almost home — literally. Getting preapproved means greater security and purchasing power for your home search.
Prequalified vs. Preapproved: What Is the Difference and Why It MattersRead More
Don’t Ignore the ‘Quiet Period’
It’s important that you don’t take on any new debt or make other changes to your financial profile during the “quiet period” — the time between your mortgage approval and the date you actually close on your house.
Can Your Family Help Pay for Your Mortgage?
Can’t get a mortgage from traditional lenders? Intra-family financing may be a solution to your homebuying dreams.
Who Really Owns Your Home?
Before you decide how the title for your home will be held, you should explore all of your options and make sure you fully understand each.