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.
Mortgage
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
Why You Need Title Insurance for Your New Home
NewHomeSource breaks down why you need title insurance for your new home, and how to shop for the best deal.
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
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
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.
Here’s What to Do — And What Not to Do — When Buying a New Home
Getting a home loan means understanding your credit, as well as the financing process and the many things that can ruin an approval.
Here’s What to Do — And What Not to Do — When Buying a New HomeRead More
How to Choose a Lender
When trying to figure out how to choose a lender, be sure to ask for references and to take your time to thoroughly investigate each prospective lender.
Is the Mortgage Interest Deduction in Jeopardy?
Do you benefit from the mortgage interest deduction? There are some possible changes coming along that you should be aware of.
Understanding Different Types of Mortgage Loans
As you save for a down payment, you may find that certain loan types don’t require 20 percent down. New Home Source outlines different home loans and how they can affect your wallet.
Three Ways to Ease Transition into a New House
NewHomeSource has three tips to transition into a new home if you have to sell your old home.
Upcoming Mortgage and Settlement Changes: What You Can Expect
NewHomeSource has everything you need to know about mortgage and settlement changes in your home loan processes.
Upcoming Mortgage and Settlement Changes: What You Can ExpectRead More
The New World of Virtual Mortgages
Virtual mortgages offer homebuyers a faster, more secure option than tradition paper-based mortgage applications.