The COVID-19 crisis has been battering the U.S. economy for almost a month now, and many Americans are feeling the pain, homeowners included. In fact, many are reaching out to their lenders and asking to put their mortgages into forbearance, thereby pausing payments for a period of time as they attempt to stretch their limited
Homebuyer demand may have waned in recent weeks as the COVID-19 outbreak worsened, but that doesn’t mean it’s gone entirely. In fact, according to Fannie Mae’s Home Purchase Sentiment Index, over half of Americans still say it’s a good time to buy a home. Does that mean the road to a home purchase will be
Coming up with the cash for a down payment can be a big hurdle for anyone hoping to become a homeowner. Most financial experts recommend aiming for a 20% down payment to avoid paying extra each month for private mortgage insurance. If you feel like it may be impossible to save up that much, you’re
Applying for a mortgage is arguably everyone’s least-favorite and least-understood part of the homebuying process. Nobody enjoys assembling the mountain of paperwork required for a loan application. But 90% of us need a mortgage loan to buy a house. So it behooves us to learn what prospective lenders really want to see in all the
You know you need to pay homeowner’s insurance when you purchase a home. And for good reason: that policy protects you should anything unexpected happen to your property. As expensive as homes can be to keep, maintain, and repair, the right home insurance is a great investment in your long-term financial security. If something goes
Maybe you’ve owned a home for years, or you’ve just left your parent’s home and are looking to get onto the property ladder. Either way, getting the deposit ready for purchasing your dream home is no easy task. For most people, buying a home is the largest purchase they will ever make in their lives,