Down Payment Assistance programs help first-time homebuyers Down Payment Assistance programs, or DPAs, help first-time homebuyers cover some of the costs associated with a down payment and upfront closing costs. When purchasing a home, you typically need to put money down equal to a percentage of the home’s final sale price. This is called the …
Spring 2023 best home mortgages for saving money
The best mortgages for saving money this Spring, 2023! The reasons for purchasing a new home are personal for every homebuyer. Many potential homebuyers have been waiting to make a move recently due to rising interest rates and high home prices, but life goes on. Homeownership still makes sense in many cases, even with increased …
The 2/1 Buydown – everything you need to know
What is a 2/1 Buydown and how does it work? A 2/1 Buydown is a financing technique that allows a borrower to have reduced monthly mortgage payments for the first two years of the loan term. With this option, the interest rate would be 2% lower for the first year and 1% for the second …
How do I find the best mortgage lenders near me?
What to look for when searching for the best mortgage lenders near me 1. Selection of loan programs Look for mortgage lenders that have a wide selection of loan programs. Some larger banks can only originate their company’s products, but Independent Mortgage Bankers like Mortgage Equity Partners can choose from a wide selection of loan …
FHA announces cuts to Mortgage Insurance Premiums
The Federal Housing Administration announced today that it would reduce the mortgage insurance premiums it charges homebuyers for its mortgage insurance. This is great for people buying their first home who may now be eligible for relief from lower mortgage insurance premiums required on FHA-insured loans. This reduction is expected to save homebuyers, on average, …
What you need to know about Non-QM loans
The best mortgage companies offer a wide selection of mortgage loan programs. For example, Mortgage Equity Partners provides a complete portfolio of mortgage options for their experienced loan officers to help first-time homebuyers, real estate investors, and others find the best mortgage program to fit their needs. While conventional fixed-rate loan programs and government loans …
