June is national homeownership month June is an exciting month for aspiring homeowners and residential real estate investors as it marks National Homeownership Month. This annual observance celebrates the importance of owning a home and recognizes its many benefits. It highlights the value of homeownership in building stronger communities, achieving financial stability, and promoting personal …
Conventional loan vs FHA loan
What is the difference between a conventional loan and an FHA loan? The most popular type of mortgage is the 30-year fixed-rate loan. It gives homebuyers three full decades to pay it off, resulting in smaller payments over a more extended period. A 30-year fixed-rate loan is a conventional loan. It offers flexibility and lower …
Multi-generational housing
What is Multi-generational housing? Multi-generational housing, a unique living arrangement where multiple generations (such as parents, children, and grandparents) share a household, is gaining popularity. It’s not just a solution for families trying to navigate the challenging housing market as first-time homebuyers but also a way to foster strong intergenerational bonds, creating a sense of …
Tips for South Carolina homebuyers
What you need to know when buying a house in South Carolina Potential homebuyers often face the same challenges when purchasing their first home, especially the hurdle of coming up with the down payment and other costs associated with closing a home loan. Even borrowers with good income, credit, and stable employment can struggle to …
Can I get a mortgage without a 2 year job history?
How important is stable employment when applying for a loan? Stable employment is a crucial factor in the mortgage approval process. Lenders value borrowers with consistent job histories since they demonstrate financial reliability. A steady job ensures a reliable income, reducing the risk of borrowers failing to meet their financial obligations. While it’s just one …
What you need to know about VA loans and the NAR settlement update
What the VA said about the NAR settlement The Department of Veterans Affairs announced it would temporarily lift its ban on homebuyers directly paying for realtor representation. It is expected that it will announce a formal policy update within the next several weeks. The VA’s home loan guaranty is the only loan program with this …
