What is the benefit of down payment assistance? DPA is one of the best tools homeowners have in today’s market to make homeownership more affordable. These programs provide a possible solution to help homebuyers who need financial support. With a shortage of affordable housing across the country, these programs are more important than ever to …
RIHousing $20k Extra Assistance Loan
RIHousing Extra Assistance Loan: up to $20,000 Buying a home in Rhode Island just got easier! RIHousing’s Extra Assistance Loan (EAL) is now available, offering significant financial support to Rhode Island homebuyers. The EAL program guidelines make homeownership in Rhode Island more affordable, opening a world of opportunity for first-time homebuyers. The Extra Assistance Loan …
What is a home appraisal?
What is a home appraisal? A home appraisal is an objective opinion of the home’s value performed by a licensed professional. Since the appraisal is related to the home value and loan amount, it can impact your loan’s down payment and interest rate. An appraisal that comes in too low can cause the transaction to …
How can I get a fast home loan or mortgage?
How can I get a fast home loan or mortgage? To increase your likelihood of getting a fast home loan or mortgage approval, you should prepare to show yourself as creditworthy and financially stable in advance. Getting a mortgage is a major decision, and in today’s market, you may need to be ready to make …
What is mortgage insurance?
What is mortgage insurance? Mortgage insurance, or MI, gives eligible homebuyers the flexibility of making a smaller down payment by lowering the risk to the lender originating the loan. Without mortgage insurance protection, lenders normally require a borrower to make a down payment of at least 20% of the home’s sales price. Many first-time homebuyers …
Mortgage Equity Partners: A local lender supporting the local community
Mortgage Equity Partners: A local lender supporting the local community Mortgage Equity Partners is an independent mortgage banker headquartered in Massachusetts that plays a significant role in community development and building strong communities by financing local home purchases. We believe that homeownership is the cornerstone of strong communities. In our philanthropic work, we seek to …
