Rehustler

Ah, home buying. It’s invigorating! Complex. Expensive, too. This is why the vast majority of homebuyers rely on mortgages to obtain their dream homes.

Conventional loans are the most popular, but government-backed loans are often easier to qualify for and may have lower interest rates and more lenient terms.

The powers that be offer a variety of mortgages and mortgage insurance programs that can keep your down payment and interest rates low. But raking through government websites can be exhausting and far less fun than comparing paint swatches.

So which government home loan might be right for your purposes? Here are the details.

First of all, it’s important to understand that there are many types of mortgage loans.

The Federal Housing Administration offers mortgage insurance on single-family and multifamily properties, as well as residential care facilities like hospitals, and has been doing so since 1934.

The USDA is another government entity that helps make homeownership more achievable for low-income Americans — specifically those who reside in, or are willing to reside in, rural areas. Two of its most popular programs are the Single Family Housing Guaranteed Loan Program and Single Family Housing Direct Home Loans.

The U.S. Department of Veterans Affairs insures conventional loans offered to service members, veterans, and eligible surviving spouses.

Native American Direct Loans are offered directly by the VA to eligible Native American veterans and veterans married to Native Americans.

This article originally appeared on SoFi.com and was syndicated by MediaFeed.org.

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We are going to discuss eight things to do before putting your home on the market.

1. Research and plan
2. Find an agent
3. Fix the eyesores
4. Get rid of pests
5. Declutter and depersonalize
6. Stage the space
7. Hire a photographer
8. Make living arrangements

ARTICLE BY JAMIE RICHARDSON

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Here's a roundup of the 46th President's to-do list:

• Help more Americans achieve homeownership
• Address racial discrimination in housing
• Get assistance to struggling renters

More Details: https://www.housingwire.com/articles/what-a-biden-victory-would-mean-for-the-mortgage-industry/

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In 2008 during the great recession, people had to leave their rented house because of high prices, and the effect of the recession still affects the decision of Millennials till now. Millennials have a very huge amount of student debt than the previous generation and a competitive labour market, Millennials met a limited opportunity in job prospects and income which also has a great effect on their financial decision which includes acquiring a house.

A survey conduct by rent.com using 1000 renters within the age range of 18 and 34 and they found that 80 percent do not plan to leave the rented apartment. But why?

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You've made it to the last episode of our First Time Homebuyer's Timeline series.

There are only a few steps left to navigate before you become an official homeowner:

• Finish Negotiations
• Conduct A Home Inspection
• Finalize The Purchase Agreement
• Meet With Your Lender
• Book An Appraisal
• Get Final Loan Approval

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I don't think the real estate market is in trouble or would get crashed as a result of the pandemic. Let's take a look at the suburbs and the rural areas, although in the middle of the pandemic big cities are having trouble, but the real estate industry in these suburbs are booming. Although the northeast is struggling, because if the cities like New York and Boston, but the country is doing well. Technology will continue to make the real estate industry easier to navigate.

The pandemic is a perfect time for people in the real estate industry to be excited because people are still buying, renting and selling as they move to New parts of the country where they will be comfortable, so we can just learn some consumer behavior with it.

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How long does it take to buy a house? Once you are in good financial standing and are ready to move forward, the actual home-buying process on the timeline can take up to one year. Make sure your credit score, down payment, and budget are in place before moving forward. If you have been planning for several years with a timeline for buying a house, you’ll be ahead of the game.

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Get Prequalified. Start saving for down payments. Create a budget.

Habit is not the easiest to change, maintaining a good spending habit is difficult but take your time and start to work on it one step at a time.

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This episode marks the beginning of our home buying timeline. 

So you are five years away from buying a house, What should you do?

Tune-in to this episode to learn more.

Credit Karma: https://www.creditkarma.com/

is one of many tools available to track your credit score as you make improvements.

Next Episode: Three Years Before Buying A Home 

Release Date: November 2, 2020:  8 am EST.

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The general final steps of the home buying process are typically not longer than a few months.

But there is much prep work to be completed first. 

Five years is a great time to start making a budget.

If you want a faster timeline, start preparing about one year out.

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