Buying a home is one of the most significant investments you’ll make in your life, and obtaining a mortgage is an essential part of that process. But navigating the mortgage process in the USA can be overwhelming, especially for first-time homebuyers. This guide will provide an overview of the mortgage process,
A HECM loan is a “home equity conversion mortgage.” This is a government-insured mortgage that is only available for homeowners who are age 62 or older. HECM loans are insured by the Federal Housing Administration (FHA). FHA-approved lenders only offer them. HECM loans are reverse mortgages. They allow older homeowners to
With median home prices at over $900,000 in Los Angeles County, jumbo mortgages can be required for many buyers to finance a home purchase. What are jumbo mortgages? A jumbo mortgage is any mortgage which is greater than the annual loan limits published by the Federal Housing Finance Agency (FHFA) each
Each year, various finance industries, real estate professional associations, and government-backed organizations like Freddie Mac predict mortgage interest rate trends. These predictions sometimes differ, and there’s no guarantee that they will be accurate. However, February is the time of the year when these mortgage rate predictions tend to solidify, and different
Buying a home is a significant acquisition that can be more challenging for self-employed individuals and business owners to secure a home loan. Fortunately, several loan products are available to help them navigate the mortgage process and achieve their dream of home ownership. Types of Home Loans for Self-Employed Individuals and
Does Los Angeles have a first-time homebuyer program? Yes, and there are two of them. The City of Los Angeles Housing and Community Investment Department (HCIDLA) offers a program to help first-time home buyers, and so does the County of Los Angeles through the Los Angeles County Development Authority (LACDA). One
