by First Home Mortgage | Sep 27, 2020 | New Home Financing
When you are buying a home, a property appraisal is one of the last hurdles on the road toward a successful closing. Understanding the appraisal process and how it affects your home sale or purchase will help you through the waiting period as you prepare for and face... 
by First Home Mortgage | Aug 12, 2020 | New Home Financing
As you find a Lender and move closer to closing, one question you will need to answer is whether or not you plan to pay points on your mortgage. Before making this decision, you need to understand what points are and how they affect your mortgage and closing costs.... 
by First Home Mortgage | Aug 5, 2020 | New Home Financing
An adjustable-rate mortgage, or ARM as they are better known, is a mortgage type that allows the interest rate on the home loan to change. An ARM 5/1 is a type of ARM that locks in an interest rate for the first five years of the loan. After that locked-in period, the... 
by First Home Mortgage | Jul 5, 2020 | New Home Financing
Conventional wisdom says that you need to save 20 percent of your home’s value for the down payment when you are buying a home, but this conventional wisdom is no longer an absolute. While a 20 percent down payment would be nice, it is not a necessity, and, for... 
by First Home Mortgage | Jan 2, 2020 | Home Purchases, New Home Financing
According to the National Association of Home Builders, Millennials, those born in 1980 and later, are a large majority of the home buying market. In fact, 68 percent of Millennials are currently hoping to buy a single-family home. With Millennials currently numbering... 
by First Home Mortgage | Aug 14, 2019 | New Home Financing
As you enter the home buying marketplace, the first question you should ask is how much home can you afford? The answer is not always as straightforward as you might expect. In fact, it’s all too common for buyers to find they qualify for a much larger mortgage than...
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