Do you think owning multi-family dwellings—duplexes, triplexes, or fourplexes—is only for the 1%? Think again, because now all you need is 5%!
As of November 18, 2023, Fannie Mae has lowered its required down payment on owner-occupied multi-family properties from between 15% and 25% to just 5%. That’s right: Five. Percent. Down.
Just as we prioritize our physical well-being with annual checkups with our doctors, it’s important to take a moment each year to assess our financial health. One of the essential financial checkups is the annual mortgage review.
It’s a tough market out there right now for people who are looking to buy a house. Whether you’re a first-time homebuyer or looking to move, the current mortgage rates and high home prices can be limiting. Many homebuyers are second-guessing whether now is the right time for them to buy.
If you or a loved one have served your country and are now looking to buy a home, you may wonder if you qualify for a VA loan.
VA mortgage loans offer tons of benefits, like no down payment requirements, no private mortgage insurance (PMI) monthly payment, and flexible underwriting guidelines.
Getting a jumbo VA loan, which is a type of VA-backed home loan, offers several great advantages for eligible veterans and their surviving spouses. While there isn’t technically a jumbo VA loan (all VA loans are treated similarly, regardless of loan amount), it’s common to think of the larger loans to be “jumbo” for the sake of discussion.
Buying a home is full of questions. Should we? Shouldn’t we? Can I afford to? Can I afford not to? All these questions are deeply personal, which means their answers will depend on your financial situation and long-term goals.
One of the obstacles that keeps first-time homebuyers out of the housing market is the misconception that they need to have a 20% down payment.
When it comes to investments, many people say it’s all about timing. While that’s good advice in theory, there’s simply no way to time the market if you’re purchasing a sizable investment like buying a house. In a perfect world, interest rates and prices would both be low—and this does happen, but not very frequently.
High interest credit card debt can suck the life out of anyone. Paying off your credit card debt at today’s high interest rates can also take major sacrifice—but it doesn’t have to. Not if you’re a homeowner, anyway.
Most people understand that owning real estate can be a great investment. What they may not realize is that this investment can begin to pay off while you still own the home!
Tuition, books, transportation, room and board…the cost of college adds up fast. At first glance, then, it may seem crazy to consider buying a home for a college student, but is it?
A debt consolidation refinance may let you kill two birds with one stone. It can allow you to achieve a lower interest rate on your debt while streamlining all your monthly payments into one. You’ll essentially consolidate debt obligations and roll them into your mortgage, but at a much lower interest rate. The result is a single payment at a lower interest rate: your monthly mortgage payment.
Investing in real estate can be an amazing experience—and a great way to earn passive income while someone else (or a bunch of other people) pays your monthly mortgage. Home-share platforms like Airbnb, Vrbo, and other vacation rental websites have made it even easier for those who want to market their investment properties as short-term rental property.
Buying an investment property can be one of the keys to financial freedom and generational wealth. Whether you want to enjoy rental income, tax benefits, or both, owning an investment property can help you achieve your long-term goals in less time.
You own your primary residence, but you’re thinking about buying a second home. Congrats! Being in a financial position to make that kind of real estate investment is a major accomplishment, and you should be proud of that.
Not everyone comes from money, but there are decisions you can make today to set up future generations for long-term success. And by long-term success, we mean a true financial legacy. One of the easiest ways for the average person to do this is through real estate.
The benefits of homeownership involve more than simply putting a roof over your head. The goal of buying a house will be less meaningful until you understand the true value behind this investment. It isn’t simply to achieve the “American dream”!
We know buying a home can be intimidating. There are so many variables that can go into this big decision. Then there’s what you think you know—and what others think they know. A lot of this information can come from secondhand sources or even “expert” opinions you see on TV or on the internet. These opinions aren’t always wrong, but what they don’t take into account is your specific situation—or the fact that you have APM on your side.
