What is a manufactured home? A manufactured home is a home built in a factory on a permanent chassis and towed to a site and attached to a foundation. Previously, manufactured homes were called “mobile homes” or trailers. But in 1976 government regulations mandated minimum standards and manufactured homes today are well-designed and constructed! In […]
NH Housing is offering a Home Buyer Tax Credit of up to $2000/year for first time buyers (or second time buyers buying in targeted communities). You are considered a first time buyer if you haven’t owned a home in the past 3 years. In order to participate, you must apply for a Mortgage Credit Certificate […]
NH Housing provides cash assistance up to a maximum of 4% of the base loan amount to help borrowers defray the cost of down payment, closing costs, and prepaid escrow expenses associated with purchasing a home. The cash assistance can be used in combination with an FHA, RD or VA loan as well as in […]
Need Cash to buy a home? When you use one of NH Housing’s programs you can also get cash assistance which can be used toward either down payment or closing costs. The Cash Assistance comes in the form of an interest-free second mortgage which is forgiven in full after four years unless during the […]
Why do buyers need a REALTOR? REALTORs are professional real estate agents who adhere to the highest level of conduct and ethics. Many have years of experience, teams to support you and a deep understanding of every facet of the homebuying process. Hiring the right REALTOR makes all the difference! 1.REALTORs know the city and everything […]
Your credit score will influence your mortgage options as well as the interest rate you will get. If you’re thinking of buying a home in the future, don’t take chances! These steps can help you improve your credit score now so you’ll have more mortgage options later. Don’t over use your credit cards! Ideally credit card balances should be paid in full […]
Fannie Mae instituted new rules surrounding student loans earlier this year which make a significant difference in what people who have income based repayment plans and graduated payment plans can qualify for. The old guideline was, if the student loan was an income based or graduated payment, the lender would consider the payment to be […]
Many first time buyers (and move up buyers too) negotiate for the seller to pay some or all of their closing costs. This is a great strategy to reduce the total amount of cash needed to purchase a home. All loan programs allow the seller to pay some or all of a buyer’s closing costs (and […]
Many people wonder what the best program is for a first time buyer? The answer is dependent on the buyer’s credit score and credit profile, the buyer’s income and the amount of cash the buyer has to spend on down payment and closing costs. The combination of these items gives a loan officer clues to […]
