06 Mar 2018
By RESCO Realty

How To Successfully Use Your Down Payment to Achieve Your Home Buying Goals

Mortgage, ,
When you are considering purchasing a home , understanding the lending guidelines regarding a down payment is important.  Here are a few key tips to consider: Gifting of a Down Payment There are some programs that will allow you to use a gift for your home down payment. However, before you assume this, make sure you talk to your loan officer. Generally speaking, the lender will require the person making the gift to provide a letter stating the money was a gift and does not require repayment. Windfalls as a Down Payment When people hit the lottery or come into…
Read More
28 Feb 2018
By RESCO Realty

3 Tips To Consider When Buying A Home With An FHA Mortgage

Mortgage,
FHA loans are becoming increasingly popular these days as potential homeowners may not able to qualify as easily for conventional mortgages. The FHA insures some higher-risk loans, in turn allowing borrowers with low down payments and less than perfect credit to purchase homes and bolster the housing market. However, while getting through the loan process with an FHA mortgage loan is not necessarily more difficult than with a conventional or conforming loan, there are some issues that you will want to be aware of. Property Condition You can't buy just any property with a FHA loan, or any other loan…
Read More
27 Feb 2018
By RESCO Realty

3 Great Homebuying Tools Millenials Have Available to Them Right Now

Mortgage, ,
The economy seems to be heating up rapidly, but home loan interest rates are still at historically low levels. Real estate values have climbed a bit across the country, but low interest rates and affordable prices makes for an excellent opportunity for new homeowners to get into their first home before it rates and prices rise higher. According to the recent studies, there were 4 consecutive quarters of homeownership growth where new homeowners outpaced new renters.  The solid economic fundamentals are likely responsible for creating this excellent home buying environment. Over the past year, Millennials seem to be on board…
Read More