David Gregory

Oct 29, 2024 | marketwatch.com | Holly Humbert |David Gregory

Most conventional mortgages require a down payment. Historically, 20% of the home’s purchase price has been the recommended amount since anything less than that requires purchasing private mortgage insurance. However, lenders sometimes offer a wider variety of loans with lower down payments to help make homeownership more accessible. It’s even possible to find no-down-payment mortgages, which are home loans that don’t require putting money down upfront when closing on a home.

Oct 29, 2024 | marketwatch.com | Valicia France |David Gregory

If you need quick cash or can’t qualify for a traditional loan, you may be considering a hard money loan as an alternative option. Hard money lenders typically consider property value rather than creditworthiness for loan approval, and hard money loans can usually be approved and disbursed in less than two weeks. However, hard money loans typically have higher interest rates and much shorter repayment timelines, along with some other disadvantages.

Oct 11, 2024 | marketwatch.com | David Gregory |Becca Rose

If you’re self-employed and interested in homeownership, it may be difficult to get approved for standard financing options to buy or refinance a home. Most traditional mortgages require tax returns or pay stubs to prove income. If you don’t have typical income documentation, you may need to consider alternative mortgage options, such as a bank statement loan.

Oct 10, 2024 | marketwatch.com | Diana Hobler |David Gregory

Buying a home is an exciting yet stressful process, especially when the housing market is a seller’s market, meaning demand far exceeds supply. According to the National Association of Realtors’ August 2024 Realtors Confidence Index Survey, 26% of buyers had all-cash sales. All-cash offers are common in a seller’s market, and it can be frustrating when you feel like your offer isn’t competitive because you don’t have the cash upfront to finance your new home purchase.

Oct 10, 2024 | marketwatch.com | Joseph Widenhofer |David Gregory

If you’re a first-time homebuyer or considering refinancing your existing home, you may be wondering if you should use a mortgage broker. Mortgage brokers can help simplify the process of getting a home loan. They can typically secure the best mortgage rates and terms for you, and they’ll work with everyone involved in the lending process, from the real estate agent to the underwriter and closing agent.