Are Zero-Down Mortgages a Thing of the Past?

Are Zero-Down Mortgages a Thing of the Past?

“So much has changed” “I miss miss the good old days” “Things aren’t what they used to be” These catch phrases apply to many situations… including mortgages. For those who haven’t gone through the home buying prices for many years, so much  has changed concerning income, assets and credit scoring. One of the things that hasn’t changed is most loan programs require a percentage down to purchase a home. But is there still a  zero-down product out there?  Yes! There are several ways to get a zero-down home loan. USDA Rural Housing programs, VA loans for veterans, and FHA mortgages combined with down payment assistance all achieve the zero-down objective. Here is a rundown of the USDA program and what is...

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Some Mistakes to Avoid When Buying a Home

Some Mistakes to Avoid When Buying a Home

Excited….. Overwhelmed…. These are two emotions often experienced when buying a home. Even more so if you are a first time home buyer. If you’ve already started the search process, make sure you’re not making some common mistakes. Your upcoming investment could end up being a bad decision if you overlook some important facts about home ownership and sign that contract before you’re really ready. Here are some key and common mistakes first time home buyers need to avoid:  Mistake #1 – Searching for the dream home before getting pre-qualified for a loan Save yourself the disappointment of not being able to afford the home of your dreams by getting pre-qualified for your loan before you start house hunting. Instead of...

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Avoiding Frozen Pipes in Frigid Temperatures

Avoiding Frozen Pipes in Frigid Temperatures

Indiana is, once again, experiencing a longstanding arctic blast that has crushed low temperature records. Just existing in subzero temperatures can be miserable. Add the mess of frozen and/or burst pipes; it can be enough to make you want to pack up and fly south! Everything we’ve learned in school says water starts freezing at 32°, but researchers say that may not be the case with pipes. Tests of residential water systems subjected to winter temperatures demonstrated that the onset of freezing occurred when the outside temperature fell to 20 degrees or below. However, other factors can cause the pipes to freeze at temperatures above 20°. These include pipes exposed to windy, cold air which flows in due to a crack in an outside wall or lack of...

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What May Stand Between You and Getting a Mortgage

What May Stand Between You and Getting a Mortgage

If you or someone you know has been in the housing market recently, it’s likely you’ve experienced or heard that the process of getting a mortgage can be tough. Since the housing bubble burst (due in large part to just about anyone with a pulse qualifying for loans), the process has become much stricter. There are several things that may stand between you and getting the mortgage you need to buy the house of your dreams. Following are 5 to consider: 1. More Cautious Lenders After endless foreclosures, a recession, and bailouts, the last thing the banks want to do is repeat what happened in the mid-2000’s. As a result, they’re opting on the side of caution when it comes to lending money these days. Today, you’ll discover that lending...

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Save Money by Changing Your Furnace Filter

video via youtube   Replacing your furnace or air conditioner’s filter on a regular basis can help to improve the efficiency and lifespan of your homes heating and cooling equipment while helping to reduce energy costs. Save Money Saving Energy host Ryan talks with Jay Stoa, LES Energy Services Specialist, about how to check your filter, when to change it and how to correctly install a new replacement filter.    

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Don’t Let BLACK FRIDAY Get in the Way of Buying a Home!

Don’t Let BLACK FRIDAY Get in the Way of Buying a Home!

Black Friday is nearly upon us. Newspaper inserts, emails and TV commercials abound with information about the “BEST DEALS EVER!”.  You get to the store before the sun even thinks about coming up only to find that you can get an even better deal if you open a line of credit! STOP RIGHT THERE. If you are in the process of buying a home, or considering doing so anytime soon, we urge you to stop and collect your thoughts for a moment. What the heck does Black Friday have to do with buying a home!? That additional percentage off for opening a line of credit could be a deal-breaker when it comes to purchasing a home. If you are in the midst of the mortgage process with a good lender, you already know that you should hold off on opening  new credit...

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