There are a number of things you need to do before you close on a home. Things like applying for a loan, scheduling a home inspection, and purchasing homeowner’s insurance, just to name a few. To make the process easier to understand, here is a list of nine things you’ll need to do before closing on your new home.
Congrats, you found your first house! We know you're excited to move in and make it your own, but before you start hauling boxes, there are a couple steps you have to take to make the deal official.
With any big purchase, there’s going to be some paperwork. It's easy to skim through the pile of documents and sign away, but it's important to understand what you're agreeing to.
You may have already practiced this skill in your everyday life. Can you think of a time when you were hungry and wanted to go out to eat, but decided to stay in and cook rather than going out to your favorite restaurant?
When you’re trying to find the right interest rate for your new home mortgage, you have two choices: Fixed-rate and adjustable-rate interest.
Your interest rate plays a big role in home affordability. The interest rate is how much the bank gets paid for lending you the money to buy a house, and you pay it back to them on a monthly basis as part of your mortgage payment.
As a first time homebuyer, it’s important to understand all the costs that go into owning a home. For starters, did you know that your monthly house payment actually includes more than just the principal and interest of your mortgage?
If you're looking to buy a home with an affordable home loan, there are a lot of options available to you. One more well-known option is to get a loan through the Federal Housing Administration, called an FHA loan. We have a blog that dives deep into the pros and cons of FHA loans here.
Want to know how an FHA loan compares to a loan from TCHFH Lending, Inc. (Twin Cities Habitat's wholly-owned mortgage company)? Check out this handy guide to compare these products to determine what's best for you.
Are you interested in buying your first home, but can’t afford a down payment? While traditional mortgages generally require a down payment, there are other options to help you get that dream home. You may qualify for the Twin Cities Habitat Homeownership Program! The program provides education to help buyers prepare for homeownership as well as affordable loan options through TCHFH Lending, Inc.
For a long time, Twin Cities Habitat for Humanity has been known for building homes in an effort to provide stable housing for local families.
However, Twin Cities Habitat Homeownership Program participants aren’t limited to buying just Habitat-built homes. In fact, we offer two routes to stable, affordable homeownership — Habitat-built or rehabbed homes or using a Habitat mortgage* to find a home on the open real estate market. And by offering an affordable mortgage product* for open market purchases, we can partner with real estate agents to serve a larger population of first-time homebuyers.
Did you know that June is National Homeownership Month? It's a great time to reflect on the impact that owning a home has on individuals and the community. When homeownership is affordable, kids do better in school, parents are more confident about finance, families are healthier, and neighborhoods are stronger.
One of the most popular and well-known ways to support Habitat for Humanity is volunteering on a home construction site.
