Category: Financing & insuring

Affording a home is all in the numbers! Get mortgage information, plus discover everything you need to think about to get your new home insured the right way.

Financing & insuring

April 15, 2014

Things to Know About Homebuyers Insurance

With the purchase of your new home, it’s wise and often even mandatory to protect such a large investment with different types of insurance policies. Read on for our quick guide to the main types of insurance policies you might encounter and why you may need to purchase them. HOMEOWNERS INSURANCE Homeowners insurance is designed…
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Buying a home, Financing & insuring

March 12, 2014

How Much Can I Afford on a Home Loan in 2014?

Each year can bring anything from minor tweaks to major overhauls in mortgage lending, possibly affecting how much house you can afford to buy. To help simplify how to financially prepare for homeownership this year, we’ve compiled some of the more important gamechangers for you to be aware of in 2014. New Qualified Mortage Rules…
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Financing & insuring

March 6, 2014

From the FAQ File: Title Insurance

When you’re buying a home, one of the things you’ll be expected to have at the closing table is title insurance. Q: What is title insurance? A: Title insurance protects against unexpected problems associated with the title to your new home, such as liens for unpaid taxes or unpaid work on the property, mistakes or…
Read more: From the FAQ File: Title Insurance
Financing & insuring

January 24, 2014

Down Payment Savings Strategies

Whether you’re a renter ready to become a homeowner, or a would-be move-up buyer, saving for a down payment on a house can be a challenge. Depending on your timeframe, how much you need to save and how aggressive you’re willing to be, there are several things you can do to shorten the path to…
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Financing & insuring

December 16, 2013

Still Time to Enjoy 2013 FHA Limits

Did you know that many FHA loan limits are lowering in 2014? The reduced limits will exclude a growing number of borrowers from FHA financing, depending on the county and the price point of the home. FHA Benefits You May Miss Out On If You Don’t Act Soon… Lower FHA down payment • Lower credit…
Read more: Still Time to Enjoy 2013 FHA Limits
Financing & insuring

November 1, 2013

A Mortgage Loan Checklist: Paperwork to Prepare

“Oh, that darn paperwork! Wouldn’t it be easier if it all just blew away?”– Mike Wazowski, Monsters, Inc. Don’t let a fear of paperwork keep you from the home of your dreams. Take advantage of our straightforward mortgage loan checklist to put together the right documentation for your loan officer—helping to simplify your application process…
Read more: A Mortgage Loan Checklist: Paperwork to Prepare
Financing & insuring

June 19, 2013

Quick Facts on PMI

What is PMI? PMI stands for private mortgage insurance. It’s an insurance policy that protects a mortgage lender against loss if a borrower defaults on a loan. Who is asked to pay PMI? It varies, but lenders typically require PMI on conventional loans with a less than 20% down payment. How much does PMI cost?…
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Financing & insuring

June 3, 2013

A Home Safety Checklist (That Could Save You Money!)

There are many ways to save money on homeowners insurance: bundling multiple policies, buying a new home instead of resale, increasing your deductible, maintaining good credit—and that’s just naming a few. But, did you know that there are also some simple things you can do around the house to protect your pocketbook, as well as…
Read more: A Home Safety Checklist (That Could Save You Money!)
Financing & insuring

February 25, 2013

How Much House Can I Afford?

Attractive interest rates, news of rising home values and tight rental markets have many Americans daydreaming about a new home. If you’re one of them, you may be surprised by how much home you can afford—and how easy it can be to find out. Step 1: Review your budget. If you don’t already have a…
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Financing & insuring

January 2, 2013

From the FAQ File: Credit Health

Some of the questions we receive aren’t about Richmond American Homes, but about homebuying in general. For example… Q: Do I have to have spotless credit to buy a home? A: No, but a good credit history may help you get a better interest rate on your mortgage. If you’re not sure whether you’re ready…
Read more: From the FAQ File: Credit Health
Financing & insuring

December 24, 2012

Resolution Time! 3 Ways to Save More Money

New Year’s resolutions: Every year we make them, and every year most of us are lucky to keep them till February. Why? Because breaking bad habits is hard, and it only gets harder as time goes by and our motivation fades. But, there’s good news! If your New Year’s resolution is to save money, there…
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