Many dream of home ownership, which they fulfill through years of hard work. Fortunately, housing aid from the government and reputed financial institutions is available. The Department of Housing and Urban Development (HUD) is one such body. HUD, which is also responsible for overseeing the Federal Housing Administration (FHA), runs many loans and programs to increase home ownership, make safe and affordable housing widely available, reduce homelessness, and fight housing discrimination.

Buying a house is an expensive affair. With property costs rising year on year, home loans offer a handy option for quick access to cash to support home purchases. But, such loans also come with stringent creditworthiness requirements, and banks charge a huge interest on loan repayments. Fortunately, there are some ways and tips to find home loan providers that offer affordable interest rates and flexible credit requirements, helping first-time home buyers.

A mortgage refinance is a process where a person pays off an existing mortgage with a new one. The new mortgage will have better terms, a lower interest rate, and other advantages. That said, the mortgage refinance procedure can be daunting, especially for those who have never been through it before.

If you are new to home loans or if you have just started your preparation to apply, there are some basic terms and concepts you need to be familiar with. Collateral: It is a security or asset provided to the lender by the borrower in lieu of the loan amount.

Finding a new home is an exciting experience for all. Whether the process is overwhelming or pleasant simply rests on getting things in order to ensure a smooth transition. One of the main steps in that process is being aware of the factors which makes you eligible for a home loan.

Buying a home is a dream for most of us, and it is hard to get one. From the tedious paperwork to the people and fees involved, there are tons of important things that go into buying a home. Additionally, if you’re a first-time home buyer, there is a whole list of queries.

You do not have to build castles in the air anymore. If you have been dreaming about owning your own home, and are worried about your low credit rating or non-availability of funds for a down payment, FHA loans are the ideal solution for you. Helping the first time homeowners realize their dreams is FHA, the Federal Housing Administration, offering mortgages that are insured, for 15 or 30 year terms with fixed or adjustable interest rates.

Launched by the Federal Housing Finance Agency or FHA in the United States in the year 2009, the HARP – Home Affordable Refinance Program – is a home loan initiative targeted specifically at homeowners who have negative equity and are looking for options to refinance their mortgages. That is, for those people who own property and are continuing to pay the regular mortgage and the property has a value below the outstanding balance on the mortgage that was used to purchase it.