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If you're in the process of buying your first home and have been trying to find all the facts in one place, you can stop looking now. Housing Finance 2020 lays out clearly and concisely the New Mortgage Programs for the New Generation of Homebuyers. With explanations on conventional and government-insured mortgage programs, qualifying guidelines, the steps to applying for a mortgage, and more, you can feel confident that you won't need any other resource to help you through the daunting process of buying your first home.
The newest mortgage initiatives from federal housing finance agencies have been expanded to enable consumers to purchase a home with little or no down payment. Many restrictions have been lifted that boost homeownership affordability. A whole new vocabulary of terms, such as "soft seconds" and "forgivable loans" are explained, and key programs from each agency are featured in the 50-state resource directory, along with a representative preview of the state agency's borrower eligibility guidelines. Individual chapters explain conventional loans, FHA loans, programs for Veterans, and Service members, Native Americans, Manufactured Housing, Rural Housing, Reverse Mortgages for seniors, and the national Good Neighbor Next Door Program for policeman, firefighters, EMTs, and school teachers.
Written with clear, understandable explanations, and with over 100 infographics that explain how mortgages work, how to estimate the future value of a home, and how to project net home equity over time, Housing Finance 2020 aims to hold the hand of first-time homebuyers as they make the first big step toward their future.
The newest mortgage initiatives from federal housing finance agencies have been expanded to enable consumers to purchase a home with little or no down payment. Many restrictions have been lifted that boost homeownership affordability. A whole new vocabulary of terms, such as "soft seconds" and "forgivable loans" are explained, and key programs from each agency are featured in the 50-state resource directory, along with a representative preview of the state agency's borrower eligibility guidelines. Individual chapters explain conventional loans, FHA loans, programs for Veterans, and Service members, Native Americans, Manufactured Housing, Rural Housing, Reverse Mortgages for seniors, and the national Good Neighbor Next Door Program for policeman, firefighters, EMTs, and school teachers.
Written with clear, understandable explanations, and with over 100 infographics that explain how mortgages work, how to estimate the future value of a home, and how to project net home equity over time, Housing Finance 2020 aims to hold the hand of first-time homebuyers as they make the first big step toward their future.