Buying

In the housing market, cash is king. However, it isn’t easy for many people to come up with the full purchase price of a home, which is why they turn to a unique solution—paying with cash at first and then getting a mortgage later.

Seller financing, also known as owner financing or purchase-money mortgages, is when the seller manages the mortgage process and finances the purchase. If you are looking to buy a house financed by the seller, here is everything you should know.

FHA loans are a popular choice. They are supported by the U.S. Federal Housing Administration. An FHA loan could easily assist someone in buying their dream home.

The type of loan that you select will depend on your own individual needs. Lenders will also evaluate your employment and credit history before deciding whether or not to grant your loan request. Certain groups, such as teachers, firefighters, first responders, single mothers and military members may be eligible for special loan programs and discounts.

Short sales are transactions where a house is sold that still has a remaining balance on the home loan even after the sale proceeds are applied to that balance. Here are a few things to know about how long you may need to wait before you can buy another house after a short sale.

Things can be a bit more complicated when a person has gone through bankruptcy. There are different reasons why bankruptcies happen. They may be unavoidable in certain cases, but they aren’t the end of the world. It can just take more time and effort to accomplish the homeownership goal.