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  • Writer's pictureRebecca Richardson - Mortgage Consultant

Homebuying FAQ: Your Questions Answered

I absolutely love it when you leave comments on my posts! Your questions and feedback are like a roadmap, giving me a clear view of what's on your mind.

Let's keep this conversation rolling, and I'll tackle some of the most common questions I receive, along with my best advice for homebuyers.



Need to Be Married to Buy:


One query that pops up frequently is whether you need to be married to buy a home. The truth? Not at all! In fact, you don't even need to be engaged. People buy homes together for various reasons. It could be parents helping their kids, friends pooling resources, or family members assisting after a major life change. The key is to inform your mortgage broker upfront, and the closing attorney and title company will handle the rest. It might seem like a big concern, but it's a straightforward process.

Which FTHB Mortgage is Best:


Another common question revolves around the best mortgage for first-time homebuyers (FTHB). My response is simple: it's the one you're approved for that aligns with your needs and priorities. Rather than fixating on finding a “first time homebuyer’s program” consider comparing various loan types and down payment options. While there's no specific FTHB loan, there are special programs available which may or may not be beneficial. It's all about flexibility and personalization!

No Income:


Now, here's a surprising one. You might have excellent credit and a substantial down payment, but your income is unconventional and hard to prove. Can you still buy a house? Surprisingly, yes! Whether you have a cash-based business or other non-standard income sources, there are solutions. It might involve reduced documentation, which could mean higher credit scores, a larger down payment, and/or higher interest rates. But rest assured, there's a path for everyone!

If you've got a burning question about mortgages or homebuying, just drop it in the comments and I'll provide you with practical insights to make your homeownership dreams a reality. Your questions are the key to unlocking the knowledge you seek, so fire away!

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