Standard Mortgage Blog

For many prospective homebuyers, the down payment requirement may be intimidating. However, certain loan opportunities may bring much-needed relief and reassurance, making homeownership an achievable goal. Mortgage down payment assistance programs are designed to help individuals overcome the challenge of saving for a down payment, helping them secure their dream home sooner than expected.

The taxes and insurance component of your monthly mortgage payment may include mortgage insurance, which protects investors from default if a borrower fails to pay. Mortgage insurance is a valuable tool, but borrowers frequently have concerns regarding its length, available payment plans, and early payoff possibilities.

Your credit score affects every step of the home-buying process, from obtaining a mortgage to negotiating interest rates, which can affect the loan amount or program you qualify for. Here is why having a high credit score is important when buying a house.