Deciding whether or not to pay off your car before applying for a mortgage can significantly impact the terms you get on your loan. As you think through this decision and weigh your options, understanding how mortgages work and how existing debts influence your mortgage application is crucial. This decision involves weighing the benefits of a lower debt-to-income ratio against the potential impact on your ability to save for a down payment or an emergency fund. In this guide, we’ll explore the pros and cons of paying off your car loan before getting a mortgage and how it affects your mortgage application. 

First-time homebuyers often wonder whether to get their first mortgage loan from a bank, a non-bank mortgage lender, or a credit union. This article will explain the key differences between each type of lender and how to make the best choice as a first-time homebuyer.

The Texas Department of Housing and Community Affairs and the Texas State Affordable Housing Corporation both offer down payment assistance and first home loan programs to Texans who aspire to homeownership. This guide will explain the benefits and eligibility requirements for each.

This article summarizes the down payment assistance programs and first time homebuyer mortgage programs available in North Carolina.

In this guide, we'll explore key down payment assistance programs and grants available in Virginia, including the HOMEownership Down Payment Assistance Program (DPA), Virginia Individual Development Accounts (VIDA), and Virginia Housing's Down Payment Assistance (DPA) Grant, and Plus Second Mortgage programs.

Last week, the Foyer team joined forces with two of our real estate partners, Denver-based agent Riley Wenger and Boston-based lender Ariana Wetzel to offer different perspectives on being prepared for homeownership. Catch us for our next one in August!

There are several programs designed to make homeownership more attainable in the state with notoriously high property values, including loan programs and down payment assistance programs offered by the California Housing Finance Agency, otherwise known as CalHFA. Whether you’re navigating fixed-rate mortgages or seeking assistance with down payments, CalHFA has resources that could make your homebuying journey more manageable. Here's a detailed overview of the available programs and how they might benefit you.

The most commonly asked question at Foyer is "How much home can I afford?". In this post, we'll dive into exactly what goes into a monthly mortgage payment and how mortgage payments are calculated.

Are you interested in FHA loan requirements in GA? Are you curious about First Time Homebuyer Programs like the Georgia Dream program? This post outlines what the benefits are and what the eligibility requirements are.

In today's challenging real estate market, where high rents and student debts burden the aspirations of many young adults, gifting a down payment to your child might seem like a beacon of hope. Indeed, the National Association of Realtors reported that 22% of first-time homebuyers in 2022 utilized gift funds from family or friends for their down payment. For those under 30, that number increases dramatically to 40% according to a recent study by Redfin!