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Ali Klein

NMLS ID 41552

757-925-1333 aklein@tidewaterhomefunding.com

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Blog Image: 5 Ways to Save for a Down Payment

5 Ways to Save for a Down Payment

Are you thinking about making the leap from renter to homeowner? Owning a home has so many financial benefits compared to renting, so give yourself a high five for even considering the pursuit - it’s a big step! Purchasing a home is totally possible, it just requires some financial planning and preparation. In a recent survey from Cultural Outreach, most NextGen (NextGen includes both the Millennial and Gen Z generations) first-time homebuyers state the down payment as their biggest financial hurdle.[1] Coming up with a large amount of cash to put down can be overwhelming, but startin...

September 11th, 2020 5 Ways to Save for a Down Payment

Blog Image: The Little-known Mortgage That Doesn’t Require a Down Payment

The Little-known Mortgage That Doesn’t Require a Down Payment

A conventional mortgage loan requires a 20% down payment. If you are a first-time homebuyer however, saving up tens of thousands of dollars can seem like an impossible task. Of course, there are loan programs, like FHA mortgages, that allow for low down payments, but they often have stricter requirements. For some of those programs, you may have to pay higher interest rates, have better credit scores, or pay higher mortgage insurance fees.  Fortunately, there is a little-known mortgage loan that requires no down payment and minimal fees: the USDA loan. USDA Loan Defined These are mo...

September 9th, 2020 | Government Loans, USDA Loans, The Little-known Mortgage That Doesn’t Require a Down Payment

Blog Image: Should I Refinance into a 15-year Mortgage Now?

Should I Refinance into a 15-year Mortgage Now?

Mortgage interest rates are at all-time lows right now. It’s obviously a great time to refinance for lower rates and payments. Perhaps you are interested in paying off your mortgage loan faster though. Is refinancing into a shorter loan a good idea right now too? Interest Savings A 15-year fixed rate home loan is a popular option for borrowers looking to be mortgage-free sooner. These shorter loans come with even lower interest rates than 30-year mortgages, allowing homeowners to save thousands in interest. For example, for a borrower with a home valued at $300,000 with a 20% down ...

August 26th, 2020 | Refinancing a Home, Should I Refinance into a 15-year Mortgage Now?

Blog Image: How Does Your Credit Affect the Mortgage Application Process?

How Does Your Credit Affect the Mortgage Application Process?

There are a few things that play very important roles in the mortgage process when buying a new home. One of the most important ones? Your credit. We are accustomed to our credit impacting things like interest rates on auto loans or approval for new credit cards. But how exactly does your credit affect the mortgage application process? And what do we mean by ‘your credit’? Your Credit History Your credit report is a detailed summary of your credit history, prepared by a credit bureau (there are three major bureaus in the United States: Equifax, Experian, and TransUnion). F...

August 26th, 2020 How Does Your Credit Affect the Mortgage Application Process?

Blog Image: How to Set Up the Best Work From Home Space

How to Set Up the Best Work From Home Space

Even pre-quarantine, more and more Americans were starting to work from home. Calls and meetings were going virtual, companies were finding cost-savings in remote employees, and the rise of the gig economy paved the way for atypical workstyles. Figuring out a proper work-from-home space is something that everyone could use right now, and most likely, in the future, as companies transition some of the virtual practices into permanent protocol.   Creating a space that makes you feel productive and free from distractions is imperative for your mental health, too. Without the option of eve...

August 13th, 2020 How to Set Up the Best Work From Home Space

Blog Image: Do You Have Enough Money to Buy a House?

Do You Have Enough Money to Buy a House?

When potential buyers are ready to begin their dreams of homeownership, they often start by looking at real estate listings. The asking prices are the starting point for determining how much home a buyer can afford, but there are plenty of other costs and fees not spelled out in that one number. By looking at all the associated expenses, you can decide if you have enough money to buy a home. Down Payment Most mortgage loans require at least some down payment (VA loans for military are one big exception). A conventional loan an require as much as 20% down. For a $250,000 home, a 20% dow...

August 12th, 2020 | Purchasing a Home, Do You Have Enough Money to Buy a House?

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