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Ali Klein

NMLS ID 41552

757-925-1333 aklein@tidewaterhomefunding.com

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Blog Image: Can you a Buy a Home with Bad Credit?

Can you a Buy a Home with Bad Credit?

Mortgage interest rates are at record lows and it could be a really good time to get into the housing market. Of course, to get a mortgage loan for a home purchase lenders will look at your credit score. If you’re scared of what they’ll find when they check, can you still buy a home? Credit Scores Explained Three separate credit reporting bureaus keep track of all your credit history – Equifax, Experian, and TransUnion. They use a scoring system to give you a FICO number to reflect how responsible you are with repaying debts. The breakdown looks like this: Excep...

February 24th, 2021 | Purchasing a Home, Can you a Buy a Home with Bad Credit?

Blog Image: Find the Right Budget for Building Family Wealth

Find the Right Budget for Building Family Wealth

Budgeting is one of the key concepts to improving personal and family wealth. Creating a plan to increase savings, emergency funds and prep for long-term needs is essential to everyone, but few families are doing this consistently. Budgeting is a habit. Find the right type of budget that works for your family. Here are some of the most popular budgeting options for families to increase wealth long-term. Envelope Budgeting The envelope budget focuses on assigning money to specific categories and not spending any more than what is in each “envelope”. This was a popular way ...

February 12th, 2021 Find the Right Budget for Building Family Wealth

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...

February 10th, 2021 | Government Loans, USDA Loans, The Little-known Mortgage That Doesn’t Require a Down Payment

Blog Image: Financing a Home Renovation: When Is It Worth It?

Financing a Home Renovation: When Is It Worth It?

The rise of TV shows like Fixer Upper and Flip or Flop have many homeowners and potential buyers considering renovation as an option to generate value and equity in their home. DIY projects can be exciting, but do they really add value to the home? How do you know when it makes sense to put the sweat and financial equity back into the home? Understanding how the process works, when to update, and how to fund can be the difference between pretty aesthetics with no value and an equity increase through renovation. What is A HELOC? A HELOC is a Home Equity Line of Credit that allows borrower...

January 29th, 2021 Financing a Home Renovation: When Is It Worth It?

Blog Image: Federal Home Loan Grant Now Extended to Essential Workers During COVID

Federal Home Loan Grant Now Extended to Essential Workers During COVID

As we roll into the new year, it’s important to discuss several grant options that now have enhanced perks and greater accessibility for future homeowners. The grant options come from the Federal Home Loan Bank (FHLB). Previously, FHLB made the grant available to first-time homebuyers, civil servants or current/retired military. Now, the program is open to “essential workers” during COVID. Who is an “essential worker”? The term applies to a variety of occupations like medical professionals, food manufacturers, transportation workers, people in the legal worl...

January 29th, 2021 Federal Home Loan Grant Now Extended to Essential Workers During COVID

Blog Image: 6 Tips for Saving a Down Payment as a Renter

6 Tips for Saving a Down Payment as a Renter

Homeownership is the American Dream, and yet with house prices on the rise, it can sometimes feel unattainable if you’re still trying to make a rent payment each month. The average U.S. rent for a two-bedroom apartment as of June 2020 was $1,917, according to Rent.com, an increase of $39 over 2019. While that may not seem like a huge jump, it does make it harder to save for buying a house, especially when average home prices have risen 15% in roughly the same time, according to the National Association of Realtors. Even with increasing prices, it is possible to save for that firs...

January 27th, 2021 | First-time Homebuyers, Purchasing a Home, 6 Tips for Saving a Down Payment as a Renter

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