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  2. Guide to first-time homebuyer loans and programs - AOL

    www.aol.com/finance/guide-first-time-homebuyer...

    It also requires you to pay for private mortgage insurance (PMI), a type of policy that protects your mortgage lender should you stop paying back your loan. You’ll pay these premiums until you ...

  3. First-time homebuyer guide - AOL

    www.aol.com/finance/first-time-homebuyer-guide...

    That said, you can still get a loan with a score as low as 620 for a conventional loan or 500 for an FHA loan. You might not get the most attractive interest rate with that score, however, and ...

  4. Lease purchase contract - Wikipedia

    en.wikipedia.org/wiki/Lease_purchase_contract

    The tenant/buyer is responsible for securing the necessary mortgage loan to finalize the purchase of the home. Should the tenant/buyer be unable to purchase the house due to a lack of financing, the tenant and landlord can agree to extend the option period, convert the lease purchase contract into a traditional rental agreement, or end the ...

  5. 16 first-time homebuyer mistakes to avoid - AOL

    www.aol.com/finance/16-first-time-homebuyer...

    If you find a home you like, you may pay less than you would have during the height of the pandemic and subsequent supply shortages. Housing prices reached a peak in Q4 2022, when the median home ...

  6. Prepayment of loan - Wikipedia

    en.wikipedia.org/wiki/Prepayment_of_loan

    In general, only borrowers who expect to keep their loans for many years should opt for below-market interest rates by paying mortgage origination points or forgoing automobile rebates. Homeowner prepayment decisions are impacted by a number of variables and are notoriously hard to predict, adding another layer of uncertainty to investing in ...

  7. Down payment assistance: How it works and how to get it - AOL

    www.aol.com/finance/mortgage-down-payment...

    When you buy a home with a mortgage, that mortgage is the first or primary lien on the property. A second mortgage is an additional lien tied to your home. In the case of down payment assistance ...