Category: First Time Home Buyer

Five Reasons to Buy a Home in the Winter

5 Reasons to Buy a Home in the Winter Baby, its cold outside—and its only going to get colder. Before you put your home search on hold for the next four months, check out these benefits of buying a home in the winter! 1. Less Competition During the winter months, there are less buyers shopping, and… Read more »

Home Improvements and How to Finance Them

Home Improvements and How to Finance Them I don’t know what it is about the fall, but it seems to bring out the DIY-er in all of us. Instead of flocking to the beach or heading north for a quick getaway, everyone is spending their weekends at home improvement stores. If you’ve been contemplating a remodel of your… Read more »

Types of Renovation Mortgage Programs

Renovation Mortgage Programs If I had a dollar for every time someone responded to my comment about remodeling and DIY projects with the phrase “welcome to home ownership!”– I’d be rich!  Not everyone has the means to build their pinterest-inspired dream home from the ground up– but what if I told you there are mortgage programs designed to help renovate existing structures?  What… Read more »

Trended Credit Data: How Will It Affect You?

You may have heard some buzz this spring about mortgage giant Fannie Mae and trended credit data, changes which were set to take effect in June. Just days before the launch, however, the new system was delayed unexpectedly. Well folks, long-awaited Desktop Underwriter 10.0 launched this past weekend, and with it, the requirement that lenders… Read more »

Using Gift Funds for your Down Payment

Using Gift Funds for your Down Payment Not everyone has thousands of dollars lying around for a down payment when they are in the market to purchase a home, so receiving a gift can be a great option!  Here’s what you need to know, if you’re lucky enough to receive a down payment gift. There… Read more »

USDA Lowers Upfront and Annual Fees for RD Loans

USDA Lowers Fees for RD Loans Great news for homebuyers considering a USDA rural development home loan (RD Loan)!  The already popular zero down mortgage is getting even better. The USDA announced this week that they will be decreasing both the upfront guarantee fee—a closing cost which is financed into the total loan amount at close; and… Read more »

What is a Loan-to-Value (LTV) Ratio?

What is a LTV

If you’ve ever been in the market for a mortgage, you’ve probably heard the phrase ‘loan-to-value ratio’ or ‘LTV’ for short.  Obtaining a new mortgage can be nerve-wracking, even without the financial jargon and acronyms—so let’s talk about LTV, what it means, and how it affects you and your mortgage. How are Loan-to-Value ratios calculated?… Read more »

Purchase a Home with a 1% Down Mortgage

1 percent down home loan

Riverbank Finance LLC is excited to offer the new Conventional 1% Down with Equity Boot home loan program. This program is better than 99% financing. You purchase a home with a 1% down payment and we will pay up to a 2% down payment towards your home purchase! Important Update! Last date for loan submissions… Read more »