Mortgage News

Should I Rent or Buy?

While homeownership has long been the American dream, buying a home is not necessarily the best choice for every person or every situation. There are many factors to consider in determining if a home purchase is the right decision for you right now. Can you Afford It? If the cost to own a home – mortgage, homeowners insurance and property taxes included – if less than roughly 28% of your gross income and you have few other debt obligations, you can probably afford to buy. Do not underestimate the additional costs of maintenance though. Replacing appliances or paying for a plu...

June 14th, 2018 | Purchasing a Home, Should I Rent or Buy?

4 Reasons You Don’t Want to Pay PMI

Years ago, a 20% down payment was a requirement for obtaining a mortgage loan. Putting that much money down made it less likely that borrowers would simply default on their home loans and gave lenders a measure of security and collateral in the case of foreclosure. However, in more recent years, lenders have gotten much more creative in financing to help more Americans become homeowners. There are now mortgage loans that require as little as 3% down up front. In order to compensate for that added risk of loss, lenders require and borrowers with a down payment of less than 20% to pay for pri...

June 7th, 2018 | First-time Homebuyers, 4 Reasons You Don’t Want to Pay PMI

Community Partners Products

UP TO $7,500 AVAILABLE FOR HOME PURCHASE At Tidewater Home Funding, we are committed to supporting families and individuals who make their living serving others in the community. As part of this commitment, we offer a unique financial opportunity for current or retired law enforcement officers, educators, health care workers, firefighters, and other first responders who are purchasing a home. We can assist homebuyers in accessing matching funds for the down payment, closing costs, and rehabilitation costs incurred when purchasing a home. For every $1 you contribute to your home purchase,...

May 31st, 2018 Community Partners Products

First-Time Homebuyer

UP TO $5,000 AVAILABLE FOR HOME PURCHASE Buying your first home is an important milestone in your life. Here at Tidewater Home Funding, we understand that finding the right financing plan is as important as finding a home that fits your lifestyle. To help you get started on solid footing, Tidewater Home Funding can assist first-time homebuyers in accessing matching funds for the down payment and closing costs incurred when purchasing a home. For every $1 you contribute to your home purchase, you can receive $4 in matching funds, up to $5,000. Funding is available to qualified first-time ...

May 31st, 2018 First-Time Homebuyer

Fix & Flip Financing

RECOURSE & NON-RECOURSE OPTIONS Fix & Flip Line of Credit Lines of credit for multiple transactions  Funding up to: 90% of purchase price / 95% of rehab / 75% LTV (after repair value) Loans from $50K to $2.5MM Must be non-owner occupied Minimum credit score 620 New Construction Line of Credit Lines of credit for multiple transactions  Funding up to: 75% of as is value / 85% loan-to-cost / 85% rehab of budget Loans from $250K to $100MM Minimum credit score 660 Must be non-owner occupied Per guidelines, must meet experience requirements....

May 29th, 2018 Fix & Flip Financing

Veterans Products

UP TO $10,000 AVAILABLE FOR HOME PURCHASE At Tidewater Home Funding, we are committed to supporting our military community by helping you have a home that is safe, accessible, and cost-effective to own. We’re also here to support you if you’re looking to achieve the dream of first-time homeownership or purchasing a new home to support your growing household. As a special offering to the military community, Tidewater Home Funding can help eligible veterans or active-duty members of the U.S. military*, their spouses, or their surviving spouses access grant funds to pay for acce...

May 22nd, 2018 Veterans Products

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Tidewater Home Funding

Tidewater Home Funding, LLC NMLS# 41552
(www.nmlsconsumeraccess.org).
Equal Housing Lender.

Licensed in Virginia, North Carolina & Florida.

VSCC Bureau of Financial Institutions, P.O. Box 640, Richmond VA 23218-0640, (1-800-552-7945) www.scc.virginia.gov/bfi

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