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

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

   FHA loan: Insured by the Federal Housing Administration, FHA loans allow you to buy a home with a minimum credit score of 580 and as little as 3.5 percent down, or a credit score as low as 500 ...

3. 14 Things You Must Do Before Buying Your First Home - AOL

   www.aol.com/14-things-must-buying-first...

   “This means that a lender has reviewed your credit and finances and has agreed to lend you a certain amount of money to buy a home,” said Linda Schroder, real estate investor at Cash For ...

4. Mortgage prequalification vs. preapproval: How to time these ...

   www.aol.com/finance/mortgage-prequalification-vs...

   Depending on the lender, this process could happen in minutes or take up to a week or more. Online lenders tend to turn around preapprovals in as little as one or two days. Get a preapproval letter.

5. Escrow - Wikipedia

   en.wikipedia.org/wiki/Escrow

   Some types of loans, most notably Federal Housing Administration (FHA) loans, require the lender to maintain an escrow account for the life of the loan. Even with a fixed interest rate , monthly mortgage payments may change over the life of the loan due to changes in property taxes and insurance premiums.

6. First-time buyer - Wikipedia

   en.wikipedia.org/wiki/First-time_buyer

   A first-time buyer is usually desirable to a seller as they do not have to sell a property, and as such will not involve a housing chain. [2]In the US, Canada, [3] and Australia, [4] the average age of first-time buyers is usually around their mid-30s, [5] [6] while in the UK it's between 25 and 34 years old.

7. Mortgage industry of the United States - Wikipedia

   en.wikipedia.org/wiki/Mortgage_industry_of_the...

   Loans may also be categorized by whether there is full documentation, alternative documentation, or little to no documentations, with extreme "no income no job no asset" loans referred to as "NINJA" loans. No doc loans were popular in the early 2000s, but were largely phased out following the subprime mortgage crisis. Low-doc loans carry a ...

8. Secondary mortgage market: What it is and how it works - AOL

   www.aol.com/finance/secondary-mortgage-market...

   The aggregator repeats the process of buying conforming loans, amassing hundreds or thousands of mortgages across the U.S. Then it packages, or “securitizes,” these loans into mortgage-backed ...

9. Real Estate Settlement Procedures Act - Wikipedia

   en.wikipedia.org/wiki/Real_Estate_Settlement...

   For example, a lender advertising a home loan might have advertised the loan with a 5% interest rate, but then when one applies for the loan one is told that one must use the lender's affiliated title insurance company and pay $5,000 for the service, whereas the normal rate is $1,000. The title company would then have paid $4,000 to the lender.