Can you completely own a house?

Unless you have an allodial title to your property (which is practically nonexistent in the US), you don’t really own your home, even if you don’t have a mortgage since you have to pay property taxes. Call it a mortgage payment, call it taxes, but you owe money and if you don’t pay you lose your property.

How soon after buying a house can you buy another house?

In most cases, there is no set amount of time that you must wait before you’re allowed to get a second mortgage. Lenders are far more concerned about how much equity you have in your home and how much debt you’re carrying.

What do you mean by home possible mortgage?

mortgages (collectively referred to as Home Possible mortgages) offer outstanding flexibility and options to meet a variety of borrowers’ needs. With Home Possible, you’ll capitalize on opportunities to meet the home financing needs of low- and moderate-income borrowers looking for low down payments and flexible sources of funds. (Continues)

What kind of help can I get to buy a home?

The Department of Housing and Urban Development (HUD) offers a variety of federal programs that may be able to help you purchase a home if you qualify for assistance: FHA Loans for First-Time Homebuyers. The Federal Housing Administration (FHA), part of HUD, insures mortgages, making it easier for potential homeowners to afford loans.

What do you need to know about home possible?

With Home Possible, you’ll capitalize on opportunities to meet the home financing needs of low- and moderate-income borrowers looking for low down payments and flexible sources of funds. (Continues) Home Possible is designed to meet the needs of: • First-time homebuyers, move-up borrowers, and retirees.

Are there any government programs to help you buy a home?

Learn about government programs that make it easier to purchase a home. The Department of Housing and Urban Development (HUD) offers a variety of federal programs that may be able to help you purchase a home if you qualify for assistance: