Mortgage giants unveil lending rules to let more Americans buy homes with 3 percent down WASHINGTON (AP) — Some Americans will soon be able to buy a home with a down payment as low as 3 percent, compared with the current minimum of 5 percent, the mortgage giants Fannie Mae and Freddie Mac say. The new lending guidelines announced by the companies Monday are designed to help more low-income and first-time buyers afford homes. Millions of...

Home price gains are slowing, credit is thawing and more first-time buyers may be hitting the real estate market in 2015. Better balance in the housing sector is “in” next year, as far as trends go. That’s likely to put buyers and sellers on a more even footing. Some prospective sellers sound especially bullish on housing. In a recent Trulia survey, the biggest chunk of consumers – 36% – said they expect next year to be much...

The rich patina of wood floors adds beauty and elegance to any home. Older homes were once routinely constructed with hardwood floors, but that practice was abandoned in the 1950s, when new technologies made wall-to-wall carpeting available. Builders were able to build more homes faster, for the post-war baby boom, and save money on labor. But today, many homeowners prefer hardwoods to carpet. Hardwoods help give the impression that your home...

Before you pour your savings into a new kitchen and a rainforest shower for the master, think about whether or not you’ll be able to recoup your investment when it comes time to sell.   If you have equity in your home, you can make improvements, but don’t go over the limit of what other buyers can spend for a home similar to yours in your neighborhood.   While it’s tempting to make your home more beautiful, you have...

Tax season can make most of us cringe. But, if you’re a homeowner, make certain you meet with experts to see how you may benefit at tax time by owning a home.   Minimizing your tax liability is always the goal. Start first by getting all your paperwork together. Hopefully you’ve kept good, clean records of everything pertaining to your home. Remodeling projects can often be deducted, so go through your files and search for the...