Financial Literacy

For years, the idea that you need a large down payment to buy a home, often 20%, has kept many potential buyers on the sidelines. But the reality is, there are options to buy a house with no money down, if you qualify. The key is understanding how these options work, who they’re designed for,…

When you start thinking about buying a home, it’s natural to focus on the down payment and monthly mortgage payment, but there are a few additional costs that come into play along the way. Understanding them early can make the process feel much more manageable. The good news? None of these costs are “gotchas.” With…

If you’re planning to build a home or significantly renovate one you already own, you may need more than a traditional mortgage. That’s where renovation and construction loans come in. These loans are designed specifically for projects where the home is being built, improved, or completed over time. Because they work differently than standard home…

If you’ve started exploring mortgage options, you’ve probably come across the term Private Mortgage Insurance (PMI), or heard it referred to more broadly as Mortgage Insurance (MI), and wondered exactly what it means for your monthly payment. For many buyers, mortgage insurance can feel like just another added cost, but the reality is, MI isn’t…

Buying your first home is a big step. And if you’ve started researching, you’ve probably realized how much conflicting advice is out there. Save 20%. Get preapproved. Find the lowest rate. Move quickly. Don’t rush. The truth is, the homebuying process isn’t one-size-fits-all. In 2026, first-time buyers are navigating a quickly changing market, evolving loan…

The idea that you need a 20% down payment to buy a home has been around for decades—but it’s one of the most common misconceptions in homebuying. In reality, most buyers today are putting down far less. And in many cases, waiting to reach that 20% threshold can actually delay homeownership longer than necessary, especially…

As housing needs continue to evolve, more homeowners are looking for flexible ways to use their property. One option gaining attention, especially with recent changes in Maine, is the Accessory Dwelling Unit, or ADU. Whether you’re thinking about creating additional living space or exploring long-term investment possibilities for your property, including creating rental income, understanding…