For most people, a home mortgage will be the largest debt of their life. A mortgage can also oftentimes be the biggest check you write out every month…typically for a period of 15 or 30 years! But, while it can be a nice feeling to pay off your debts and not be saddled with large monthly [...]
Whether you’re buying or selling a home, you can typically expect to pay at least some amount of money in the form of closing costs. These costs can include the long list of fees for the services that are related to researching the home’s title, finalizing the mortgage, and inspecting and appraising the property. The [...]
It has been estimated that roughly one-third of home mortgage borrowers unknowingly leave thousands of dollars one the table by not shopping around and comparing rates for the best loan, as well as the added loan acquisition fees. In fact, according to a recent Fannie Mae study, 34% of first-time home purchasers get a quote [...]
Buying a new home is typically one of the largest purchases anyone makes during their lifetime – and because of that, it will oftentimes require financing (usually a mortgage) from a bank or other lender. Having your financing lined up before you even start looking at potential properties can help you to narrow down the [...]
For most people, buying a home is the biggest purchase of their life – and it is one that more often than not will require you to borrow at least some amount of the purchase price. Thanks to the Internet, it is now easier to compare interest rates, and even fill out a mortgage loan [...]
If you’ve had your heart set on purchasing a house, but bad credit is holding you back, it may be time to start searching for your dream home again. That’s because, even though a good credit score can allow you to obtain a lower interest rate on a mortgage, having bad credit won’t necessarily prevent [...]
For many people, it will be necessary to take on a mortgage when purchasing a home. And, if you’ve been a home owner in the past, then it’s likely that you are well aware that 20% is the “magic number” as it pertains to the down payment. One reason for this is because purchasing with [...]
If you're like most people, you will need to apply for a mortgage in order to purchase a new home. But due to all of the financial and lending industry jargon, going through the process of applying for the funds you need can be somewhat confusing. Because a home is often the largest purchase that [...]
When purchasing a home, most people will need to come up with at least some amount of money for its down payment. Many lending programs today will require that a buyer put down a minimum of 3.5%. Although in a number of cases, 10 to 20% will be the norm. Depending on the purchase price [...]
Shopping for a new home doesn't just entail looking for the perfect location and the right number of rooms to meet your needs. For many people, the purchase of a home will also mean that it is necessary to shop for a home mortgage. But with so many potential options that are available from a [...]