Renters everywhere are feeling the constraints of rising rents. Rising rents erodes your ability to save for the cash needed to buy a home. It becomes a catch 22 because the longer you rent the more you need to save in order to offset rent increases while maintaining the rate at which you are saving.…
If not handled properly, your student loan may adversely change your home purchase plans. Here’s what you probably don’t know regarding your student loan servicer… Just like any other credit obligation, your student loan servicer reports to the credit bureaus. Even if the payment is deferred, the obligation still reports every 30 days much like…
Mortgage interest is a double edge sword, on one hand it’s a tax-deductible expense, but by and large it is the heaviest cost of homeownership. What to pay attention to if you have not done a mortgage in a few years or bought a home before. Interest Works The Opposite Of Rent The amount of…
Lending requirements are starting to loosen, and gone are the days of overly stringent mortgage underwriting. While this remains… here are five things borrowers still do in the loan process that make things more dicey. Co-mingling Gift Funds-let’s say you’re receiving gift monies from family to buy a home. You instruct your family member providing…
Looking for a bad credit mortgage loan? If your credit is not up to par, yes, you can still get a mortgage with hoop jumping. Believe it or not you may even be able to seal the deal even with credit score sub 620. Here’s what to expect… FHA- that’s right, the only program out…
Home prices have risen across the country in comparison to just a mere few years ago. Despite that, here is how you may still be able to obtain a seller credit for closing costs… A credit for closing costs involves the seller of the property you’re interested in buying receiving less net proceeds in exchange…
Most strategies to pay off your home involve making radical principal prepayments or moving to a shorter-term debt structure. Here is a way to refinance your home using your lender’s money. Quick Finance Lesson: Lenders generate more revenue on higher interest rate loans. The catch is, the additional revenue is not kept by the lender,…
Here are three things you must have to buy a home in today’s competitive real estate market… $20,000 of cash-The market has radically changed and in many markets across the country, sellers are in control. You’ll need at least $20,000 of your own funds or have access to $20,000 to buy a home successfully. $10,000…