Category: News

Common Home-Buying Mistakes People Make at Every Age

Common Home-Buying Mistakes People Make at Every Age

Whether it’s choosing the wrong location or buying more house than you can afford, almost everyone makes mistakes when it comes to purchasing a home. That being said, certain age groups are more susceptible to particular missteps than others. Here, Bankrate discusses some common mistakes homeowners make at each age, and a few ways to avoid them.   20s: Getting the wrong

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6 Down Payment Myths You Should Stop Believing Immediately

6 Down Payment Myths You Should Stop Believing Immediately

Thinking about buying your first home? That worrisome down payment has probably kept you awake for more than a few nights. That’s understandable. Although a pre-approval is crucial for determining your buying power, it’s the down payment that shows you mean business. Saving up is difficult, however, and it’s often a roadblock that keeps many individuals from buying a home.

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5 EASY WAYS TO PAY OFF YOUR MORTGAGE FASTER

5 Easy Ways to Pay Off Your Mortgage Faster

If you’re a homeowner, there’s one thing that won’t change: your obligation to make a monthly mortgage payment. The good news? A loan term doesn’t have to dictate when you free yourself from this financial commitment. Here, Trulia gives 5 tried-and-true ways to pay off and cut the ties early while lowering the total amount paid in the process.  1. Refinance

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Why Home Buyers Need a Proof of Funds Letter for a Real Estate Purchase

Why Home Buyers Need a Proof of Funds Letter for a Real Estate Purchase

When it comes time to purchase a home, a proof of funds letter shows that a buyer has enough liquid cash to complete the deal. If fact, buyers shouldn’t feel prepared to make an offer without this document because buyers will want to see this essential paperwork to determine whether the purchaser is truly able to afford the house. Here, Realtor.com

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What You Need to Know About Buying a Home in Spring 2018

Springtime means warmer temperatures, blooming flowers—and prime real estate season. However, the market is different every year, and spring 2018 is a uniquely challenging time for buyers, especially those looking for starter homes due to low inventory, higher prices and rising interest rates. Here, Trulia offers some smart choices and tips that can help homebuyers in this spring’s tight housing market.  

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All About the New Closing Disclosure Form

A closing disclosure form outlines the terms and costs of your mortgage, and it’s one of the most important pieces of paperwork to check before you close on a home. Lenders must provide borrowers with a closing disclosure (or a CD) at least three business days before closing—that day when all of the remaining paperwork is signed and you get the

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How to Get the Best Mortgage Rate

Most people who decide to buy a home don’t have enough for a down payment sitting in their savings accounts, which means you’ll need to borrow most of that amount from a lender and spend awhile paying it back with interest. That’s why your mortgage interest rate is a big deal. Lowering your rate by one or two percentage points

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How to Save for a Down Payment on a Home

When it comes to being approved for a mortgage on a home, a down payment is a requirement. This typically involves paying 20 percent of the purchase price in cash up-front, with the mortgage financing the remaining 80 percent. That’s a large chunk of change to come up with at once, and many people don’t have that amount saved in

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Should You Pay Off Your Mortgage Early?

More than half of Americans own their homes rather than rent, and if you’re one of them, you’re probably used to getting a mortgage statement in the mail each month. If you take a close at that statement before writing your check, you’ll notice that part of what you’re paying is applied to the interest portion of your loan, as

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What You Need to Know About Mortgage Taxes in 2018

Although the Federal Government tries to encourage homeownership by offering tax breaks linked to mortgages, recent changes to the tax laws will affect how much typical homeowners are able to benefit from these deductions. Here, The Motley Fool discusses the big changes that could affect homeowners and their taxes in the coming year. The basics of the mortgage interest deduction Mortgage

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