Whether you’re a freelancer, temp worker or independent contractor, they’re all the same term for a job that feeds the gig economy. The upside? Instead of working full-time for only one employer, you have the flexibility, freedom and personal fulfillment to work when you want. There’s a downside to this freedom — your income could be “riskier” if you want to get a loan,
A mortgage likely is the largest debt you’ll ever have, so paying it off is a significant achievement. But be warned: Depending on various factors, this act of financial responsibility could increase or decrease your credit score. Here, realtor.com explains how it could affect your FICO score. Your credit score could decrease Paying off what is likely your largest installment debt
Thinking about buying your first home? Here, realtor.com lays out all of the must-know details of purchasing for the first time, whether it’s getting a mortgage, choosing a real estate agent, shopping for a home or making a down payment. 1. How much home you can afford Because homes are a large expenditure, you’ll likely need a home loan
You’ve found the house you love, put in a good offer and it was accepted. If you’ve applied for a mortgage, the next step is to undergo a comprehensive appraisal of its worth. And be warned: An unfavorable home appraisal can squash a real estate deal. Here, realtor.com offers insight into how the home appraisal process works. Appraisals estimate
Hoping to buy a home? One number you’ll want to get to know well is your credit score. Also called a credit rating or FICO score (named after the company that created it, the Fair Isaac Corporation), this three-digit number is a numerical representation of your credit report that outlines your history of paying off debts. Why does your credit score
Buying a house is exciting, but the home loan process sometimes can be a bit daunting. Here, realtor.com offers some expert mortgage advice that should work well in 2019. 1. Consider an adjustable rate mortgage You’ve probably always assumed you’d get a 30-year mortgage with a fixed interest rate, but if you’re not buying your forever home then the benefits
According to realtor.com, these five money mistakes could lead to your mortgage being derailed. 1. Moving money around If you have cash in the bank, do not move it anywhere while you wait to close. Buying stock, for example, will lower your net value and reduce the cash you can bring to closing. 2. Taking a leave of absence
Purchasing a home for the First-time is a major commitment. That’s why you should work with a fiduciary financial planner to help make sure you can buy a house that you can afford without sacrificing your financial future. Then, a Realtor can help you track down the right house, while a lender will help you find great mortgage options. Here,
If you’re ready to take the leap and become a home owner, that usually means you’ll have to get a mortgage. Unfortunately, not everyone who wants to buy a home can qualify for a mortgage because lenders try to make certain you’ll pay back your debt before they allow you to borrow. Depending on the lender and the type of
You know you need to be organized before looking at homes, but does that include securing a pre-approval letter from the bank? Truth is, getting pre-approved can improve your chances of falling into the sellers’ good graces, so you want to get it done as soon as possible in the home-buying process. Here, realtor.com discusses what a pre-approval letter actually is and more. What is a
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