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Selected category: Mortgages
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Getting the Type of Mortgage that Is Best For You
Choosing a mortgage loan should seem like a straightforward process; you borrow money from a lender for a specified amount, for a set period of time, and pay it back. However, getting a loan you feel comfortable with, one that's flexible during good times and bad, can be a challenge.
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How Will You Fund the Down Payment of Your New Home
One of the components a lender uses to help determine what loan amount to approve is your down payment. A down payment not only serves as a commitment on a borrower's behalf to make good on a loan, but also acts as a lender's guarantee to minimize risk in case a borrower defaults on a loan. The more of your own cash that you can put down for a loan, the easier it is to qualify for a higher loan amount or a lower mortgage payment.
Read →Some Republicans are calling HAMP a "colossal failure." Are they right?
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Mortgage Closing Costs
Once you've been approved for a mortgage, found a house, made an offer, and the offer has been accepted, you are close to calling your property home. What's left is to finalize the documents which will transfer ownership of the house from the seller to the buyer. The "close" or "settlement" usually involves the seller, real estate agent, lawyer, escrow agent, mortgage lender and buyer, and title company.
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How Much Home Can You Afford to Buy
Knowing how much house you can afford begins by listing the type of features you'd like to have in a home. Your individual needs, location requirements, style and the amount of effort you are willing to put into finding your dream house, all factor into the equation. How important is it for you to be near a school? How long will it take you to commute to work? How much will you spend on gas to commute to work? How safe is the neighborhood? These are all legitimate questions that can help you choose your ideal home.
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Buy versus Rent
A home is one of the most expensive purchases most of us will ever make during our lifetime. Whether you decide to rent or buy, either choice comes with its own rewards and risks.
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6 Pitfalls to Avoid When Buying A House
Once you are on your way to homeownership there are certain precautions you will want to take to further minimize your risks.
Read →The season for buying a homes is quickly approaching. Do you know what makes a home sell?
Read →The people who serve our country should get treated fairly. However, many of them have had to go through some unnecessary trouble with their mortgages, including lawsuits.
Read →Are you getting ready to apply for a mortgage? Here are three common mistakes that you should avoid.
Read →When many people buy a home, they forget about some of the other fees like closing costs. Here are some ways you can minimize your closing costs and have more money once the deal is done.
Read →Did you buy a house in 2010? If so, what was your main reason for doing so?
Read →Do you know what happens when a home goes through the foreclosure process? If you'd like to buy a foreclosure this year, here are the three stages you can expect.
Read →Do you know if you are getting into a bad mortgage deal? Here are some things to look for before you make that final decision.
Read →There could be some changes happening in the mortgage industry in the year to come. What are some of the changes to expect and how will they affect you?
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