We all know that your credit scores affect mortgage rates. But your credit history can also affect how much you have to put down and the price you pay for private mortgage insurance (PMI). It’s not impossible to buy a home with damaged credit; it’s just much more expensive. Here’s why.
If there were just one rule of successful investing it would be “start as young as you can.” Although we frequently hear this advice as it pertains to the stock market, there are a lot of reasons to consider real estate investing in your twenties, too.
Buying a home still makes sense, but becoming a homeowner before you’re ready can have costly consequences. How much you have saved and how long you’ll stay in one place are the biggest factors in deciding whether you should rent or buy.
Should you use an online mortgage lender, like Quicken or Lending Tree? It can actually be a great idea — but you’ll want to know what to expect first. If you have a lot of questions, working face-to-face with a local broker can be reassuring.
Advertising Disclosure: Moneyunder30.com is an independent, advertising-supported blog offering financial product comparisons. The owner of this website may be compensated when users click links to or apply for sponsored financial products including, but not limited to, credit cards or bank/brokerage accounts.