There is a bright side to all of this economic doom and gloom going around. If you’re poised to buy a home—or even a car—in the next few months, you’re going to get quite a deal. [...]
Rather than explain mortgage rates every time I write about home financing, let me briefly explain the differences between fixed and adjustable rate mortgages, and mortgage points here. [...]
Like a mortgage, rent on an apartment is one expense that will never go down; at least until you move. That’s why it’s so important to find the right apartment with rent (and utilities) you can afford, lest you get stuck paying way more than you should until the lease runs out.
Here are a few money-saving tips to keep in mind the next time you go apartment hunting. [...]
Buying your first home is one of the most important and exciting financial milestones of your life. But before you hit the streets with a realtor, you need to have a good sense of a realistic budget. Just how much can you afford to spend on a house? You can determine how much house you can afford by using three “rules”, or percentages of your monthly income. [...]
Ready to buy a home with the one you love? Got good credit? What about your sweetheart? If not, getting a mortgage may be difficult, not to mention a strain on your relationship. First, you must understand how mortgage lenders view joint mortgage applications (whether you’re married or not). Then, take these steps to improve the odds you’ll land your dream home…and stay in love! [...]
The volume of mortgage applications submitted to lenders is at an eight-year low, the AP reports. This news comes a day after the U.S. Commerce Department reported that construction of new homes hit a 17-year low in July. While this news makes investors and economists wince, if you’re in the market for your first home, it’s music to your ears. [...]
Did you know that if you are an American buying your first home between April 9, 2008 and July 1, 2009, the U.S. government will give you up to $7,500 in the form of a federal tax credit? [...]
Sick of renting, but not ready to spend your Saturdays on a lawn mower? Often featuring desirable locations, minimal maintenance, and smaller price tags than single-family homes, it’s no wonder young homebuyers find condos attractive. But living in a condo can present some unique challenges. Ask yourself these questions to make sure a condo living is right for you. [...]
Mortgage crises or not, it’s still a great time to buy your first home. Be smart, however, and have a pre-approved mortgage in hand before going house hunting. Applying for (and getting approved for) a mortgage before you shop could save you time, money, and heartbreak. Here’s how. [...]
A down payment between 10 and 20% on your first home or condo is more important today than ever before. Following the sub-prime mortgage meltdown, lenders are more cautious with mortgage applications and borrowers have (hopefully) learned some lessons about risky home loans. Of course, socking away $20,000 or more isn’t easy, especially in your twenties. Here are five steps to take to save up your down payment in record time. [...]
