MoneyUnder30.com

What Your Mortgage Interest Rate Really Means

A free Google Doc loan payoff spreadsheet from MoneyUnder30.com

With mortgage rates so low right now, it seems everybody is talking about what a smoking hot mortgage rate they got on their new house. But mortgage rates are tricky. It’s easy to look at a 3.75 percent APR mortgage rate and say “holy cow” when, 25 years ago, the national average interest rate for a […]

Your First Home: What Can You Get for $200k?

Examples of a $200k house in the Twin Cities

As if I don’t get enough real estate as a full-time broker, I spend what little time I take off from work watching the HDTV show “House Hunters.” Why watch something I see day in and out? For the same reason anyone does — to compare. I sit there, thinking about my own house and […]

Q&A: Can We Get Approved For A Mortgage With $109k In Student Loan Debt?

Should you buy a home even with big student loan debts? It depends on your goals.

Can you buy a house with large student loans? Probably. But the bigger question is whether or not you should. And if you do get a mortgage, how much should you borrow? Here’s a rundown of what the banks will let you do, and what you should actually do.

How Lease Options Work When You ‘Rent To Own’ A House

Renting a house with the option to buy -- called a lease option -- can be a fast-track to home ownership.

We spend a lot of time debating when you know it’s a good time for you to buy a home and, sometimes, offering gentle reminders that it can be smart to rent. But there’s another option: One that melds the pros and cons of both home ownership and renting. You’ve probably seen rent to own furniture […]

What I Learned From Buying My First Home

A few weeks ago, I closed on my first home. (Two months ago, I didn’t even know what closing on a home really meant…that’s how fast this all happened!) Still, we’ve been on the road to this day for a few years. My husband and I paid off our student loans and my car loan […]

Is It Your Time To Buy A House? Four Questions To Ask Yourself

Editor’s Note:  Many of you write in asking if you’re ready to buy a home. Others have asked if rental real estate makes a good investment, which we will get into in two upcoming posts. If you’re a happy renter, know that we’re not unduly glorifying real estate ownership. But because so many readers are […]

Lessons from a Realtor: 7 Dos and Don’ts for Buying or Selling a Home

Between the dream of home ownership and turning the key to your new home, a lot has to happen—and a lot can go wrong. After all, real estate transactions take place between two imperfect parties: human beings. When I started out as a Realtor, I made mistakes just like anyone. I also witnessed clients make […]

Why So Many People Are House Poor and How You Can Avoid the Same Fate

Wouldn’t it be nice if buying a home were as easy as walking into a store and out with a new smartphone? Unfortunately, it’s hardly so simple. As I’m finding out, getting ready to buy a home requires a ton of preparation (not to mention saving). But as I give this decision a lot of thought, I’m still […]

How Much Is Your Home Worth?

Millions of you want to know the answer to one seemingly simple question: How much is my home worth? Sadly, in many cases, the only simple answer is “much less than you paid for it.” (Go ahead, you can share your story in the comments. This should get ugly quick.) But just how much have […]

Buying a Short Sale: Is It Worth It? (And Does It Really Take Six Months?)

Many U.S. real estate markets are flooded with short sales and, according to the National Association of Realtors, that number is only expected to increase in the near future. So if you’re in the market for a new home, there’s a good possibility that you’ll fall in love with a home that’s listed as a […]