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How Much House Can You Afford?

We first published "How Much House Can You Afford", but we've been getting a lot of questions about the subject recently. In fact, we've also been getting a lot of people asking why they haven't been approved for a mortgage. In many cases, we simply … [Read more...]

15-Year Mortgage vs 30-Year Mortgages

The home buying process is full of decisions, even before you start looking at houses. Who should your agent be? Who should your lender be? What type of loan should you get? Though figuring out the answers to so many questions can at times be … [Read more...]

How to Pay Off Private Mortgage Insurance (PMI) and Save $200 a Month

I recently paid off the private mortgage insurance (PMI) on my mortgage. For me, that’s a savings of just under $200 a month ... which is substantial. Private mortgage insurance is a monthly expense tacked onto mortgages for home purchases in wh … [Read more...]

Our Credit Isn’t Perfect; How Can We Prepare to Get Home Financing?

Q: I’m 27 and recently got married. My husband and I are ready to buy a home. We have enough saved for a down payment, but his credit isn’t great because of a couple of credit cards he didn’t pay about four years ago, and we’re nervous about getting a … [Read more...]

What Percentage of Income Can You Afford for Mortgage Payments?

This question often comes up among first-time home buyers: What percentage of my monthly income can I afford to spend on my mortgage payment? Does that percentage include property taxes? Private mortgage insurance (PMI) or homeowners … [Read more...]

What Your Mortgage Interest Rate Really Means

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 … [Read more...]

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

Q. My wife (28) and I (27) just got married and we are hoping to buy a small starter house sometime in the next three years. We’ve discussed finances [a lot] so we feel ahead of the curve there. I make $65,000 a year as an engineer and she makes $ … [Read more...]

So, You Want a Mortgage? What You’ll Need to Get Approved Fast

There’s no question, it’s a good time to get a mortgage. Average rates on 30-year fixed-rate loans are around or under 3.5 percent, according to BankRate.com. Although a couple years ago when 30-year mortgage rates were around 4 or 5 percent, we al … [Read more...]

The Consequences of Walking Away From a Mortgage

I hope this post doesn’t apply to you. That is, I hope you’re not in---or at risk of---foreclosure. We all know there are still a lot of foreclosures out there. As a Realtor, it’s especially obvious. Every time I drive to one of my short sale listi … [Read more...]

How To Get A Mortgage For A Rental Property

Editor's Note: Arthur Garcia is a friend of mine and a successful real estate investor. He's previously written for Money Under 30 about buying his first piece of investment real estate and his proven system for picking winning rental properties. His … [Read more...]