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...]
So, You Want a Mortgage? What You’ll Need to Get Approved Fast
August 15, 2012 by
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, … [Read more...]
The Consequences of Walking Away From a Mortgage
May 11, 2012 by
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 … [Read more...]
How To Get A Mortgage For A Rental Property
March 14, 2012 by
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...]
Condo Financing is Different
April 27, 2011 by
Are you considering getting a mortgage to buy a condo? Read this first. As a Realtor, I know that condos are popular among first-time home buyers. After all, the average condo costs less than the average single-family home. (In March 2011, the … [Read more...]
Mortgage Underwater? Here Are Your Options
March 18, 2011 by
So, was 2005 the year that you dove in and bought your first house? How much do you wish you had had a crystal ball back then? Don’t be too hard on yourself: NOBODY had the ability to see the future and nobody knew just how bad the housing … [Read more...]
Four Ways to Save $50,000 or More On Your Mortgage
January 11, 2011 by
Note from David: When I got serious about financial improvement, I knew I wasn’t going to be able to totally eliminate dining out, Starbucks, and other indulgences like every personal finance book told me to. (Some people can; I just liked them too … [Read more...]
The Real Truth About Loan Modifications
November 9, 2010 by
Loan modification is a hot topic these days. Millions of home owners are currently struggling to make their mortgage payments, and many owe more than their homes are worth. If you find yourself in this situation, your options aren't great. … [Read more...]
