Home Loans

Unorthodox Way to Pay Off Loan Early

In order to save some cash over the life of your mortgage, you may consider taking out a bigger loan than you need and making one large, lump-sum payment toward the principal immediately after closing. By doing this, you will

Low Interest Rates Not Good for Selling

When mortgage rates fell below 4 percent in 2011 and dropped to a record low of 3.3 percent in 2012, many people purchased new homes or refinanced their existing homes. Good news at the time, but bad news for the

Budgeting for your Mortgage

When budgeting for your mortgage, consider spending no more than 30 percent of your monthly income on your housing costs. Spending more than that makes for a cost-burdened household, making it difficult to afford other everyday living expenses. According

How Mortgage Is Affected By Social Security

“Social Security is an invaluable benefit to millions of Americans. And what it means for those looking for a mortgage may surprise you. The common myth For years, mortgage giants Fannie Mae and Freddie Mac have allowed Social Security to count as income

How Much First-Time Buyers Should Save

“Singles, couples, families — at some point almost everyone turns their financial attention to buying a home. But how much do we really need to save the first time out? How much is enough to handle the typically steep curve

Considerations For Renting Property

“Many beginner or speculator-type real estate investors think that the crux of real estate investing is finding a distressed property, fixing it up, and selling for top profit. Keeping it as a rental ends up being a mistake, a backup

The Current State Of The Housing Market

“The Dow Jones Industrial Average was down 19 basis points in early afternoon trading on Friday. The movement came at the end of a tough week for investors as the market retreated from all-time highs just in time to kick off earnings

Using Your Home To Avoid Debt

“I have plenty of experience going into debt. I’ve spent over half my life paying down a mortgage. I’ve taken out more than one home equity loan and have made more than my share of car payments. Have I ever

A Reverse Mortgage Could Help In The Long-Run

“Interest has increased in recent years about whether reverse mortgages are a practical way to supplement retirement income. In a reverse mortgage, a lender makes payments to you based on a percentage of your home’s appraised value…” Continue to original

Why You Can Be Patient In Buying A Home

“While 30-year mortgage rates are not quite as low as they were during the first half of 2013, the current average rate of 4.14% is still very low on a historic level. In fact, before the mortgage crisis hit, we

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