Getting a Home Equity Loan: A Complete Guide
In the realm of personal finance, exploring viable options for leveraging one's home equity can be a game-changer. A Home Equity Line of Credit (HELOC) offers homeowners the opportunity to tap into the value of their property and secure a flexible line of credit. This...
Building Generational Wealth through Real Estate: Your Path to Financial Freedom
Real estate has long been seen as a way to build generational wealth, and in today's rapidly changing economic landscape, the pursuit of financial security has become more important than ever. Real estate offers numerous advantages that can help individuals and...
Navigating The Path to Homeownership After Bankruptcy
Bankruptcy can be a challenging and overwhelming experience, but it can also be a fresh start. It may seem like the end of the road for your dreams of homeownership, but that is not necessarily the case. Despite the financial setback, buying a home after...
The Pros and Cons of an Adjustable-Rate Mortgage
When you hear about savings of more than $15,000 over the course of five years with an adjustable-rate mortgage, it's hard to ignore. With that said, before making the decision to borrow with an adjustable-rate mortgage instead of a fixed-rate mortgage, you should...
Illinois First-Time Home Buyer Grants & Loans
Regardless of real estate market conditions, first-time home buyers need to know what loan programs and grants are available to help as they begin the home buying process. If you do your homework, there are many programs and grants available to first time homebuyers...
If you are thinking of buying a house or condo, your credit score matters. A low score can: Cause you to be unable to get a conventional mortgage. Drive up the price of your mortgage, because you are a higher-risk borrower. Sudden changes in your credit score, after...
How to Determine How Much House You Can Afford
A lot goes into deciding on a home to purchase. The neighborhood, school zones, square footage, commuting time, the number of bedrooms/bathrooms are all important things to consider. However, the first crucial decision to make is your budget. It's far too easy to get...
4 Key Mistakes to Avoid When Buying and Selling at the Same Time
Many people find themselves in the situation of having to buy a new home and sell their current one at the same time. Down payments on a new home require a lot of money which is why so many people are compelled to sell before they can buy. But so much can go wrong...
Outdated Mortgage Advice You Should Ignore
Buying a home is a huge life event and taking out a mortgage on it will be one of the scariest parts of it. It's a lot of responsibility to take on and if it's your first time getting a mortgage then, naturally, you'll want some advice from those who've done it...
What is Escrow and Why is it Important as a Home Buyer?
No matter where in the country you're buying, you're sure to encounter escrow at some point in the home transaction. If you're entirely new to buying a home, then buzzwords like this can sound scary at first. But don't worry, it's not as bad as it sounds. Escrow...
What is PMI? Private Mortgage Insurance Explained
Anyone looking to buy a home faces a major obstacle, coming up with that hefty down payment. The standard advice is to have a least 20% of the purchase price saved up, and for good reason. Sure, there are mortgage options that allow you to make a down payment of less...
The Mortgage Contingency Clause: What is it & Why is it a Bad Idea to Waive it?
Buying a home comes with a lot of risks. The process is lengthy and has room for many things to go awry. Thankfully, layers of protection within a contract help eliminate some risks. These layers of security are called contingencies and offer a safety net for...