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...
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...
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...
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...
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...
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...
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...
So you want to buy a home but don't have a lot of money for a down payment. Or, perhaps your credit score is less than stellar. Maybe it's both. Any interested home buyer who's in this situation will want to consider the FHA loan. This government-backed loan, through...
Anyone who's self-employed and looking to become a homeowner faces an uphill battle. Just over a decade ago, it was much easier thanks to stated income loans. These allowed anyone with a social security number and average credit score to secure a loan. There was no...
So after a lot of time thinking it through, you're finally ready to commit to becoming a homeowner. Congratulations! You've got a lot to look forward to, but now you also have a lot of work ahead of you. One of the most confusing aspects of buying a home, especially...
The home buying process has a lot of steps to it and one of the most confusing for buyers will be the mortgage process. But if you need a loan to buy your dream home then it's essential that you understand every step of the way. In your research, you'll likely have...
When buying a home, it's important that you factor in all costs when determining your budget. One important category of expenses you shouldn't overlook is closing costs. These are the fees you'll pay to facilitate the transaction on closing day. The closing day is the...