Making the decision to become a first time home buyer is complex, or if your looking to purchase your next house, sometimes it’s hard to know where to start. A good first step is answering the question: How much house can I afford?
Buying a home is a big part of the American dream and one of the most important decisions, and major investments, anyone can make. Many on-the-fence heroes are wondering: “Should I buy a house in 2018, wait until next year, or simply continue renting?”
Are you ready to buy a home and you want to make sure that you get a terrific mortgage rate?
Buying a home is one of the most significant financial investments that you’ll make in life, and it’s essential that your home loan fits your budget and lifestyle. A fantastic mortgage interest rate is one that meets your budget requirements. Keep reading for advice on how to obtain the best mortgage interest rates on your new home loan.
Buying a home is one of the most significant decisions you can make in life, and it typically helps set you on a course for financial stability.
As you sit in the title office signing an enormous amount of forms, you will inevitably see a paper that lists every payment that will be due over the life of the loan. You will also see exactly how much interest you will pay over the life of the mortgage. These numbers can be very daunting and make you wonder if you’ll ever indeed “own” your home.
What Is PMI?
PMI is private mortgage insurance that you pay as part of your monthly mortgage payment. You only have to pay PMI if you have less than a 20 percent down payment when you purchase your house. If you don’t have a 20 percent down payment, paying the mortgage insurance is what allows a lender to give you a loan. You are paying the extra cost to show you are not at risk of stopping your monthly payments.
If you have decided to buy a new home, congratulations. If you’re researching home loans, lenders, and mortgages, you’ve most likely come across information about both fixed-rate loans and adjustable-rate loans. Once you decide which you want to go with, you can start searching for the houses that fit within your budget. However, what if you get a raise after you purchase the house and can afford to pay more than the monthly fee? Is it a good idea? Wouldn’t it be the best choice to pay off your home earlier than scheduled? Yes, and no. There are definite positives and negatives to paying off your mortgage ahead of time, and we can help you decide.
Have you ever considered buying a HUD house? These homes offer tremendous opportunities to purchase property in an area that might otherwise be too expensive for a buyer.
Read on to learn more about HUD homes and what it takes to buy one.
Are you trying to buy a house in a competitive real estate market? It is not uncommon for multiple buyers to bid on an attractive property and unfortunately, buyers can find themselves losing out on one house after another. The key to successful house hunting in a sizzling market is crafting a stellar purchase offer.
Read on to learn how you can use something called earnest money to make a fantastic impression on a seller.
Are you thinking about buying land? You may find it surprising to learn that there are some significant differences between land loans and mortgage loans. If you were preparing yourself for the process and terms being anything like your home loan, take a moment and read this article.