- Cashier’s Check vs. Wire Transfer for Closing on a House
When you’re closing on the purchase of a home, you normally have to pay a large sum of money in the form of either a cashier’s check or a wire transfer. These are two ways of transferring cash without having to carry and hand over any bills. Both are also more secure than personal checks,… read more…
- 2024 Eligibility Requirements for VA Loans
Veterans Affairs (VA) loans provide a pathway for veterans, active-duty service members and reservists to achieve homeownership with favorable terms. VA loans are known for their no down payment requirement and no private mortgage insurance, making them an attractive option for those who have served or continue to serve in the military. However, prospective applicants… read more…
- How a Divorce House Buyout Works
Navigating the financial and emotional complexities of a divorce can be daunting, especially when it comes to deciding the fate of a shared home. A divorce house buyout is an arrangement where one spouse pays the other for their share of the home’s equity. For divorcing spouses, it’s important to understand how this process works,… read more…
- Tips for Negotiating Your House Price
When buying a home, the success of a negotiation will depend on your understanding of the market value, your current financial circumstances and any influence that a property inspection or other supporting documentation could have, among other factors. A successful negotiation could mean saving tens of thousands of dollars in the long term. Here’s a… read more…
- How to Complete a Gift Letter for a Mortgage Down Payment
A gift letter for a mortgage is a document that confirms that a financial gift has been given to a homebuyer by a donor, and it is typically required by mortgage lenders to ensure transparency and compliance with lending regulations. The gift letter serves as a written statement from the donor, verifying that the funds… read more…
- 4 Ways Parents Can Help a Child Buy a Home
The path to homeownership can be daunting, particularly for first-time buyers. If you’re able, you may consider helping your children buy their first homes. From gifting money for a down payment to buying a home and acting as a lender to your child, there are many strategies that parents can consider. Each method carries its… read more…
- What’s the Best Time to Buy a House?
House hunting is serious business. You need to secure a good mortgage and find the right property. Not only is buying a house a huge financial decision, but it can be made more complex by the ups and downs of… read more…
- Is It Cheaper to Build or Buy a House?
Buying a home is a major investment. You want to put your money into a house that’s going to meet the needs of you and your family. However, if that house isn’t available, you may consider building a home. Is… read more…
- How to Buy Land and Build Your Dream House
Many people dream of owning a chunk of land and putting their dream house on it. Maybe you fantasize about pulling out all the stops and designing a home with every feature you’ve ever wanted. Well, to make that dream,… read more…
- Pros and Cons of Buying a House After Age 60
While you might not immediately associate retirement with homeownership, buying a home after age 60 can be thrilling and financially savvy. Instead of looking for highly rated school districts, you can find the ideal combination of comfort, affordability and proximity… read more…
- Despite High Rates, Advisors Say Now May Be a Great Time to Buy a Home
The conventional wisdom suggests that now is a terrible time to buy a home. In September, the average rate for new 30-year mortgages hit 6.29% according to the St. Louis Federal Reserve, almost triple their 2021 low of 2.65%. At… read more…
- How to Choose a Realtor: 7 Things to Consider
Homebuyers face a dizzying array of hoops to jump through, with mortgage pre-approval and hiring a home inspector as just a few examples. However, throughout your search for the home of your dreams, one party will consistently be at your… read more…
- Final Walkthrough Before Closing Checklist
With preapproval, attending showings, committing to a down payment and engaging in bidding wars, buying a home can be arduous. If you have made it to the final walkthrough, congratulations! The final walkthrough is a crucial step where you check the… read more…
- Tips for Winning a House Bidding War
Being a responsible, well-prepared prospective homebuyer is no longer enough to qualify and purchase a home, especially in competitive markets. In the current seller’s market, the buyers need to be swift and savvy to purchase a house. The current low… read more…
- How to Buy a House as an Unmarried Couple
Buying a home is a big step financially and for some people, it’s the largest investment they’ll ever make. If you’re an unmarried couple buying a home together, you’ll still need to go through the usual mortgage process. But there are some unique considerations to keep in mind that may affect your decision to buy. If… read more…
- How Long Does It Take to Close on a House?
As a prospective homebuyer, you may be well acquainted with the pain of making it to closing day. Few things are more frustrating than finding your dream home only to have your loan application gummed up in underwriting because of… read more…
- How to Buy a House That Is Not on the Market
When looking for homes to buy, you might assume your options are limited to properties that are listed for sale publicly. It’s possible, however, to purchase a home that’s not technically on the market. This isn’t necessarily the easiest path… read more…
- House Hunting Guide
House hunting can be a very time-consuming and emotional process but it’s also one of the largest financial decisions most people make. It’s important to avoid potential mistakes that could leave you in a bad financial position for years to… read more…
- Here’s Where Buying a Home Is Actually Getting Easier
Persistent inflation and rising mortgage rates are slowing down home sales. But a new study from the real estate website Zillow says that the housing market in cities could be better than in suburbs for the first time since the… read more…
- How to Save for a Down Payment on a House
Are you planning to purchase a new home? Perusing the internet for new listings and fantasying about your life in a new house is the exciting part. Setting money aside for a down payment, on the other hand, may… read more…
- Condo vs. House: Which Should You Buy?
If you’re one of the many people looking for a new home right now, one of the first questions is this: do you want a house or a condominium? In a nutshell, consider the difference this way: If you like living… read more…
- Condo vs. Apartment: Which Should You Buy?
Buying a condominium means buying an individual unit in a property with public areas owned and managed by a homeowner’s association. Buying an apartment usually means buying a share of ownership in a cooperative association that owns the property and grants proprietary leases allowing shareholders to live in specific units. Condos may be more expensive… read more…
- Where More Young Residents Are Buying Homes – 2021 Study
The homeownership rate in America peaked at a little more than 69% in 2004 before falling to 63.7% in 2016, according to U.S. Census data. Despite the fact that it has rebounded to a little more than 65% in 2019 overall, only 36.4% of Americans younger than 35 own their homes. It may be easier… read more…
- Cheapest States to Buy a Home – 2020 Edition
Owning a home is a major goal for many people across the U.S. Securing a mortgage and buying that home, though, can be difficult to achieve. According to a June 2020 Home Values report from Zillow, the median home value in the U.S. is $248,857, an uptick of 4% over the past year. Though values… read more…
- Where Are Millennials Buying Homes? – 2020 Edition
Census Bureau data from 2018 shows that millennials have a homeownership rate of 33.7%, well below the national average of almost 64%. Though the national rate of millennial homeownership is low, some cities have much higher rates of millennial homeownership that come closer to the national average. In this study, we looked at where millennials are… read more…