- How to Refinance a Home Equity Loan
Taking out a home equity loan could make sense if you need cash for home improvements, repairs or other expenses. You might be wondering if you can refinance home equity loan debt to get a lower interest rate or change… read more…
- How to Sell Your House in 10 Steps
Selling your home is a process rather than a single event and the journey proceeds in stages. It starts with deciding when to sell and ends with cashing the check for the net proceeds, the many tasks required to sell… read more…
- How to Remove FHA Mortgage Insurance
Many first-time homebuyers will discover that they have to pay for something called “mortgage insurance.” This adds to your monthly mortgage payment and is often an unpleasant surprise. That’s particularly true if you sought out an FHA loan, which are structured… 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…
- What Is a Mortgage APR?
When you’re buying a home, a lot of pieces have to fall into place. You may come across unfamiliar terms, like escrow and title insurance. One such term is mortgage APR or annual percentage rate. Knowing how to get a… read more…
- How Much Does It Cost to Sell a House?
Selling your house is a major financial transaction. Whether you’re downsizing, upgrading or moving for another reason, you need to know what to expect. After all, you want to get the most you can out of your investment, and part… 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…
- Determining How Much You Should Charge for Rent
Renting out your house might be worth considering, especially if you’re ready to relocate and you’re opposed to selling. Picking up a tenant could help you pay off your mortgage more quickly. Then, you could put the money you’ve earned toward… read more…
- Using Your 401(k) to Pay Off Your Mortgage
The government offers several incentives for retirement accounts like 401(k)s. For instance, they’re a tax-deferred investment, meaning you won’t pay taxes on them until you withdraw. 401(k) deposits also don’t count as taxable income during the year that you make them,… read more…
- Reverse Mortgage vs. HELOC vs. Home Equity Loan
In basic terms, home equity is the percentage of your home’s overall value that you personally own. So if you owe money on a mortgage, that part isn’t included in your equity. There are multiple ways to tap into home… read more…
- Alternatives to a Reverse Mortgage
A reverse mortgage can provide you with a steady stream of income in retirement. Reverse mortgages do have risks and they can affect your ability to pass on assets to your heirs later. Fortunately, there’s more than one alternative to… read more…
- How to Use a HELOC for a Down Payment
A homeowner who has equity in a primary residence may be able to use a home equity line of credit (HELOC) to make the down payment on a second home. The amount of equity limits the amount of money a… read more…
- Is a House an Investment?
It can be a complicated decision to determine if you should rent or buy a home. And if you’re leaning toward buying, high housing prices and high mortgage rates are likely making that decision even more difficult. Current economic conditions… read more…
- What Is the 28/36 Rule in Mortgages?
The 28/36 rule is a rule of thumb for managing your finances and a valuable tool in determining how much house you can afford. The rule says that you should dedicate no more than 28% of your pretax, or gross,… read more…
- Loan Modification vs. Refinance
A low interest rate environment coupled with the effects of the volatile rate environment in recent years has caused Americans who own homes to consider changing the terms of their mortgages. Their existing loans may have carried higher interest rates,… read more…
- Should I Pay Off My Mortgage Early?
Whether you experience a sudden financial windfall or just find yourself with leftover cash in your budget each month, you might be wondering what to do with those extra funds. One option is to contribute more money toward the loan… read more…
- What to Know About Divorce and Your Mortgage
Getting divorced means determining who’s entitled to assets from the marriage, which for many couples includes a home. You’ll need to decide who gets the home, which can also mean determining who’s responsible for the mortgage. There are different options… read more…
- Reverse Mortgage Scams to Watch Out For
A reverse mortgage can provide older homeowners with an additional stream of income in retirement. Reverse mortgages allow eligible homeowners to tap into their equity, without taking a traditional home equity loan. But are reverse mortgages a scam? No, but… 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…
- 9 Best Books for Beginner Real Estate Investors
The saying “knowledge is power” is especially true when it comes to investing in real estate. The world of real estate has its own risks and it pays to be educated before stepping in. Taking the initiative and teaching yourself… read more…
- BRRRR Method: Buy, Rehab, Rent, Refinance, Repeat
The BRRRR Method aims to help real estate investors grow their portfolio with just one property. BRRRR stands for Buy, Rehab, Rent, Refinance, Repeat. It can be an effective investment strategy, if you have the expertise. But BRRRR isn’t for… read more…
- How the No-Closing-Cost Refinance Works
When you buy a home or refinance your mortgage, closing costs can run thousands of dollars. However, there is a way to eliminate the out-of-pocket cost when getting a new mortgage. With a no-closing-cost refinance, your interest rate increases by… read more…
- Fixed vs. Adjustable Rate Mortgages
Buying a home is one of the most important purchases a person makes in their lifetime. And therefore, it’s paramount that the mortgage one attains is the right type of loan for their financial needs. When deciding on a mortgage… read more…
- What Is a Co-Op and How Does It Work?
A co-op, or cooperative, is a housing arrangement in which residents of a building with multiple apartment-style units own the building jointly. Residents don’t actually own the specific individual unit where each resides but, instead, they own shares in a… read more…