Are you listing your home for sale? If so, it is time to get ready to meet with buyers and their real estate agents. And while you surely want to sell your home as quickly as possible, you will also want to do your homework to make sure you're selling to the right person. Let's explore the process of buyer qualification and why it's important to do a little digging into potential buyers of your home. Is Your Buyer Pre-Approved For Mortgage Financing? First, you'll want to check with your buyer to see if they are approved for mortgage financing. The last thing you want is to agree to an offer … [Read More...]
When you take out a home loan, you might have the option to purchase mortgage points. Essentially, this is money that you pay to the lender upfront in exchange for getting a lower interest rate over the life of the loan. If you got a great deal on the house, you might have some extra cash on hand. Should you use that money to buy down the interest rate? This is a math problem that you need to calculate for yourself. How To Do The Math If you want to figure out if the mortgage points are worth it, you need to do some math. For example, you may need to pay an extra $3,000 at closing to qualify … [Read More...]
Is it time to move on from your house, townhouse or condo? If a sale is in your near future, you will want to start looking for a professional selling agent or broker to help manage the process. Let's take a look at our quick and easy guide to finding the best real estate agent to handle your home sale. Check Your Social Network The easiest place to start is your social network, as almost everyone knows a great real estate agent. Get a post up on Facebook sharing that you are about to sell your home and you're looking for the very best agent to help you sell it. Maybe an old high school … [Read More...]
Last week’s economic reporting included readings on inflation, retail sales, and consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released. Consumer Inflation Rate Falls as Gas Prices Decrease Lower gas prices was welcomed news to consumers last week, but analysts said that high inflation would continue to impact consumer goods including groceries. The core inflation rate, which excludes volatile food and fuel prices, rose by 0.60 percent, which was twice the expected month-to-month pace of 0.30 percent. Rapidly rising inflation could cause the … [Read More...]
Buying a home is a dream that many people want to make come true. At the same time, many people dream of buying a second home. Perhaps you are looking for a rental property. Maybe you are looking for a vacation home. Regardless, you might be wondering how you can come up with the necessary cash to finance this dream. You might even be thinking about tapping into the equity in your current home to make that happen. It could be your down payment for your second house, but what do you need to know? How To Get A Home Equity Loan If you want to take out a home equity loan for a second house, … [Read More...]
In these days of low interest rates, it can be a great idea to get into the real estate market and invest in a home. However, if you don't have the funds saved up to buy a home outright, it may seem like more of a burden than it's worth. The good news is that you might qualify for a mortgage loan, which tends to come with more favorable terms than a traditional bank loan. Here are three reasons why a mortgage might just be the best money you ever borrow.
Taking Advantage Of Low Interest
Interest rates have been relatively low for a number of years, which can be a definite financial boon when … [Read More...]