With real estate becoming more affordable, new homes being sold in a range of prices and the cost of rent going up, there has never been a better time to consider buying a starter home.
When you initially start shopping for a home mortgage, you may be drawn to advertisements for ultra-low interest rates. These may be rates that seem too good to be true, and you may gladly contact the lender or mortgage company to complete your loan application. However, in many cases, mortgage applicants are unpleasantly surprised and even disheartened to learn that they do not qualify for the advertised interest rate. By learning more about the factors that influence your interest rate, you may be able to structure your loan in a more advantageous way.
Last week's economic news included reports on retail sales, inflation, and weekly reports on mortgage rates and new jobless claims.
While a second home can seem like a great purchase and solid investment opportunity, there are different requirements that go into this type of purchase. If you're considering a vacation home, you may want to be aware of the following financial factors.
If you're just getting into the real estate market, you may have heard that 20% down is the ideal percentage in order to lower your monthly payments and get your mortgage application approved. However, while 20% is often suggested, many people struggle to come up with this amount of money.
House, land and foreclosure auctions can be one of the most nerve-wracking ways to buy a property. However, if you prepare yourself with proven bidding tactics, auctions can be a great way to purchase your dream home at a competitive price.