A mortgage with no down payment seems a little bit like scoring a buy-a-home lottery ticket. You get a home loan and keep more money in your pocket. What could be wrong with that? Well, there are some downsides. And zero down home loans come and go — except for two perennial government programs. Ups…
Fixed-rate mortgages are the chicken soup of home loans. In an uncertain world, they stand out for their comforting reliability. Today, a fixed-rate mortgage is nearly every borrower’s choice. In July 2017, 87% of mortgage purchase applications were for 30-year, fixed-rate loans, and 94% of all mortgage purchase applications were for fixed-rate loans, according to…
Title insurance: It’s another one of those mysterious fees buried inside the pile of paperwork you’ll receive at your loan closing. Who knows what it’s all about? All you’ve figured out is that lenders require a policy for their protection, and either you or the seller will have to pay for it — and then you’ll…
A home purchase brings together so many things under one roof: dreams, shelter, status, maybe a passport to better schools and neighborhoods. And one more thing: It gives you a forced savings account. It does that by letting you build home equity, which is the difference between your home’s market value and what you owe on…
It is often said that homeownership builds wealth. So, what is home equity, and how can it enhance your net worth? What is home equity? Building home equity is a bit like investing in a long-term instrument, like bonds. Your money is, for the most part, locked up and not spendable. There are some ways…
Celebrities are known for having extremely nice, unique homes, but these celebs certainly own homes that are truly top-of-the-line. Take a look and decide which is your favorite! Akon (Singer) Akon’s Atlanta home is a sight to behold. Featuring both an indoor and outdoor swimming pool, a tennis court and a couple of guest houses,…
Real estate can be confusing at first, largely due to the many different terms and phrases you have to know and understand. To make it a little easier to grasp, here’s a simple explanation of five common real estate terms. Pre-Approval Letter A pre-approval letter is a statement from the bank that basically estimates how much…
The kitchen is one of the most important rooms in a house, and your kitchen’s design can say a lot about you and the rest of your house. If you’re looking for an update, here are a few up-and-coming trends for the design of your kitchen. Dark Floors If your walls or cabinets in your kitchen are…
When you’re looking for a home, the right neighborhood is one of the most important factors to consider. Here are five things that make for a great neighborhood. Schools This one seems pretty obvious, but it bears repeating. Good schools are essential to a good neighborhood. Quality schools ensure that families will continue wanting to…
Moving is tough for everyone. Organizing, packing, and leaving behind familiarity can be exhausting and overwhelming. Here’s a list of five things you should do before moving to help make your move a little bit smoother. Leave Clutter Behind Moving can be a great opportunity to clear out some of your clutter and get rid…
