It’s hard to afford a house if you’re a first-time buyer. The Biden administration has a plan for that: giving first-timers up to $15,000 to apply toward a down payment. Frustrated would-be homeowners might favor that proposed solution. But it almost surely would drive house prices even higher. The proposed First Down Payment Tax Credit…
Whether you’re having trouble finding an affordable single-family home or you’re simply fed up with renting, a condominium can be a way to wade into homeownership rather than diving into the deep end. Condos tend to come with lower price tags than single-family homes. They offer significantly greater independence than renting, but you aren’t on…
When Philip Weiss, a systems engineer in New Jersey, saw the rustic house on a four-acre lot in the Poconos, it was love at first sight. He was preapproved for a mortgage, placed an offer on the home and the seller accepted. Nearly one month later, the unexpected happened. Weiss says despite having a 700+ credit…
A do-it-yourself approach for home improvement projects may reduce your initial costs — but for certain jobs, the risks far outweigh any potential savings. If any of these projects are on your to-do list, call in the pros unless you’ve got plenty of related experience. 1. Roof replacement Roofing is extremely hard and dangerous work….
Unexpected delays can quickly turn a fun home remodeling project into stressful misery. But you’ve got more power than you think to keep your project on schedule — and it all comes down to what you do before a single nail is hammered. These six proactive tips will help you avoid remodel problems so your project runs…
Backsplashes have come a long way from their humble beginnings. Once installed only to protect walls from water, grease and food splatter, the original backsplashes were just four inches high and had little decorative appeal. Today’s backsplashes are essential kitchen accents, adding vibrant pops of color, light and texture — in addition to protecting walls…
If you’ve served in the military, a mortgage backed by the U.S. Department of Veterans Affairs may be your ticket to home ownership. VA loans don’t require a minimum down payment or mortgage insurance, and they often have lower interest rates than other mortgages. But applying for and using a VA loan involves steps other mortgages don’t,…
Is using your kitchen table as an office-slash-kids’-classroom making you long to upgrade your home? You’re not alone. Sixty-one percent of American homeowners have taken on home improvement projects since March 1, 2020, according to NerdWallet’s 2020 Home Improvement Report. But before you can join them, you’ll have to decide how to finance your project. Refinancing…
Getting approved for a mortgage is never easy. Even with great credit and a big down payment, the process can be cumbersome. In 2020, the process has become even more difficult. Lenders have tightened standards in response to the economic uncertainty during the coronavirus pandemic. Borrowers, hoping to buy a home while interest rates are…
When budget matters, do-it-yourself bathroom upgrades can be a simple, low-cost way to dramatically improve your bathroom’s appeal. Here are six projects that you can do on your own without hiring a contractor or buying expensive equipment. 1. Install a plug-in towel warmer Cost: About $60 (basic) to $700 (high-end). Difficulty: Moderate. A fluffy warm towel after showering…
