Gift-giving season is upon us — and did you know that you can potentially use gift money to help cover your down payment? You most certainly can. However, there are some limitations and a few bases you’ll need to cover so your gift money is properly accounted for. Here are a few things to know: […]
Building your home from the ground up can be extremely rewarding. You get to have a lot more control over your property’s design and construction, and starting from scratch can be an adventurous passion project. But how can you finance both the property purchase and construction? Do you need one loan for the land and […]
When you decide to retire, you’ll need to determine how much money it will take to live comfortably and remain financially sound. Social Security and retirement investments such as a 401(k) or IRA can help, but there may be times when you need more income. One often overlooked source of income is your home equity. What Is Home Equity? Home equity is […]
Knowing whether the price is right for a property you’re interested in is vital to avoid problems further down the road. It can be easy to miss though, especially in a hot market. With stiff competition, an overpriced listing can still get plenty of bids as if nothing is amiss — the downsides of overpaying […]
Mortgage rates have risen since the beginning of the year. As home prices still remain high and economic uncertainty creeps in, you might be considering pausing your home search. Is that the right move, though? The truth is, no homebuying journey is the same — and that’s exactly why the potential costs and savings of […]
You don’t need two incomes to buy a house. It’s becoming quite common (and necessary in some cases) to buy property with a single income these days. Whether you’re buying your first property on your own or buying a family home with one income for the household, your financial situation shouldn’t hold you back from […]
Buying a house can be challenging, but the work doesn’t stop once you sign those closing papers. As a new homeowner, there are a number of tasks you’ll want to prioritize to ensure your home is safe, secure and primed for success before moving in. Here are seven tasks to put on your post-closing to-do […]
You’ve spent years handing over your hard-earned cash to a landlord. But what do you really have to show for it? Life as a renter can be frustrating, as well as expensive. But is the huge financial commitment of homeownership actually a viable alternative to renting? You may be surprised to know that the answer […]
Adjustable-rate mortgages (ARMs) are a hot topic for a reason: Not only can they help borrowers avoid committing to higher interest rates, but initial rates for ARMs have also remained lower than fixed-rate mortgages. For example, these were the average rates in late May: 30-year fixed-rate mortgage: 5.1% 5/1 ARM: 4.2% Seems like a no-brainer, […]
There’s nothing like walking into a house and realizing it’s the one — your dream home! But before you go house hunting, you should get preapproved for a loan that’s just as perfect for you. Making sense of the financial language might initially seem intimidating, but it’s the first step to living that dream. Get […]
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