WHAT KINDS OF MORTGAGES ARE AVAILABLE?

WHAT KINDS OF MORTGAGES ARE AVAILABLE?

Once you have signed a contract for the purchase of your new home (or condominium or cooperative apartment), and assuming that you do not have all of the cash in your bank account, you will need to obtain a mortgage loan. There are many different loans on the market — and many different loan programs from which to choose. You should contact at least three different lenders, and ask them to give you a list of the loans which they can offer … [Read more...]

Rent vs. Buy: Either Way You’re Paying A Mortgage

Rent vs. Buy: Either Way You’re Paying A Mortgage

There are some people that have not purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage - either your mortgage or your landlord’s. As The Joint Center for Housing Studies at Harvard University explains: “Households must consume housing whether they own or rent. Not even accounting for more … [Read more...]

Millennials: What FICO Score is Needed to Buy a Home?

Millennials: What FICO Score is Needed to Buy a Home?

In a recent article by the Wharton School of Business at the University of Pennsylvania, it was revealed that some Millennials are not looking to purchase a home simply because they don’t believe they can qualify for a mortgage. The article quoted Jessica Lautz, the National Association of Realtors’ Managing Director of Survey Research, as saying that there is a significant population that does not think they will be approved for a … [Read more...]

Equity Matters A LOT… Just Ask Freddie Mac

Equity Matters A LOT… Just Ask Freddie Mac

There are many reasons, both financial and non-financial, that homeownership remains an important part of the American Dream. One of the biggest reasons is the fact that it helps build family wealth. Recently, Freddie Mac wrote about the power of home equity. They explained: “In the simplest terms, equity is the difference between how much your home is worth and how much you owe on your mortgage. You build equity by paying down your mortgage … [Read more...]

CONTRACT-FREE HOME TECH WORTH THE MONEY

CONTRACT-FREE HOME TECH WORTH THE MONEY

It may be difficult to save money when tempted by the endless technology, apps, services and gadgets saturating the marketplace. Fortunately, many choices don't require a monthly contract and can be purchased outright without any ongoing fees other than the use of your Wi-Fi signal. Here are some impressive contract-free technology choices that are worth the investment and help you save in the long run. Home Security Cameras According to an … [Read more...]

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