How Much House Can You Afford To Buy?

How Much House Can You Afford?

Owning a home is part of the American dream – a place of your own where you can raise your kids and your grandchildren can come to visit. Part of that dream might be reaching for the stars to buy the biggest and the best, but your income and budget might make that hard to do. So how much house can you afford? Here are a number of methods that can help you figure it out. Continue reading
Renting Vs Buying: A Regional Guide

Renting vs Buying: A Regional Guide [Infographic]

Buying a house is almost always cheaper than renting. In the U.S., owning is 35% cheaper than renting after seven years, based on a 30-year mortgage with 20% down. Continue reading
What is the real cost of buying a home in America?

The Real Cost of Buying a Home in America [Infographic]

Expereinced homeowners know that the cost of buying a house goes far beyond the list price. Before applying for a mortggage, take a look at the hidden costs we've identified. Continue reading

What Credit Score Is Needed to Buy a House?

Real Estate & Personal Finance: What Is Considered a Good Credit Score for a Mortgage Loan? It's true that when you apply for your mortgage loan, having good credit is better than having bad credit. However, it's also true that while a borrower with 759 credit may pay a higher rate than one with a 760 credit score, another borrower with a 630 score might pay the same rate as one with a 770... Continue reading

Real Estate & Personal Finance: How to Get a Mortgage on a Low Income

Real Estate & Personal Finance: How to Get a Mortgage on a Low Income A low income doesn't prevent you from getting a mortgage. Ultimately, your income determines how much you can borrow instead of whether or not you can borrow. While the more you make the more you can borrow, if your other debts are manageable, you won't need a very high income to buy a comfortable home. Know Your Ratios "... Continue reading

Real Estate & Personal Finance: Can a Mortgage Lien Stop Me From Buying a Second Home?

Real Estate & Personal Finance: Can a Mortgage Lien Stop Me From Buying a Second Home? Buying a home is usually "smart debt" because you're building equity. The more equity you build, the more your personal wealth grows. But if you're thinking about buying a second home, consider whether you're making the right decision by looking at a variety of factors, such as whether you can afford the... Continue reading

How To Buy A House With Little Or No Credit

Even though being debt-free can make you a better credit risk, getting a mortgage when you have little or no credit and don't have a credit score isn't easy. "Mortgage lenders are still conservative," explains Minnesota-based real estate agent Lorraine Smith. "Instead of looking for good risks, many of them are looking for no risks." With this in mind, budgeting to buy a house means that you may... Continue reading

6 Green (and Easy) Ways to Heat Your Home

Heating your home this winter doesn’t have to cost a bundle or make you break your household budget. The six easy tips below can not only help you keep warm for less, but they can also make your home a little greener, too.  Adjust your thermostat. The easiest way to curb heating costs is already at your fingertips. Just adjust your thermostat by turning it down when you’re not home. The U.S.... Continue reading

Buying a House: A Checklist

A Budgeting Checklist for Buying Your First Home When the time comes to buy your first house, there's a lot to think about. Will you plant rose bushes or an apple tree? Should the living room have a red or blue accent wall? Do you really want to hold on to that couch? However, before you can have the fun of landscaping and decorating your first home, you need to figure out how to pay for it.... Continue reading

Real Estate & Personal Finance: Will I Save Money if I Buy a Short-Sale Home?

Why Lenders Agree to Short Sales By definition, a short sale means that the lender isn’t going to get back all the money it loaned for the property's original purchase, because the home is no longer worth that much. If the lender fronted Joe Homebuyer $300,000 to purchase the property and then the economy hit a rough patch, Joe might still owe $275,000 while the home's fair market value has... Continue reading

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