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

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

What Do You Need to Buy a House?: 5 Key Requirements

5 Primary Financial Requirements for Purchasing a Home Getting a home inspection prior to closing can reveal hidden problems with the home. Owning a home gives you freedom, privacy and tax deductions for your property taxes and mortgage interest. According to Habitat for Humanity, the children of homeowners do better in school, have fewer discipline problems and go on to earn more money than... Continue reading

Should You Withdraw Funds from Your 401k to Buy a House?

Access to Funds One circumstance in which a 401(k) loan might benefit you, according to Joseph A. Cannova, a Certified Financial Planner and Certified Public Accountant practicing in Toms River, New Jersey, is if you have bad credit. With a 401(k) loan, there's no credit check because you're borrowing your own money: there's no lender to deem you a bad loan risk or to charge you a higher... Continue reading

Pages