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Buying A Second Home As A First Home: What To Know

Many first-time homebuyers are having a difficult time finding the right purchase. Therefore, a new trend is catching on. Some people are renting in the city, where property values are more expensive. Then, they buy a vacation home in the suburbs. Is it smart to buy a second home as a first home?

Does Shopping Around for A Mortgage Pre-Approval Hurt Your Credit Rating?

Smart homebuyers know that mortgage rates and terms can vary widely among lenders. While your credit score and history will influence what rates and terms you’re offered, there’s a wide range of flexibility, which means shopping around for a pre-approval makes sense. At the same time, it’s important to minimize credit inquiries to protect your credit rating.

How Long To Save Mortgage Documents

Purchasing a house involves a tremendous amount of paperwork. There is even more paperwork involved if the buyer goes through a lender. With so much paperwork, some homeowners might be wondering how long they have to keep all of these documents. Ideally, homeowners should keep these documents for the life of the loan, but there are a few other points to consider.

Housing Needs May Change Following Retirement

Life has changed for a lot of people during the past few years. Some people reached retirement age while other people decided to retire early due to other reasons. As the baby boomer generation reaches retirement age, millions more people are going to retire during the next few years. As a result, they might be thinking about moving to make some of their dreams come true. At the same time, retirement might change what people need in a home. What are some of the most important factors retirees need to consider when looking for a home?

An Overview Of A Deed Of Reconveyance

When someone purchases a house, they might have to take out a loan. Because a house is expensive, most people end up with a mortgage. Some people decide to go with a 15-year mortgage while other people decide to go with a 30-year mortgage. Eventually, after all these years, someone might receive a deed of reconveyance. What does this mean, and how does it work?

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