Buying a home is a huge milestone, and the excitement of closing can lead many buyers to quickly accept any mortgage offer without fully understanding its terms. One important detail to watch for is whether your mortgage includes a prepayment penalty. This fee can be an unwelcome surprise, so it’s crucial to know what you’re signing up for before finalizing your loan.
When you’re buying a home, one important component of the real estate contract is the appraisal contingency. This clause protects the buyer in case the property’s appraisal comes in lower than the agreed-upon sale price.
Many millennials are expected to enter the housing market in the next year with the interest rates still low. However, while it may be a good time, it does not necessarily mean that it’s the right time for you to make the investment. If you’re currently weighing your options when it comes to home ownership, here are some things to consider before you decide put the money down.
Are you the type of person that struggles with remembering to pay their bills on time? You’re not alone. People across the country regularly submit late monthly payments, inflicting terrible damage to their credit. Let’s take a quick look at how paying your monthly payments late can have a negative impact on your mortgage.
There are not a lot of parts of your life that are private anymore. Today, it is relatively easy for someone to go online and look up your address in just a few minutes.
Outside of the significant financial responsibility of delving into home ownership, there can also be a lot of other risks involved that you may not have thought about as a new homeowner. While the requirement of homeowner’s insurance is well known and guarding your house against theft can be commonplace, if you happen to be living in an area that’s at high risk of fire, here are some things to consider beforehand.
Ask any friend or family member that owns a home and they will share that it takes a bit of management to keep all the expenses under control. Let’s explore the concept of PITI and why it is vital to have a clear picture of how much your home is costing you each month.
If you are looking for a way to diversify your investment portfolio, there are different options available. One option is to invest in real estate. With so many different choices, how can you select the right one for your needs? There are a few key points to keep in mind.
Are you starting to tire of paying your monthly rent to someone and never building any equity? Renting forever can be a significant pain, especially as you’re contributing to someone else’s financial well-being. The good news is that there are affordable real estate options out there for those investing in their first home. Below we will share a few excellent reasons why an apartment or condo might be the best choice for a first-time home buyer.
Whether the kids have moved out or you just aren’t using the extra bedrooms, having a house that feels ‘too big’ is rarely fun. In today’s post, we will share a few changes you can expect when you downsize from a large house to a smaller apartment or condo.
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