203 Results for author: RateMarketplace

How To Conquer the Challenge of Saving For A Down Payment

Do you dream of buying a home but find yourself feeling defeated by the struggle to save enough for a down payment? If so, you’re not alone. Under current economic conditions, the days of a 20 percent down payment are long gone, and many Americans struggle to save even 5 percent of their dream home’s purchase price. Many ... More

The ‘Short Sale’ Explained

If you’re searching for your next home and have come across listings for “short sale” properties, you may be wondering what that means. In layman’s terms, when a seller’s debt on a home surpasses the property’s market value, they may choose to avoid foreclosure by selling their home as a short sale. This requires ... More

Can’t Qualify For a Mortgage Loan Yet? Try Rent-to-Own

If you’d like to buy a home, but your credit doesn’t qualify you for a traditional mortgage loan, you may want to consider a rent-to-own arrangement. Renting-to-own allows a prospective buyer to live in a home and pay rent during a lease term, after which time the renter has the exclusive first option to purchase the home. ... More

Is an Investment Property Right For You?

For the right kind of buyer, an investment property can pose an excellent opportunity to earn rental income, especially since property values have been rising steadily since 2007 and are expected to continue in the short-term. However, the rental game isn’t right for everyone. You’ll want to take into account the following ... More

Buying a House Should Represent A Five-Year Commitment

When consumers consider the commitment of buying a home, it’s the financial side of the equation that usually gets the most attention. After all, buying a house is likely the largest single financial transaction you’ll make in your lifetime. However, there’s another important consideration, too, and that’s the time ... More

First-Time Buyer’s Guide to Success

Deciding to purchase your first home is a giant leap forward toward finding the property of your dreams. However, you’ll also need to take some less-exciting, but totally necessary steps, before you pack up and call the moving company. The below steps will help guide a first-time buyer to success by providing a useful ... More

What To Expect At Your Initial Meeting With A Mortgage Lender

You’ve finally decided to take the plunge into homeownership, and you’ve scheduled a meeting with a mortgage lender you trust. Naturally, you want to be prepared to provide a host of financial information, including your income, personal debts and savings. However, you’ll be asked a few questions that may take you by ... More

Rent-To-Own Can Ease Buyer Anxiety

The thought of your first home purchase can easily bring on anxiety about the responsibilities, financial and otherwise. In fact, many first-time prospective buyers struggle with making the commitment. After all, a home is likely the most meaningful – and most expensive – purchase you’ll ever make, so it’s natural to ... More

What Trump’s Executive Action On Mortgage Premiums Means for Consumers

On his first day in office, President Donald J. Trump blocked an Obama administration rule that would have lowered mortgage costs for millions of homebuyers. In fact, during the first hour he was in office, the Department of Housing and Urban Development (HUD) sent a mass communication to mortgage lenders, real estate agents ... More

Private Mortgage Insurance Explained

When you’re planning to purchase a home, there are plenty of fees and monthly payments to put a dent in your budget. One common fee is Private Mortgage Insurance, commonly called PMI, and it catches many buyers unawares. If you’re a buyer taking out a conventional mortgage loan and making a down payment of less than 20 ... More