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Understanding ‘PMI’

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 percent of your ... More

Know Your Expense to Income Ratio Before Applying For a Home Loan

As you search for your dream home, one of the most important numbers to keep in mind won’t appear on a real estate listing or your paycheck – it’s your expense to income ratio, and it could make or break your ability to get a mortgage loan. In short, the expense to income ratio the amount you the buyer plan to spend monthly for ... More

Three Reasons To Get a Home Inspection Before Purchasing

As many first-time buyers come to realize, the incremental costs of purchasing a home tick up, up and up some more. The reality is, buying a home is a costly endeavor. It’s no surprise that many prospective buyers look for opportunities to save cash throughout the process, and more than a few consider skipping the home inspection. Although ... More

Don’t Settle For the First Mortgage Loan You’re Offered

Navigating the process of buying a home can be confusing, especially for first-time buyers. That’s why so many consumers go straight to a familiar lender, like their local bank, for a mortgage loan. Although that can simplify the process, it will rarely yield the best loan option. For optimal results, consumers should go “mortgage ... More

Rent-To-Own Precautions You Should Never Skip

When you find your dream home, it’s natural to be anxious to close the deal and sign your name on the dotted line before another interested party comes along. Before you make your rent-to-own contract official, however, experts say you should take these important steps to protect your financial interests. Do a Title Search Ensure the ... More

Getting Mortgage Approval: Your 5-Year Plan

If a home purchase isn’t in your immediate future, you may not be thinking about what it takes to get approved for a mortgage. However, if you know you’d like to become a homeowner in the future, the following tips will help you avoid bumps in the road when the time comes. Address errors in your credit report This is important even ... More

Pay Off Debt and Save For A Down Payment At The Same Time

Many a prospective homeowner has been frustrated by long-term debt that seems to quash any hope of saving enough for a down payment on a home. In fact, among renters who wish they could own a home, debt is cited as the number one roadblock to doing so. Debt payments, especially of the high-interest variety like credit cards, can eat up a ... More

Negotiate With Your Credit Card Company To Avoid Unwanted Fees

With the tremendous competition for cardholders in today’s credit card market, card companies are going to the mat to acquire new members – and to keep current ones. They often offer a slew of perks, from cash-back to free travel insurance – but many still come with fees that consumers prefer not to pay. One such charge is the annual ... More

Home Sales Expected To Rise Exponentially in 2017-2018

The dearth of home sales over the past decade has seen a sharp reversal so far in 2017, and experts are predicting that the trend will continue at an even higher rate in 2018. The past six months have brought rising prices and bidding wars – and even home shortages in popular areas – but overall sales are already up 3.5 percent from this ... More

These Mortgage Loans May Not Be In Your Best Interest

With so many home loan instruments available to prospective buyers, it can be daunting to navigate the advantages and disadvantages of each. While every buyer’s situation is unique, it’s important to know that some types of loans are inherently riskier than others. For the majority of homeowners, it is usually best to avoid the following ... More