As a homeowner (or soon-to-be homeowner), you most likely hear this phrase a lot, “Build up that home equity!” But why build it up in the first place? Home equity is an important financial resource for you that you can take advantage of at a later date. Home equity is the amount of the home’s […]
Having a pet can be a rewarding experience; you get a friend and companion that can help not only your physical health, but your mental health. Unfortunately, as much as you love your companion, others may not feel quite the same way—especially when it comes to purchasing your home. As a pet owner who is […]
Are you self-employed and looking to get a mortgage? You may have heard that getting a mortgage when self-employed is more difficult than those who receive a W-2 since you are considered higher risk. But don’t let that discourage you! With the right financial planning, documents, and time you can get the mortgage you need […]
Making the decision to purchase your own home is a huge choice that should not be taken lightly. There is a lot of budgeting and other preparations you need to undergo to understand how much you can afford to borrow. If you find that you have less than perfect credit or not enough income, consider […]
Many homeowners find themselves falling behind on their monthly mortgage payments and may find themselves foreclosing on their home. When it comes time to buy a home again, you will be considered what is known as a boomerang buyer.
When applying for a home loan, you will hear the term “debt-to-income ratio” and why you need to know yours. Debt-to-income ratio is the total amount of money you owe per month to the total you earn, shown as a percentage, and is essential to understanding your financial health.
Owning a home is a huge financial responsibility. If you are not prepared for it, you could face financial hardships, fall behind on your monthly mortgage payments, and even foreclose on your home. Here is what you can do to help you prepare a homeownership budget.
Emergencies happen when you least expect them. Perhaps you need plumbing repair or a tree landed on your roof during a storm. Whatever the case may be, have you given any thought to how you will cover these costs? As a homeowner, when you create your homeownership budget, you should factor repairs and emergencies into […]
When you put your home up for sale, your real estate agent will list it on the Multiple Listing Service (MLS) and he or she has exclusive rights to advertise and attempt to sell your property for a given amount of time. At that point, your listing is Active. When your home becomes withdrawn from […]
Before you purchase a home, it is essential to do your research. After all, you want to know as much information about the home as possible to ensure that it is safe and won’t throw any unpleasant surprises at you. This includes professional home inspections and checking a home’s public records. Thankfully, many of the […]