Paying off your mortgage early can come with a host of benefits. You can free up money for travel or retirement, tackle other debts, or even financially protect yourself from losing your home. However, achieving these can be difficult without the proper planning or budgeting. Alternative options to quickly paying off your mortgage can be … Continue reading Should You Make Bi-Weekly Mortgage Payments?
As opposed to a move-in ready, entry-level home, a fixer-upper may be a lower-priced, established house that requires some repairs. While fixer-upper homes can be a home-buying solution to those with a limited budget, there are also renovation expenses to consider. Fortunately, certain loan options can help cover the cost of common home improvements such … Continue reading Your Loan Options When Buying a Fixer-Upper
There are numerous mortgage loan programs available in which you can make a minimal down payment (sometimes as low as zero), but making a larger down payment when purchasing a home has intrinsic benefits that can help a potential homeowner save money in the long run. While offering more money upfront will clearly reduce the … Continue reading Advantages of a Large Down Payment
The Freddie Mac’s CHOICERenovation Loan is a great solution for potential homeowners who are looking to buy a property that they must repair and renovate. Potential homeowners looking at “fixer-uppers” can really benefit from this loan that allows them to roll in the costs of renovations into their new mortgage. This saves time and money … Continue reading The Benefits of Freddie Mac’s CHOICERenovation Loan
Like insurance, property taxes are often a forgotten part of a mortgage payment. Property taxes can go up as time goes on as the value of your home rises. Therefore, considering this aspect of your mortgage payment before you buy can help save you money and frustration when choosing your new dream home. How Are … Continue reading Factoring Property Taxes Into Your Mortgage
If you’re a first-time homebuyer, applying for a mortgage may seem overwhelming, or at the very least, foreign to you—especially when there are so many terms and conditions. For instance, many borrowers are confused about what it means to be preapproved for a mortgage as opposed to being prequalified. If you can relate, rest assured … Continue reading The Difference of Being Preapproved vs. Prequalified for a Mortgage
While declaring bankruptcy can negatively impact your credit score in the short term, you may still qualify for a mortgage loan. However, it will take some time and effort. How long a bankruptcy keeps showing up on your credit report depends on the type of bankruptcy filed. Chapter 7 bankruptcies remain on credit reports for … Continue reading Can I Get a Mortgage After Bankruptcy?
Everyone has a different idea of what their ideal home looks like, but finding the best deal is something that any potential homebuyer can agree with. If you’re on the hunt for a great property price with some added bargaining power, check out our top reasons to buy during the fall. End-of-Year Incentives During the … Continue reading Is Fall a Good Time to Buy a Home?
According to a recent Freddie Mac report, Orlando is the fifth most rent-burdened metro area in the United States. As cities throughout Central Florida share drastic rises in rent, tenants are questioning whether they should renew their leases or jump into homeownership. If you’re contemplating an upgrade from a lease to a home loan, … Continue reading Why Rising Rent Prices Means It Is Time to Buy
Taking a different route to the traditional payday isn’t easy, but it can be incredibly rewarding. If you’re ready to take on the role of landlord or want to start flipping the fixer-uppers in your city, here are the top things to consider when buying an investment property. Steady Income Investment property income isn’t the … Continue reading Things to Consider When Buying an Investment Property
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