Articles Tagged ‘mortgage advice’
5 Major Mortgage Mistakes to Avoid
Thursday, May 17th, 2012
Buying a home remains one of the largest financial transactions that anyone will make in their life. We often tend to pay a significant amount of attention to negotiating the best possible home price, but we don’t always pay enough attention to the terms of the mortgage that we get to actually buy the home.
The mortgage process itself can be a little stressful, even under the best of circumstances. In order to make sure that the process goes as smoothly as possible, and that you wind up with the best deal for your budget there are several mistakes that...
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Tags: borrowing advice, mortgage advice, mortgage mistake, mortgages
Posted in Mortgage | No Comments »
Borrowing Advice on How Much House Can You Afford
Thursday, April 5th, 2012
One of the first steps in buying a new home is to figure out your price range. Unless you know how much house you can afford, you won’t know which homes to look at or consider. Because buying a home is such a large transaction, it’s important to have the good idea of what’s an appropriate price range for you.
Calculating home affordability takes into account a number of different factors relating to your personal finances. You’ll need to consider not only your income, but also your other expenses and financial obligations. You also need to consider whether you...
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Tags: afford home, borrowing advice, Credit Score, mortgage advice
Posted in Mortgage | No Comments »
The Importance of Doing a Home Inspection Before You Buy
Tuesday, February 28th, 2012
Buying a new home is an exciting – though sometimes a little overwhelming – process. For a first time home buyer, the transaction is likely to be even more emotionally charged. Owning a home represents a big part of the American dream, and has the potential to provide homeowners with a stable path to financial independence.
Despite the emotional weight of buying a new home, it’s important that you also approach the process with a businesslike demeanor. This means conducting appropriate due diligence into the home to make sure that it’s everything it looks to be. Perhaps the most significant...
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Tags: borrowing advice, home inspection, mortgage advice
Posted in Mortgage | No Comments »
Advice on How to Shop for a Mortgage Online
Friday, December 16th, 2011
In years past, the getting a mortgage to buy a new home would involve going to your local bank and meeting with a loan officer who, chances are, you might have already known personally. Today, there are many other options for getting a home loan, and it’s actually possible to apply for a mortgage online without ever having to visit a bank or meet with a loan officer.
Even though the mortgage application process can occur online, the structure of the transaction, and the documentation that you’ll need to provide, is fairly similar to the traditional process. The differences arise...
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Tags: borrowing advice, mortgage advice, mortgage rates, online mortgage
Posted in Mortgage | No Comments »
Borrowing Mistakes to Avoid
Friday, November 18th, 2011
Most of us do everything we can to avoid getting sick. We wash our hands regularly, make sure our food is adequately cooked and do all of the other little things so that we don’t come down with a cold or the flu.
Unfortunately, we don’t always pay as much attention to our financial health. In many cases, any financial difficulties we find ourselves in are a direct result of our own actions or in-actions. Just as we try to avoid getting sick, we should avoid the bad decisions that could damage our financial well-being.
Here is some information and...
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Tags: borrowing advice, borrowing mistakes, mortgage advice
Posted in Basics | No Comments »
The Economics of Renting Versus Buying
Monday, May 30th, 2011
Buying a home is part of the so-called American Dream. It gives homeowners a sense of pride, as well as the freedom to do as the please (within reason and within the law) with their property. But there’s a lot to be said for renting, too. It doesn’t tie you down to a specific location like buying does, and it gives you definite advantages when it comes to property maintenance.
Whether it’s better to rent or buy is a matter of your specific economic and life situations. It’s important to take these into account when you make a decision.
Here...
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Tags: borrowing advice, mortgage advice, own home, rent versus buy
Posted in Basics | No Comments »
Shopping for a Mortgage
Saturday, May 21st, 2011
Owning a home is a goal that many of us share. But it’s not as simple as choosing a house and laying down the money. Unless you have plenty of money saved up, you’ll have to get a mortgage first.
Many prospective homeowners will qualify for a mortgage. But comparatively few get the best possible deal on one. Most simply go to the nearest lender, fill out an application, and proceed with whatever kind of deal they’re offered. But if you shop around, you’ll find that different lenders offer vastly different terms that could make a huge difference in how...
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Tags: borrowing advice, Mortgage, mortgage advice, mortgage rates
Posted in Mortgage | No Comments »
Should You Downsize Your Mortgage?
Monday, May 9th, 2011
When interest rates drop, homeowners tend to flock to mortgage lenders hoping to refinance. In good economic times, they are usually looking to not only take advantage of lower interest rates, but tap into their home equity for some extra cash. But in the face of dropping home prices, many are simply hoping to lower their monthly payments or pay down their mortgages more quickly.
Sometimes refinancing is a good idea. But surprisingly, getting that lower interest rate can sometimes cost you more than staying with your current mortgage.
Here is advice on some things to consider before you refinance...
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Tags: borrowing advice, downsize mortgage, Mortgage, mortgage advice, mortgage refinance
Posted in Mortgage | No Comments »
Best Reasons to Refinance a Mortgage
Monday, February 14th, 2011
There are a number of reasons that people may want to review their current mortgages and consider moving to refinance. Understanding the cost versus the benefits can be the best step in moving in the best direction for each individual need.
Some of the questions to consider are have interest rates fallen? Do you expect them to go up? Has your credit score changed so that you might be eligible for a lower-rate mortgage? Would you like to switch into a different type of mortgage?
How you answer these questions will influence your decision to refinance your mortgage. But...
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Tags: borrowing advice, mortgage advice, mortgage refinance, refinance
Posted in Mortgage | 3 Comments »
Tactics To Delay A Mortgage Foreclosure
Monday, September 20th, 2010
Each month we read about more and more homeowners facing the prospect of a mortgage foreclosure. Many cannot afford to pay rent and are terrified of the prospect of moving out to nowhere. If you are finding yourself in this situation, there are ways to delay the foreclosure of your home, sometimes even for a year or more. By living rent and mortgage-free for that time, you could be able to get back on your feet, save up a rent deposit and get moved on your own terms.
Even without using any delay strategies, you will have a few months...
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Tags: borrowing advice, delay mortagage foreclosure, mortgage advice, mortgage foreclosure
Posted in Mortgage | 1 Comment »
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