Now that most of the country is in isolation at home, do not let it all be about binging shows on Netflix©. If you are looking into buying a home after the isolation lets up or in the future, here is some preparation that you can do at home. Part of the preparation is all […]
As you prepare to file your 2019 taxes, it is important to note that the standard deduction for 2019 was raised to $12,200 for single taxpayers and $24,400 for married filing jointly. Married filing separately pays the same as single. As you work through your taxes, whether by professional or by tax program on your […]
When purchasing a home, the largest expenditure you will have is the down payment. This payment can range from zero, if you are a veteran, to 3.5, 5, 10 and even 20 percent. When you get a mortgage, you will also get closing costs which will add another 2-4 percent that must be paid in […]
If you experienced the distressed sale of a home but now you have your credit and finances back in order, you may still be asking the question “How long do I have to wait to qualify for another mortgage.” Based on when you experienced your distressed sale, the length of time will differ. Each different […]
Private mortgage insurance is usually required on mortgage loans for more than 80 percent loan-to-value. If a borrower defaults on their loan, mortgage insurance will reimburse the lender. You need to be aware that when certain conditions have been met, expensive PMI can be removed. When your mortgage balance has reached 80 percent of your […]
Considering refinancing? Buying a new home? It maybe worth discussing a 15-year loan instead of a traditional 30-year mortgage. Monthly payments will be higher but your interest rate will be lower and your equity will climb faster. Below I have provided an example for comparison on a $300,000 mortgage with two terms. One 30-year term […]
Technology today is a wonder! We are able to do more things with our smartphones than we could just a few years ago. Homebuyers (over 90%) use video tours, digital signing and home search sites such as ZillowⓇ to get information about homes, neighborhoods, schools and even future neighbors. With all this technology happening, homebuyers […]
Over the last several years, there have been a variety of factors that have led to a rental unit shortage especially with single-family homes. Due to this shortage, rents nationwide have been increasing. In most national markets, it costs considerably less to own than to rent. Paying less on a monthly mortgage to buy a […]
Mortgage rates are creeping up but are still pretty affordable. If you are looking to buy a home, there is an alternative to the fixed rate mortgage but you need to understand the rules. This alternative mortgage can significantly lower your cost of housing over the first five years. As an example, let’s take a […]
There is a frequently quoted expression “more money has been lost from indecision than was ever lost from making a bad decision.” Whether or not this statement is accurate, almost everyone can remember an incident when waiting cost them money. Real estate markets across the U.S. are short on inventory. Some so short that it […]
