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 […]
When compared to alternative investments, rentals homes have some distinct advantages. With these advantages and the opportunity for a higher yield, it becomes a clear choice for many investors. Most types of investments have to be paid in cash up front. You can purchase stock with 50 percent cash, but if the value decreases, you […]
The Federal Reserve did a report on Consumer Finances. It reported that homeowners’ net worth is 36 time greater than the net worth of renters. Additionally, the National Association of Realtors® has predicted that at the end of 2015, homeowners’ net worth will be 41 times greater than that of renters. Considering all the factors […]
You may have been approached by a family member or friend to co-sign a loan for them. Assurances are made that they will make payments. You feel obliged because you don’t want to disappoint them. It won’t cost you anything…or will it? When we change our thinking about the loan it might make more sense. […]
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 […]
Have you thought about making additional principal payments on your home mortgage? Here are three benefits: building equity faster, saving interest and shortening the term on your fixed rate mortgage. Just these items alone would be enough for you to justify paying the extra money. But there is also another huge advantage if you are […]
Your home is probably the largest personal asset you have and as an asset it can be used to increase your financial stability. As your mortgage amortizes, it becomes a mandatory savings account with the balance of your mortgage decreasing with every payment. You begin to build equity. You can use this equity to improve […]
Are you one of the people who don’t really care about your credit rating until you need it for a loan? If so, you are taking a chance on being denied future loans and/or delaying any decisions on financing. A common issue is not reviewing and correcting items recorded on your credit report. There are […]
Wow, you just got your water bill and it is through the roof! This may indicate a water leak in your home. Try this simple test before you shell out for the plumber. Find your water meter. It will be located at the street where you home connects to public water service. If you need […]
What if you could live in a possibly newer and bigger home Fairfax home for sale for the same or less than you are currently spending? Would you think about moving? Read on… Analysts have been predicting that interest rates will go up by the end of 2015, but they recently dipped and are still […]
