A new home is one of the biggest purchases homeowners will make in their lifetimes. Regrettably, sometimes costly mistakes are made by various parties of the transaction – builders, remodeling contractors, or even the new homeowners, themselves.
As home prices continue to grow and housing affordability diminishes, a new report maintains that the cost of buying a home is still only about half the cost of renting.
Home ownership is the ultimate dream for many in the United States, but going through it for the first time can be a daunting process.
If you surveyed one hundred homebuyers (or Realtors) and asked what is the number one benefit of homeownership, the overwhelming majority would say “tax benefits”. But how many of us really understand the mortgage interest deduction?
You might be ready to buy a home, but are you armed with the knowledge you need? Do you know about credit score requirements?
A lot of homebuyers mistakenly believe that their household income and assets are enough to qualify them for a loan and low mortgage rates, but credit reports can derail borrowers of all kinds — even those with high incomes and large bank accounts.
Buying a home is more than just house hunting, getting a loan approval, closing escrow and then moving in. It’s the beginning of the financial foundation for your future.
Whether you’re preparing to finance a home or are already in the process, it’s easier to have a checklist of items in front of you that you will need to deliver during the mortgage process.
When buying a home it’s always good to begin with the end in mind. If you think your first home may be a foreclosure, then think about how you can make it appeal to the greatest number of home buyers when you do get ready to sell.