16 Types of Mortgages

Mortgage

When it comes to buying a home, you may think that your only option is a 30-year, fixed rate mortgage. But there are plenty of options out there. Here’s a basic overview of 16 types of mortgages, some common and some less so. Fixed Rate Mortgage Fixed rate mortgages are the most popular option because […]

Published or Updated: July 4, 2013

10 Low Cost Ways to Sell Your House For More

For Sale by Owner

Are you getting ready to sell your home? If you’re like most home sellers, your main concern is to get the best possible price for your home – without having to spend a fortune. Luckily, there are many simple ways to boost your home’s sale price for a small upfront investment of time or money. […]

Published or Updated: July 3, 2013

8 Tips for Saving a Down Payment for a Home

Down payments require some serious cash. Even a bare-minimum 5 percent down payment on a conventional loan means coming up with about $9,800 for the current median home sale price, listed on Zillow, of $196,100. And that’s before adding in closing costs. You probably don’t want to wait forever while you chip away at a down […]

Published or Updated: May 29, 2013

A Complete Guide to Closing Costs

Complete Guide to Closing Costs

While most future homeowners know they need to save for a down payment, they often forget about closing costs. Closing costs are a broad category of items that you pay at the time you buy a home. They are called closing costs because you pay them at, you guessed it, the closing. The bad news […]

Published or Updated: May 28, 2013

How to Use Retirement Savings to Buy a House

Using Retirement Savings to Buy a House

Today’s low interest rates make buying a home incredibly tempting, especially if you’re being hit with annual increases in rent. But finding money for a down payment can be tough, especially if you don’t have much wiggle room in your budget. One option is to tap your retirement savings. This approach has plenty of pros […]

Published or Updated: April 16, 2014

Using a Gift as Part of Your Down Payment

Gift

Photo: ejorpin Saving a down payment is one of the hardest parts of buying your first home. In fact, about 25 percent of first-time homebuyers get help with a gift from a relative as part of their down payment. There’s nothing wrong with this, but there are some regulations you need to consider as you […]

Published or Updated: May 17, 2013

Should You Save For Emergencies or a Down Payment First?

Savings

If you’re just starting out on your journey to financial success, you may not have a big emergency fund saved. And if you’re planning to buy your first home soon, you may be wondering how to structure your savings. Should you save for your emergency fund first? Or should you save for your home and […]

Published or Updated: April 29, 2013

8 Ways to Pay Off Your Mortgage Early

The decision to pay off your mortgage early is a controversial one. But for some who have tackled many of their big financial goals and erased other debt, putting their home mortgage in their crosshairs can make sense. If you’ve decided to pay off your mortgage early, here are several strategies for saving money and […]

Published or Updated: April 16, 2014

Homebuying Programs for Low-Income Families

Home Buying Programs

In most areas of the country, owning a home is a significantly better investment than renting an apartment. If you have a bit of money in savings and can consistently pay your rent on time, you may be ready for homeownership. For many, however, there is one big hurdle–the down payment. What if there’s no […]

Published or Updated: April 28, 2013