Pros and Cons of Using a 401(k) to Buy a Home

401k

Recently, a reader asked us about using 401(k) funds to buy a home: “Hello, can you please give your opinion on borrowing from my 401k to purchase a home? The pros and cons? Thanks for your opinion.” Whether you should use your 401(k) to purchase a home depends on a number of factors, but borrowing […]

Published or Updated: November 12, 2013

How Interest Rates Affect How Much Home You Can Afford

Home Seller Tips

The state of the housing market is the talk of the town. Home prices are beginning to rise, and with them, mortgage rates are rising, as well. While interest rates are still quite low, they’re climbing back from the historic rock-bottom they’ve been sitting at since the housing market crash of 2008. But what do […]

Published or Updated: September 4, 2013

8 Tips for Choosing an Excellent Real Estate Agent

Real Estate Investing

Buying or selling a home? You’re about to make one of life’s biggest and most important financial transactions, and you don’t want to go through it alone. A good real estate agent can make all the difference. They will no the market backwards and forwards. They will have a network of contracts to help you […]

Published or Updated: September 7, 2013

5 Ways to Calculate How Much House You Can Afford

Quicken Loans

Particularly for those looking to buy their first home, the big question is always, “How much house can I afford.” I can still remember my wife and I trying to crunch the numbers when we bought our first home back in 1993. I was scared to death that we wouldn’t be able to afford the […]

Published or Updated: July 28, 2013

Fixed Rate vs. Adjustable Rate Mortgages: Pros and Cons

Mortgage Rates

While there are many types of mortgages, the biggest division is fixed rate versus adjustable. Although fixed rate mortgages are the most common in the United States, adjustable rate mortgages are the norm in many European countries and Australia. But just because one or the other is the norm doesn’t mean that it’s best for […]

Published or Updated: July 11, 2013

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