While real estate has its ups and downs, over time it has proven to be one of the most consistent and reliable investments. On average, real estate values have appreciated at an average rate of 6% a year since 1968, when the National Association of Realtors started keeping track. Comparing this to stock market returns, … Continued
As a homeowner, you’ll be responsible for several costs. It is important to be aware of these 4 homeowner expenditures: 1. Property Taxes – As a homeowner, you are responsible for paying annual taxes on the property you own. Often, these taxes are bundled into your monthly mortgage payment and held in an escrow account, … Continued
The VA Home Loan program provides qualified homeowners with a simple way to take advantage of lower rates and decrease their monthly mortgage payment. Military homeowners can get cash back on a VA refinance and use the proceeds for a variety of needs, from paying off debt or making home improvements and much more. The … Continued
Reverse Mortgages are generally looked upon as a vehicle to assist a person in distress or to provide a solution for an immediate problem but how about having it be part of your long term retirement planning and financial strategy. The HECM (Home Equity Conversion Mortgage) Saver, a type of Reverse Mortgage, can be incorporated … Continued
The number one reason many people put off buying a home is that they think they can’t afford it and become scared off due to the lack of a downpayment. People often think they need to come up with thousands of dollars in cash in order to get a mortgage. This is simply not true. … Continued
Many states and numerous cities across the United States sponsor loan programs aimed at making it easier for renters to become homeowners. A comprehensive list, organized by state with complete contact information is available on the website of the U.S. Department of Housing and Urban development at www.hud.gov. The fact is that the government – … Continued
You can’t afford NOT to buy. Buying can be cheaper than renting. Purchasing a home makes a great investment. The government wants you to become a homeowner by offering impressive loan programs. You don’t need a huge down payment to purchase a home. You don’t need perfect credit or a big income to get a … Continued
An index is an economic indicator that lenders use to set the interest rate for an ARM. Generally, the interest rate that a borrower pays, is a combination of the index rate plus a pre-signed margin. Three commonly used indices are the One-Year Treasury, the Cost of Funds of the 11th District Federal Home Loan … Continued
USDA Home Loans supplies 100% financing for a home purchase, or refinancing in a USDA designated rural area. USDA home loans are guaranteed by the United States Department of Agriculture and are serviced by direct lenders that meet federal guidelines. The USDA home loan program extends many financial benefits to those who qualify including no … Continued
1. Check the selling prices of comparable homes in your desired location. Web sites such as www.zillow.com can give you a general idea of what you should expect to pay. You can also do a quick search of actual MLS listings in your area on a number of Web sites, including the site of the … Continued