Borrowing against home equity can be a convenient way to access cash, but it also carries risk, as millions of Americans learned in the housing crisis of 2008. If you’re considering it, CNBC tells you 4 things borrowers should know. 1. It’s getting (slightly) easier to qualify More than 10 percent of lenders eased their credit standards somewhat for HELOCs in the first
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Thinking of buying a home? Now’s a great time to brush up on your mortgage terms 101. Here, is a helpful glossary to help demystify the often confusing mortgage process. Adjustable rate: An interest rate that may change during the life of the loan, and the essence of an Adjustable Rate Mortgage or ARM. Some rates vary according to an established
Whether it’s choosing the wrong location or buying more house than you can afford, almost everyone makes mistakes when it comes to purchasing a home. That being said, certain age groups are more susceptible to particular missteps than others. Here, Bankrate discusses some common mistakes homeowners make at each age, and a few ways to avoid them. 20s: Getting the wrong
Thinking about buying your first home? That worrisome down payment has probably kept you awake for more than a few nights. That’s understandable. Although a pre-approval is crucial for determining your buying power, it’s the down payment that shows you mean business. Saving up is difficult, however, and it’s often a roadblock that keeps many individuals from buying a home.
If you’re a homeowner, there’s one thing that won’t change: your obligation to make a monthly mortgage payment. The good news? A loan term doesn’t have to dictate when you free yourself from this financial commitment. Here, Trulia gives 5 tried-and-true ways to pay off and cut the ties early while lowering the total amount paid in the process. 1. Refinance
