If you’re hoping to buy a home before the holidays so you can host Thanksgiving and Christmas dinners in your new digs, you better get started on a house purchase immediately. While the home-buying process can be a lengthy one, there are certain strategies that can speed up the undertaking. Here, Realtor.com offers expert advice that should see you putting
“House-rich, cash-poor” comes down to how much you have tied up in your home, compared with how much you have in your pocket. In other words, you have more equity locked into the value of your home than you have in liquid assets. For example, you have a debt-to-income ratio that is higher than 40 percent, which means your homeownership expenses
Making sure your credit is in the best shape possible before applying for a mortgage will put you ahead of the game. Not only is good credit important when it comes to being approved, but it also determines what interest rates you’ll be offered on your loan. That being said, a score of 730 and above is considered excellent, while
If you’re ready to buy a house, and you want it to go well and don’t want to regret your decision, here are some questions you should ask yourself first. Do I have money in the bank? Mortgage lenders like it when you have enough money for a 20 percent down payment. For example, if you’re going to buy
Refinancing can help improve your financial picture, and real financial security comes from having a home with no mortgage. Do you dream of making the very last payment on your mortgage, as well as how you’re going to feel when you are mortgage-free, and what will do with all that extra money you’re going to have at the end of
While it’s great to be debt-free, there might be better uses for your extra money rather than paying off your mortgage early. When you consider your overall financial picture, you probably don’t like seeing all of that mortgage debt there. It can be tempting to try to pay off your loan early, but that might not be the best idea.
Being a first-time homebuyer can be both exciting and challenging, especially when it comes to wrangling up the necessary funds not only for a down payment but for the ensuing household budget as well. While an experienced real estate agent can offer advice and assistance to help first-time homebuyers determine if they can actually afford the house of their dreams,
There are numerous mortgage steps that are involved before a lender is ready to issue a home loan. Buyers could miss something during the process. Here, Realtor.com offers five essentials that many people don’t realize they need to obtain a mortgage. Pre-approval This is a commitment from a lender to provide you with a home loan of up to a
Once they’re retired, many older adults find they want to downsize or move to a new city. Many older adults find they want to downsize or move to a new city when they retire. This can be an exciting and challenging time to get a mortgage While lenders are prohibited from discriminating against loan applicants based on age, retirees still face
If you’re thinking about buying a home, you need a game plan. House hunting is about more than visiting a few open houses and choosing the house you like the best. A smart search means you’ll save time, money and your sanity during your home-buying process. Here, Realtor.com presents some classic mistakes to avoid. Not arming yourself with a mortgage pre-approval Sellers
