The spring-summer home buying season in high gear, and for first-time home buyers, finding an affordable dream home in today’s market could be quite a challenge. Then, after finding that ideal home, you have to secure a mortgage that makes financial sense both today and for the future. Here, Forbes offers some insider mortgage tips for first-time home buyers. 1.
Financial hardships can happen to anyone, whether it’s losing a job or being hit with unexpected medical bills. If you’ve experienced difficult times and fallen behind on your mortgage, it’s important thing to know that there are plenty of options available to help you avoid foreclosure. Here, Forbes offers some tips to help if you’ve gotten behind on your mortgage
To get your mortgage online or not. Do you really want to make one of the most important financial transactions you’ll likely ever make using the Internet? Here are three reasons why it’s a good idea to take more time with the process and to consult with your experienced loan officer, realtor.com . 1. You’re a first-time home buyer Researching all
When it comes time to apply for a mortgage, most people are thinking mainly about the size of their monthly payment. But there are many other factors to consider as well. Here, Forbes suggests these additional questions to ask your lender before signing on the dotted line to make sure you leave feeling informed about the entire process. 1.
We all know that buying a home is one of the most significant purchases you’ll ever make, and since most people don’t have ample liquid cash available, a good mortgage rate is a necessary part of the process. That being said, the terms of your mortgage matter greatly, since the interest rate, type of mortgage and length of time you
The purchase process can be complicated for potential homebuyers with challenging financial situations—including large student debt, a divorce or bankruptcy, medical issues, job loss, a new job or even relocation—and that can often lead to buyer hesitancy. Here, RISMedia examines financial hurdles some buyers might face and how they can work to overcome them. Homebuyer Checklist #1: Lender rejection Your
While your credit score is an important factor in being approved for a loan, other factors also are involved when it comes to determining your ability to afford to buy a home. If your credit score leaves something to be desired, Forbes suggests looking at these four factors that can help to achieve your dream of becoming a homeowner. 1.
Say you’ve found a property that will be a great investment at a bargain price. Or perhaps the beach cottage you’ve had your eye on for years just came on the market. Whatever the reason, if you’re considering applying for another loan while refinancing your current home, the process can be somewhat complicated. To give you the full picture, Realtor.com
You’ve been pre-approved for a mortgage, found the perfect home and had your offer accepted. All you need to do now is sit back and wait for closing, right? Well, not exactly. While the odds are reasonably good that nothing major will go wrong, that doesn’t mean things can’t go wrong. A financial misstep now could change your mortgage terms and interest rate, or even
In the wake of all the changes ushered in by the new tax plan, the Tax Cuts and Jobs Act, realtor.com offers a list of all the tax breaks for homeowners. Mortgage interest In the past, you could deduct the interest from up to $1 million in mortgage debt (or $500,000 if you filed singly). But for loans taken out from Dec.
