Making your mortgage payment may be daunting, but in Trulia’s recent report, Rent vs. Buy: Roommate Edition, they examined the impact that renting with a roommate has in determining whether it is more expensive to rent or buy. The study explains: “Since we started keeping track in 2012, it’s been a better deal to buy […]
Category Archives: Mortgages
Mortgage Borrowers: Lock Prices ASAP
According to Jack Guttentag, professor of finance at the Wharton School of the University of Pennsylvania, interest rates increasing is soon approaching. After analyzing what the Federal Reserve has been doing the past few years, Guttentag believes a mortgage price increase is highly likely in the near future. He claims this price increase will cause […]
Pay Off an Existing Mortgage Balance
Paying off an existing mortgage isn’t always easy. A professor of finance at the Wharton School of the University of Pennsylvania, Jack Guttentag, recently tackled a difficult question about mortgages: should you pay off an existing mortgage balance before getting a reverse mortgage? This is a topic that is often overlooked or not addressed whatsoever, […]
The Down Payment
You Do Not Need 20% Down to Buy NOW!
A survey by Ipsos found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. There are two major misconceptions that we want to address today. 1. Down Payment The survey revealed that consumers overestimate the down payment funds needed to qualify for a […]
Have You Saved Enough for Closing Costs?
Why Getting Pre-Approved Should Be Your First Step
In many markets across the country, the amount of buyers searching for their dream homes greatly outnumbers the amount of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved […]
Getting to Value
Fair market value is the price that real estate would sell for on the open market without any unusual forces being involved. The definition is relatively simple but there certainly different methods of determining what it is. A homeowner could order an appraisal before they put their home on the market but would incur the […]
Crucial Questions for Home Buyers
3 Crucial Questions Most Home Buyers Don’t Know the Answer To…DO YOU? Whether you are considering the purchase of your first home or trading up to the home your family frequently fantasizes about, there are three crucial questions you must know the answer to: What is the minimum down payment required to purchase a home? […]