Despite the importance of interest rates and their direct influence on your monthly mortgage payment, rates should not necessarily be the deciding factor as to whether to buy now, later, or at all. There are bigger questions to ask.
Preparing to take the biggest test of your life, you study extra hard and get a good night's sleep before the big day. Preparing for a job interview, you research the employer and you show up on the big day at least 10 minutes early.
Getting to know all the people who will join you for all or part of your homebuying journey is like meeting new people on the first day of school or the first day at a new job. There will be a lot to process, which alternately will prove exhilarating and overwhelming.
HOAs can be a great benefit—and selling point—in terms of reduced labor on your part and amenities, as long as you don't mind abiding by a few rules in return.
It might sound strange, but not all debt is 'bad.' Certain types of debt can actually provide opportunities to improve your financial future. Before you make any decisions, you need to understand the difference between 'good' and 'bad' debt, and how you can manage it. Check out this infographic and find out everything you need to know when it comes to all types of debt.
Recently retired, you've sold your home at the top of the market, you're flush with cash from all the home equity you've realized, and now but one question remains: Where are you going to live next?
Lenders use LTV to convey the maximum amount of money they're willing to lend to the borrower and how much money in the form of a down payment they expect the borrower to contribute.
Typically, the lender approves your loan application based on conditions, meaning you have to satisfy certain requirements before your loan is fully approved.
To make decisions about your money, you need to know where it goes. The best way of doing this is to keep a money diary for at least a week and, preferably, a full month.
Debt is one of those things that can be both hard to live with and hard to live without. Many of us choose the former. The average household carried $137,063 in debt (including mortgages) last year.