$100 Down Program is Back
Updated Oct. 9, 2013
What can $100 buy? Let's see... o About two tanks of gas. o Two months of cell phone service. o A nice dinner for two. o A new house What? A new house? That's right! When buying a home that has been foreclosed from HUD (the Department of Housing and Urban Development), you can get that home for $100 down. There are a...

HUD Expands the $100 Down Program to More States
Updated Oct. 9, 2013
In an effort for the government to unload more of their foreclosed properties, the Department of Housing and Urban Development has expanded their $100 down program to more states.. Here is how the program works:. When buying a home that has been foreclosed from HUD , you can get that home for $100 down. There are a few...

6 Tips to Maximize Your Appraised Value
Updated Oct. 9, 2013
When buying or refinancing, an appraisal is almost always required (there are a few exceptions).What is an appraisal? It's simply an independent opinion of your home's value, performed by a licensed home appraiser.Here is what they do:First: they find a starting value based on the recent sales...

Two FHA Loans At The Same time?
Updated Oct. 24, 2014
I often get asked if it is possible to own a home with an FHA loan and then later buy another home with another FHA loan? Most often the answer is "no, only one FHA loan is allowed per person at any one time".. However, just like anything else, there are exceptions to most rules. Exceptions that may allow someone to have 2...

What Is Annual Percentage Rate (APR)?
Updated Oct. 9, 2013
More commonly called APR, Annual Percentage Rate is a government-mandated mortgage comparison tool. It measures the total cost of borrowing over the life of a loan into dollars-and-cents.. A loan's APR is printed in the top-left corner of the Federal Truth-In-Lending Disclosure, as shown above. When...

Three Major Mortgage Mistakes Which Are Sure to Increase Your Closing Costs
Updated Jan. 16, 2015
When shopping for a mortgage, it is important to take closing costs into account. While some closing costs are the same for all lenders, different programs may add or reduce some of the burden borrowers face when closing on a home loan.. Let's take a look at some major mistakes that could result in borrowers...

Tax Time is Upon Us: How to Write off Your Home Mortgage Interest
Updated Feb. 4, 2015
Much to the chagrin of taxpayers all over the country, the tax-filing season begins in January and runs through April 15 of each year.. As the current tax season approaches, it presents an opportunity to help tax-payers clarify their responsibilities and remind them of certain important tax deductions that may...

Buying a New Home? Follow These Three Tips to Ensure a Stress-Free Transaction
Updated Feb. 5, 2015
Buying real estate and or taking out a home loan is a significant milestone in life. Frequently, it means that a new phase is starting, whether it's a new job, a new relationship, or moving to a new area. However, when the most basic steps are missed, this transition can be fraught with stress and disaster. To...

Are You Ready to Make the Leap into Home Ownership? Here's How You Can Tell
Updated Feb. 9, 2015
Are You Ready to Make the Leap into Home Ownership? Here's How You Can Tell Are you ready to make that leap from living at home or renting to owning a home of your own? While everyone moves at their own pace, here are some signs that you can use to determine if it is time to own your own home. Let's take a look at...

Have You Outgrown Your Home? 5 Easy Ways To Tell If It's Time To Upgrade
Updated Mar. 16, 2015
Your home is your castle, your own little piece of the American dream. But lately, your little corner of the world has been feeling cramped and you find yourself eyeing those larger homes. Is it time to pull up stakes and move on from your starter home?. Growing Family. If you've added to your family in recent...

The Mortgage Pre-approval Letter: Why It's Important and How to Get One
Updated Mar. 16, 2015
If you are thinking about buying a new home in the near future, you may already be searching online to get a feel for the different types of homes available in the local area. You may have reviewed your budget, and you may have a fair idea about a sales price that is comfortable for you to afford.While you may feel as...

Understanding the Key Factors That Affect Your Mortgage Interest Rate
Updated Mar. 18, 2015
When you initially start shopping for a home mortgage, you may be drawn to advertisements for ultra-low interest rates. These may be rates that seem too good to be true, and you may gladly contact the lender or mortgage company to complete your loan application. However, the unfortunate truth is that all too...

Variable-rate vs. Fixed-rate Mortgages - Which is Better for Your Financial Situation?
Updated Mar. 20, 2015
When applying for a new home mortgage, many loan applicants initially consider applying for a 30-year fixed rate mortgage. This is perhaps the most common and traditional type of mortgage available. It allows you to enjoy the opportunity to pay for your home over the course of 30 years with equal payments every...

Three Unique Upgrades That Will Drive Your Home's Resale Price Through the Roof
Updated Mar. 20, 2015
If you are a homeowner, you should always be thinking about ways that you can boost the resale value of your home. Whether you are planning on putting the home on the market, or simply want to be prepared for the future, there are upgrades that can make your property more desirable. Give your home the attention it...

3 Reasons Why Your Mortgage Lender Might Ask for Your Tax Returns - And Why You Should Provide Them
Updated Mar. 26, 2015
After you have completed the initial loan application and have signed the preliminary loan disclosures, your mortgage loan application will generally receive a preliminary prequalification. This prequalification will be based in large part on your ability to provide documentation to support your...

Spring DIY Projects: How to Build a Treehouse That the Kids Will Love
Updated Apr. 1, 2015
If you have children, no home is complete without a treehouse. Besides the fact that treehouses provide kids with hours of entertainment, they can also confer ancillary benefits that are hard to quantify. For starters, treehouses can improve property values by boosting curb appeal. When building any type of...

Four Ways That Being Diligent with Your Mortgage Payments Can Seriously Improve Your Credit
Updated Apr. 3, 2015
The unfortunate reality is that many individuals have a lower credit rating than they would like. For many, this is caused by issues related to high debt balances, late payments and other related issues. If you have a lower credit rating, you may be wondering what steps you can take to improve your standing with the...

How Does Making Lump Sum Payments Affect Your Mortgage?
Updated Apr. 7, 2015
Periodically, many homeowners will receive a rather sizable amount of extra cash. This may be from a bonus from your employer, a refund on your tax return, a financial gift from a relative or something else altogether.. While there are many things that you could do with your windfall, you may be wondering if paying...

First-time Real Estate Investor? Here Are 3 Helpful Tips That Will Get You Started
Updated Apr. 8, 2015
Real estate investing in comes with many benefits that you may be eager to start taking advantage of. For example, the right rental property can provide you with monthly cash flow coupled with equity appreciation, tax deductions and more, and these can have incredible effects on your overall financial...

Understanding Mortgage Lenders and How They Assess Your Credit
Updated Apr. 14, 2015
One of the most significant factors a mortgage lender will review when you apply for a new mortgage loan is your credit history and rating. While some people have stellar credit, others have a troubled credit history with lower scores.. If you fall into the latter scenario, you may be wondering how lenders will...