Tag: Home Buying Tips
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Still on the Fence About Selling or Buying This Summer? Consider This.
On the fence about selling your home? Or maybe you’d love to be a buyer, but wonder whether to watch and see if mortgage rates drop… And why not wait for better rates, if you have time to spare? Then again, summer is a traditionally popular time to move. Did you know most deeds change…
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Dreaming of Homeownership: Is a Duplex Worth Considering?
Got homeownership dreams? A duplex could be a way to break into today’s housing market. A duplex, of course, is a home property made up of two units. Typically, the two units share a wall but have separate entrances. So a duplex is essentially a house, divided into two homes. With home prices as high…
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All About DTI: How Much Debt Is Too Much If I Want to Buy a Home?
Receiving the deed to a home is a major milestone. Typically, it depends on an earlier milestone: the mortgage approval. Apply for a mortgage, and lenders will consider your debt-to-income ratio (DTI). Why the DTI? Essentially, the lender wants to know how much of your earnings you spend, using credit. A low DTI suggests that…
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Get in Early, Make a High Down Payment: The Case for Assertive Home Buying
Have you noticed the big home finance companies desperately touting their low-down-payment deals? You’d think no one wants to put 20% down anymore! But interest rates are high, so keeping your debt high is a pricey thing to do. Therefore, it can make sense, for those who can swing it, to: Let’s explore the case…
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Who’s Buying Into Rural Boom Towns—And What the Locals Think
There’s a new dynamic in real estate. Companies and people are moving to Indiana, Nevada, Nebraska, Georgia, and Tennessee. Change is happening in rural areas, as so many people have left the cities to live and work in the outskirts. Counties in Florida and Idaho are dealing with similar growing pains. People have flocked to…
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“Assume” Makes a Great Deal for You and Me, Right? What to Know About Your Assumable Mortgage
Got a government-backed mortgage with an assumable loan? If you decide to sell, a buyer might jump at the chance to get, say, a 3% interest rate instead of something between 6% and 7%. An assumable loan lets the mortgage stay on the home, even though you transfer the home’s deed to a new owner.…