Today’s higher interest rates are squeezing would-be home buyers. Less than three years ago, rates were below 4 percent. Now they are above seven, and monthly payments have soared. This has driven home sales down...
Today’s higher interest rates are squeezing would-be home buyers. Less than three years ago, rates were below 4 percent. Now they are above seven, and monthly payments have soared. This has driven home sales down...
Paying property taxes is an unavoidable part of homeownership. But why are you charged these taxes, and what determines how much you pay? Here’s a brief primer on property taxes. Where does all that money...
The Federal Housing Administration’s accommodating lending standards help financially challenged Americans achieve the dream of homeownership. But buyers may be surprised to learn that FHA has minimum standards for the property condition that can potentially...
Owning a home is an essential part of the American dream for most people. Did you know that federal and state governments, as well as mortgage lenders, offer homeownership incentive programs that can help you...
Significant financial misfortune may lead you to do the unthinkable: file for bankruptcy. You may fear that this means the American dream of homeownership is out of reach, but all is not lost. Homeownership after...
When a homeowner is forced to give up a home because of financial hardship, the house is referred to as distressed property. Buyers can often purchase distressed properties at a deep discount, but these transactions...
When buying a home and applying for a mortgage, a good credit score is critical. A home can be purchased with less than stellar credit, but often at interest rates and terms that aren’t to...
The mortgage approval process is rigorous. Since the housing bubble burst in 2008, federal regulators have ratcheted up their standards. Here’s a list of the do’s and don’ts to be approved. Do this. Brace yourself...
One of the most important steps in the home-shopping process is for buyers to have an initial assessment of their ability to get a mortgage. As a buyer, already having a mortgage preapproval letter from...
The loan processor you work with when you apply for a mortgage isn’t the person who decides whether you qualify for a loan. That power lies with the mortgage underwriter. How do underwriters decide whether...
