Trying to come up with a home budget is extremely difficult, and it can leave many upcoming buyers frustrated and confused. How much is too much? Is there a bottom-level that we should be aiming for? What is the...
If you rent a room to a tenant, you may be able to use their monthly rent checks as qualification for your next home loan. Assuming you can demonstrate that they have lived with you in the past and...
If you want to purchase a single parcel of land, the process is fairly simple. There is a clearly-defined, well-understood system for purchasing a single piece of property. Whether that property is for personal use, development, or commercial gain,...
Sometimes it seems like becoming a homeowner is an impossible journey. There are many blockades, but one of the largest is the need for a down payment. While there are options for purchasing a home without a down payment,...
You want to buy a home, but you’re really not sure is a large property is right for you. You’re not interested in tending to a large lawn every weekend, trimming rows of trees, or spending hours hedging bushes....
Homeownership is an important part of American prosperity. It provides secure, consistent housing and, because a mortgage payments become real ownership, acts as a forced savings account. It allows you to take pride in your property and lets you...
In a previous article, we discussed how you can acquire a loan to help purchase a home for an elderly parent. We discussed many important points, such as the challenges of purchasing a parent’s house as a “second home”...
If you are having trouble qualifying for a mortgage, you may consider using a “seller carry.” This is a special situation that, depending on the details, could help you qualify for a mortgage that would otherwise be unavailable. What...
Mortgages can be confusing. There are loan terms, interest rates, down payments, closing costs, and many other detail that you need to understand in order to get the best results. Another important detail is the option for “mortgage points.”...
It happens in lending from time to time. On occasion, rates are so high that they trigger the requirements of a High-Priced Mortgage Loan, also called an “HPML.” In many cases, this means the only solution is to establish an...