Coming up with the cash for a down payment can be a big hurdle for anyone hoping to become a homeowner. Most financial experts recommend aiming for a 20% down payment to avoid paying extra each month for private mortgage insurance. If you feel like it may be impossible to save up that much, you’re
Buying a house takes a lot of organization, careful thought and, of course, money. But if you’re serious about becoming a homeowner, you need to get prepared for the road ahead. Business Insider spoke to Dana Bull, a realtor with Sotheby’s International in Boston, and George Chedid, a realtor with Century 21 Barrood in Kendall Park,
Applying for a mortgage is arguably everyone’s least-favorite and least-understood part of the homebuying process. Nobody enjoys assembling the mountain of paperwork required for a loan application. But 90% of us need a mortgage loan to buy a house. So it behooves us to learn what prospective lenders really want to see in all the
Are you considering applying for a home equity line of credit? Home equity lines of credit, commonly referred to as HELOCs, represent an attractive type of financing that homeowners may decide to take advantage of for a variety of different reasons. HELOCs are commonly used to finance home improvements, to pay off expensive credit card debt,
I’m sure that you’ve heard that your home can be a great asset. Some people will beg to differ if you have a mortgage because you don’t truly own your home. The bank or your lender does. However, you do have some freedom and flexibility when you become a homeowner. If you ever needed to
If you’re a homeowner or aiming to be one someday soon, you probably know that having home equity is a good thing. However, beyond that, many people start to lose track. That’s why we’ve taken it upon ourselves to solve the mystery of home equity once and for all. Read on to learn what it