There are many people who dream of owning a home, but you need to purchase your home for the right reasons. Simply purchasing a house because other people are doing so is not a strong reason to make such an expensive purchase. What are some of the reasons why you should purchase a house? What are some examples of bad reasons to buy a home? The Right Reasons To Buy A Home There are several strong reasons why you should consider purchasing property. If you have children, you may want them to attend a specific school. Therefore, you might be interested in purchasing a house in that school district. If you plan on being in a house for several years, you may be able to financially justify this … [Continue Reading...]
Whether you're a first-time homebuyer or an experienced real estate investor, if you are planning to borrow funds to buy a home you will want to choose the right mortgage product. In today's blog post we'll explore how interest-only mortgages work and why they're the perfect choice for some homebuyers. How Interest-Only Mortgages Differ From Conventional Ones As the name suggests, interest-only mortgages are loans where you are only required to pay off the interest portion of the loan each month for some specific term. The length of these loans can be up to ten years, although five or seven is the most common. Once this period is over, you will have some options. Some choose to refinance … [Continue Reading...]
Last week’s scheduled economic news included readings on monthly and year-over-year inflation and the University of Michigan’s preliminary reading on consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released. Consumer Price Index: Inflation Shows Signs of Slowing Government readings on October inflation showed signs of stabilizing and even slowing. The Consumer Price Index for October showed month-to-month inflationary growth of 0.40 percent as compared to the expected reading of 0.60 percent and September’s reading of 0.40 percent growth. Year-over-year inflation rose by 7.70 percent as compared to the expected reading of 7.90 percent and … [Continue Reading...]
U.S. military veterans have opportunities to enjoy some richly-deserved benefits in other aspects of their lives, including some special options for financing their homes. VA loans may give active military personnel, retired veterans, and sometimes surviving family members of veterans the ability to purchase homes that might not prove available to them through more conventional mortgage loans. But the mere fact that you can do a thing doesn't necessarily mean that you should. In some circumstances, military home seekers may find other types of loan options more amenable to their specific needs. If you've decided to pursue a mortgage loan during or following your military career, … [Continue Reading...]
With the new year right around the corner, that leaves you with precious little time to get your finances in order. Let's explore a few tips that will help you get a jump on improving your credit score before the end of the year. Grab A Fresh Copy The first step is to order a fresh copy of your credit report from one of the major agencies. The Fair Credit Reporting Act allows you to access a free copy of your credit report once every 12 months. So, if you have not ordered a copy recently, it is time to do so. You can access this free service through AnnualCreditReport.com, which is a website recommended by the Federal Trade Commission. Clean Up Anything Outstanding Now that you have a copy … [Continue Reading...]
What do you need to do if you want to improve the safety and functionality of your home? You may not think that your home has a lot of safety hazards, but you might be surprised at how many people get hurt at home every year. Particularly if you have older people in your home, or if you have people in your house with disabilities, you need to pay close attention to your safety and functionality. What are a few tips you should keep in mind? Target The Lights In Your Home If you have an older home, it may have incandescent light bulbs in it. Pay attention to the lights in your home, and make sure they maximize the light in every room. If the bulbs are too dim, it may be a challenge for … [Continue Reading...]
