If you love to tear up carpet or install drywall, flipping houses might be for you! Home renovation tv shows have popularized the idea of buying a house that needs a little work, adding some do-it-yourself renovations, and selling at a higher price. But if it were that easy, everyone would do it! While flipping […]
If you are in the housing market and like the idea of scoring a deal on a house, a fixer upper might be the right choice for you. Fixer upper houses can be a great way to purchase a house below market value, and who doesn’t like the sound of that? But before you make […]
Home inspections are not required by law, so it can be tempting to skip them. Inspections cost money – and when you’re buying a house the expenses add up quickly and you might feel that adding inspection fees on top of everything else is just too much. On the other hand, thorough home inspection before […]
If you have a move in your future, there are definite ways to make the process go as smoothly as possible. Plan ahead and you’ll avoid these 8 costly moving mistakes. 1. Moving on the same day of closing While most buyers take possession of their new home on the day of closing, there are […]
Once you’ve decided to purchase a new home, the next step is to calculate how much you can afford. Your price limit will depend on your current financial situation. Which means you need to compare your income and expenses to determine how big a mortgage you can take on. You’ll also need to calculate how […]
When it comes to selling a home, it’s best to have an agent present the house. They’ll present the house from a sales perspective and know the right things to say. It’s also preferable for you to be away from the home during the showing or open house. This will make potential buyers feel more […]
If you are thinking of buying a house, chances are that you’ve considered popping into an open house–and maybe you already have! Especially if you are just dipping your toes into the housing market, an open house can be a great way to start your search for the perfect home. As a buyer, an open […]
A home equity loan is one which lets you borrow money using the equity in your property as collateral. Equity is the amount of money you’ve already paid on your mortgage. With this loan, you can borrow against the equity. What you do with the cash you receive is up to you. However, there are […]
About Mortgage Interest Rates Federal Rates Mortgage interest rates are dependant on federal interest rates, which the Federal Reserve influences. The aim of the Federal Reserve is to stimulate the economy while avoiding inflation. By setting terms for the federal funds rate (the interest rate which banks charge each other for short-term loans). And the […]
Normal Closing Costs Closing costs can be highly variable since they’re dependant on the size of the mortgage and the value of the property. Typically, closing costs are between three and five percent of the property’s value, and may include the following: Loan origination fees – also called points (one point equals one percent of […]
