The golden rule in real estate has always been “location, location, location.” But apparently, a few modern home features—sprawling master bathrooms, luxurious outdoor lounges and his-and-hers closets—can make buyers forget about location. A study released from homebuilding company Pulte Group, found that all but 1 percent of respondents would be willing to sacrifice some aspect of their [...]
When you’re shopping for a mortgage, it can be hard to decide what the best option is for you. Should you take the lower interest rate of an adjustable rate mortgage (ARM), or is it better to lock in your rate for 30 years? The Consumer Financial Protection Bureau (CFPB) suggests seven things to keep [...]
Among all the paperwork that is exchanged during the home buying process, the Good Faith Estimate is arguably the most important piece of information a mortgage lender will give you. A Good Faith Estimate, or GFE, is a document your lender gives you that describes the basic terms of the loan and estimates how much [...]
In January, 33 percent of existing-home sales transactions were all-cash purchases, according to the National Association of Realtors. Many of these cash buyers are investors, but an increasing number are move-up or first-time buyers who know they’ll get a better deal with cash if they can figure out a way to raise the money. Sellers [...]
Last year, home prices were on the rise, and consumer confidence followed. The upswing in home prices set high expectations for a continued housing recovery, and many homeowners saw a light at the end of the tunnel for the first time in a few years. Unfortunately, though, not every homeowner was smiling when the year [...]
The final home walk-through before closing is an important time for homebuyers and sellers. To make the most of it, it’s helpful for both parties to know what they should look for ahead of time. A walk-through before closing can help homebuyers avoid getting burned if sellers leave the home in worse condition than it [...]
Making a low-ball bid can be risky, but if your dream home is out of your price range, it might be your only chance of owning it. There are ways to make your low-ball bid attractive to the seller and real estate broker, not offensive. Present the offer well and sellers could be enticed to [...]
Being prequalified or preapproved for a mortgage can help you determine how much home you can afford. If you are a potential homebuyer hoping to secure a new home that is within your family’s budget, get prequalified or preapproved for a home loan and determine the mortgage payments you can afford for your dream home. [...]
As we start fresh every year, I try to share my list of resolutions to get your finances in order and help you buy a house. The real estate market hasn’t had much good news for the past few years, and mortgage lenders have gotten even tighter with their lending regulations. This isn’t a particularly [...]
While we all have seen shows on dream homes, we may not be able to afford those homes and may not want to actually live in those dream homes. You need to know how much you can afford when buying a house. When you know the amount, you still need to feel comfortable spending that amount on a monthly basis. A big mistake home buyers make is thinking they can afford a home and then realizing that they are spending too much of their money trying to keep their home. It's a common home buying mistake to buy more than you can comfortably afford. Make sure you are comfortable with your monthly home budget.
