Mortgage Tips
Simple mortgage tips to help you better prepare for the mortgage process and ideally save money on your mortgage.Condo vs. Townhouse: Why It Matters
It’s been a while since I’ve done a matchup, so let’s talk about an important one if you’re in the market to buy real estate. Today, we’ll breakdown the similarities and differences of a condo vs. townhouse. First things first, ... Read More »
What Is a 3/1 ARM?
If you haven’t been feeling 30-year mortgage rates recently, maybe an ARM might suit you better, especially if you don’t plan to stay in your home for a very long time. There are a variety of adjustable-rate mortgages available to ... Read More »
What Does It Mean to Be House Poor?
If you’re an existing homeowner or an aspiring one, you may have heard the phrase “house poor,” typically uttered by an overextended borrower. It may also serve as a warning to a first-time home buyer. First, let’s define what it ... Read More »
What Is a Letter of Explanation?
Mortgage Q&A series: “What is a letter of explanation?” If you’re currently going through the joyful process of obtaining a home loan, you may have been asked to furnish a “letter of explanation” or LOE to provide a little more ... Read More »
What Is a Gift Letter for a Mortgage?
Mortgage Q&A: “What is a gift letter?” A reader recently inquired about mortgage gift letters, so instead of simply answering their question, I figured I’d write an entire post on the subject to help others better understand this topic. If ... Read More »
HUD Homes: Buy a Foreclosed Home for a Potential Discount
With the red hot real estate market showing no signs of letting up, prospective home buyers need to get increasingly creative in order to land their dream home, or any home for that matter. The fact of the matter is ... Read More »
Airbnb Income Can Officially Be Used to Qualify for a Mortgage Refinance
Call it a sign of the times, or perhaps the power of the sharing, or “gig” economy. You can now officially use Airbnb income to qualify for a mortgage refinance with select lenders. Yes, if you’ve been renting out your ... Read More »
10 Reasons to Buy a House Other Than for the Investment
There are a lot of good reasons to buy a house, and probably a lot of bad ones too. But all too often, folks seem to get fixated on the investment side of things above all else, as if they’re ... Read More »
HELOC vs. Credit Card: Why the Plastic May Work Out Better
You may have heard recently that “tappable” home equity has reached an all-time high, thanks to rapidly appreciating home prices and conservative borrowing on behalf of existing homeowners. If you haven’t, know that some 42 million homeowners have around $5.4 ... Read More »
Rent or Buy in 2018? More than Half of Markets Still Favor Buying
It’s a new year, but the rent vs. buy a home argument hasn’t gone away, or become any clearer. It’s always a complicated decision, with or without confusing tax changes. At the same time, it’s a personal question with a ... Read More »
