Receiving an offer to refinance can feel like a rite of passage for new homeowners. Oddly enough, it normally doesn’t take long for the offers to appear. That may be because you can generally refinance a mortgage in as little as six months, according to NerdWallet. Whether you express interest or not, the offers to …
How to Finance a Home Renovation
They’re practically everywhere. Whether you’re flipping through television channels, browsing online, or thumbing through a magazine, you’re liable to encounter home renovation TV shows and advertisements that tempt you to give home renovation a try. Wondering how to finance a home renovation? You’re certainly not alone. Fortunately, there are plenty of possibilities.
Understanding Bi-Weekly Mortgage Payments
If you want a word that encourages clarity and understanding, bi-weekly isn’t it. After all, as Merriam Webster indicates, this adjective can mean either that something happens twice a week or that something happens every two weeks. However, the prospect of saving a substantial sum on your mortgage is generally enough to get people to …
Can You Get a Mortgage to Renovate a House?
There are so many reasons to consider home renovations. You may be a homeowner who needs to update the home that you bought a decade ago so that it’s a better fit for the life that your family leads now. Or, you might have inherited a home from a family member or friend, and you …
How Much Money Do You Need to Buy a House?
When you’re contemplating a purchase, it’s only natural to wonder how much money you’re going to need to pull it off. For aspiring homeowners, the question can be particularly complicated. After all, there are a variety of costs involved in the purchase, and you need to be prepared for them. How much money do you …
How Does a Mortgage Affect Your Taxes?
There’s no denying it: A mortgage is an incredibly useful thing. After all, few people have the cash on hand to purchase a home outright. If you don’t, getting approved for a mortgage is generally an essential step along your journey to homeownership. However, the impact of having a mortgage doesn’t stop when you accept …
What Is Included in Closing Costs?
When it comes to buying a home, people often focus on either the down payment or the purchase price. However, there’s another expense that homebuyers will need to come up with before they’re allowed to collect the keys to their new home: the closing costs. Knowing what to expect allows you to be prepared when …
Should I Refinance My Mortgage?
When your inbox and mailbox are constantly flooded with offers to refinance, then it’s only natural to ask the question: Should I refinance my mortgage? Considering your situation, options, and goals carefully can help you make a smart choice.
When Is My First Mortgage Payment Due?
You can close your eyes and picture it: You get preapproved for a mortgage, find the home that suits your needs, and make a convincing offer that’s accepted. Then, you work to get everything in place so that you can close the deal. Now, as a brand-new homeowner, you’re confronted with an important question: When …
Down Payment Assistance Programs
If you dream of becoming a homeowner but find the prospect of coming up with a down payment daunting, then a down payment assistance probably program seems like a delightful idea. Understanding how down payment assistance programs work and recognizing the potential pros and cons can help you decide if they’re an idea worth pursuing …