Traditionally, a lot of home buyers have seen building a brand new home as the ultimate homeowner experience to aspire to. That’s still true, but nowadays, older homes are gaining a lot more interest (just ask the producers over at HGTV). And despite the renewed interest in historic homes and remodels, building a house from
Existing Home Owners
Whether it’s a vacation home or a multiunit rental property with tenants, real estate investors can take pride in their financial savvy. With the right investment property, you’re not only earning income from your tenants, but you’re building equity. The other side of the proverbial coin is expenses. The biggest single expense for investment property
If you’re planning on becoming a homeowner right now, you may be feeling frustrated. Home prices are on the rise and available housing stock is getting snatched up every day. That may leave you wondering if you’ll end up paying more for a house that isn’t even the home of your dreams. What if –
If you’re a homeowner, refinancing your mortgage can be a great way to: Get a lower interest rate (especially if interest rates are low) Reduce your monthly mortgage payments Shorten your repayment period Take advantage of your home equity But before you can enjoy those perks, you have to pay your closing costs. Remember the
Is it even daytime TV if you don’t catch an ad or two featuring charming, silver foxes like Tom Selleck, Henry “the Fonz” Winkler, or Joe Namath telling you about the benefits of a reverse mortgage? The spokesperson may change, but the message rarely does: “You’ve worked hard to pay down or even pay off
Refinancing your mortgage can be a great way to save money or get more favorable terms on your home loan. This is especially true if interest rates are low and your home value has increased since you bought your home. But what if your credit score is standing in the way of refinancing? When you
By the middle of 2021, total U.S. household debt was more than $14 trillion, according to the Federal Reserve Bank of New York. Credit card debt accounted for $1.56 trillion of that total. While Americans have paid down their credit card balances by $140 billion between the end of 2019 and the first quarter of
Cash-out refinancing (or cash-out refi) is a creative way for homeowners to borrow the money they need for big financial goals. Allow us to oversimplify for a sec. It’s kind of like using your house as a piggy bank. Except in this case, you’re finally taking out the money you’ve been putting into it (aka