After you buy a home, the first thing that probably comes to mind is how much it’s going to cost you every month. There’s the monthly mortgage payment, insurance, repairs, maintenance, utilities, etc. And don’t forget the taxes. Regardless of where you live, you will owe property taxes. Fortunately, most states offer an easy way

When you have a mortgage, you are not the owner of your home – at least, not yet. Until the property has been paid off in full, a portion of your home is owned by the mortgage lender.  Eventually, if you keep making your monthly mortgage payments, you’ll own your home in full. This process

If tapping into your home’s equity is in your future, so is a whole lot of paperwork. And whether you’re taking out a home equity loan or a home equity line of credit (HELOC) (both are types of second mortgages or junior liens), you may be presented with a subordination agreement to sign at closing.

If you spend any time around homeowners, you’ll probably hear at least one of them talk about making an extra mortgage (or principal) payment to pay off their mortgage faster. This process is sometimes called mortgage curtailment or a principal reduction (although most people don’t use that term in casual conversation). It’s a common strategy,

The mortgage interest deduction is a popular tax break that allows homeowners to write off the home loan interest they pay each year.  But what about considering the deduction for a second home? What qualifies for the mortgage interest deduction? And more importantly, can you deduct mortgage interest on a second home? The short answer

Mortgages can last for 10, 15 or 30 years. Naturally, this creates ongoing responsibilities for both the borrower and the lender. If a mortgage is active, it will need to be continually serviced, and the process often contains a lot of moving parts. While one mortgage lender will want to manage your mortgage loan for

In the U.S., most people own their home for about 13 years, after which they hope to sell the property for a profit.[2] Naturally, you’re probably curious about home appreciation and how much it affects the value of your home today and in the future.  Understanding home appreciation is important because it can give you

If you’ve never been to a closing, it pretty much looks like this: You sign a bunch of paperwork, pay your closing costs and get a mortgage. Then the moment you’ve been hotly anticipating arrives, and you finally get the keys to your new home from your real estate agent.  Once you’ve cemented your status

When you got your mortgage, you might have applied with a spouse or other co-borrower to get better mortgage terms, split the financial responsibilities or because you wanted to live together.  But life happens and things change. Maybe you’re getting a divorce or you’ve decided you want to live on your own. Now you’re probably

We talk about land loans a lot less than home loans. And that’s not surprising. According to the National Association of REALTORS®, 87% of home buyers buy existing, previously owned homes.[1] But some life goals may need a piece of land as their launchpad. And there are lots of reasons why someone might buy land,