If you’re looking for a new place to live, you might find yourself seeing a lot of condo or apartment listings. On the surface, these dwellings have a lot in common, and it can be hard to tell the difference from pictures alone. We’ll explain the differences and the pros and cons of each type
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If you want to unlock maximized investment returns on your bank account and other financial vehicles, understanding APY is vital. This powerful metric allows investors to compare opportunities and assess long-term growth potential. By calculating APY, you can make informed decisions about allocating your funds and watch your profits soar. Here’s a guide to the
Can you buy a house with Bitcoin or another type of cryptocurrency? Maybe – if you’re buying a home without a mortgage loan. But if you want to finance the purchase of a home with a mortgage, you’ll usually need to rely on old-fashioned U.S. dollars. However, that doesn’t mean cryptocurrency – digital money like
If you’re looking for a house, chances are you’ll come across listings that are classified as contingent. But what does that mean? Well, the word “contingent” means something will only happen if certain conditions are met. We’ll explain what that means in practice and how prospective buyers should think about contingent homes. Defining Contingent in
One of the biggest financial arguments for purchasing a home is that it allows you to build equity. You may have also heard it’s one of the most straightforward ways to build wealth. But what does that mean? We’ll explain what equity is, why it’s beneficial for homeowners and the different ways you can use
One of the most challenging aspects of buying a home can be finding the right property at the right price. Buyers in search of serious bargains often turn to distressed properties to find an affordable home. And while you can get a good deal on a distressed property – where there is a reward, you’ll
If you want to purchase a home, you’ll likely find yourself perusing real estate listings. If you look at enough of them, odds are you’ll see one described as a turnkey home. But what does that mean? We’ll explain what turnkey properties are, who they’re a good fit for and the pros and cons of
If you’re considering buying a home in a rural area, there’s a good chance it will be serviced by well water instead of city water. But is well water versus city water an important factor to consider when buying a home? We’ll explain how homes supplied by well water work and outline the required upkeep.
Maybe you’ve heard the adage “most jobs aren’t advertised.” While this may not be true, the sentiment that not all opportunities are open to everyone absolutely applies to buying a new home. Plenty of homes are sold without ever being listed. Pocket listings are a way for homeowners to sell their home discreetly without dealing
The final walkthrough is one of the last steps to buying a house. But this isn’t the time to let your guard down. You don’t own the home yet. If you’re a first-time home buyer, you might wonder what to expect and look for. We’ll go over all of that and include some tips for
A lot goes into buying a house. Considering it’s one of the biggest purchases people are likely to make in their lifetimes, it makes sense they’d want to know as much as possible going in. We’ll go over the most important things to look for, but know there’s no one-size-fits-all evaluation for houses. Some things
Buying a new home is stressful – so is selling a home. Doing them both at the same time can be overwhelming. We don’t say this to scare you, but we want to be honest about what you’re taking on. The good news is we’ve broken down buying and selling a house at the same
The U.S. Department of Veterans Affairs (VA) reported that in 2022, nearly 750,000 VA home loans were issued, and the average loan amount was $343,895.[1] For veterans and service members (and their families), a VA loan remains one of the most viable paths to homeownership. Those interested in the program typically have questions about the
Saving enough money to buy a house is a challenge. But there’s strength in numbers, and if you’ve found yourself wondering if you can buy a house with a friend, you certainly aren’t alone. The short answer is yes, you can buy a house with a friend. In fact, more and more Americans are doing
With perks like no required down payment and free mortgage loan counseling, it’s no wonder U.S. Department of Veterans Affairs (VA) loans are a popular option for the military community. The catch is you must meet minimum service requirements to apply for a VA loan. However, with joint VA loans, non-military borrowers also have an
Purchasing a home can be an intense process, and one of the biggest hurdles comes at the end: closing on the home. From title searches to inspections and appraisals, a lot needs to happen before you get the keys. But who pays for closing costs, the buyer or seller? The short answer is it’s negotiable,
Buying and selling property isn’t something to be taken lightly. It’s a complicated process involving large sums of money, binding legal transactions and a lot of documentation – hence the need for real estate lawyers. Real estate attorneys are certified professionals who are licensed to practice real estate law. While commonly referred to as real
Looking to buy a home for a low price? Maybe you’re interested in renovating that home and selling it for a significant profit. If so, buying an abandoned home might be the right choice. However, buying an abandoned property comes with risk. The home you buy might need significant and costly repairs. You might be
Whether a charming neighborhood or a unique property catches your eye, there are many reasons people fall in love with historic homes. But before you put in an offer, there are some key ownership differences you should be aware of. We’ll explain what makes a home historic, the special considerations for owning one and the
Regardless of whether you’re buying or selling a home, chances are you’ll be working closely with a real estate agent. But if you don’t have an agent yet, you might find yourself wondering what exactly a real estate agent does and whether you really need one. We’ll explain what real estate agents are, what they
Not every homeowner starts with their dream home. Many Americans begin building equity with fixer-uppers. Other times, savvy investors might see the potential in a property after upgrades are made. If you’re interested in financing upgrades to a property, a Fannie Mae HomeStyle® loan might be right for you. We’ll explain how the program works,
Founded by Congress in 1970, Freddie Mac exists to provide liquidity and stability to the U.S. mortgage market.[1]Their core mission is to ensure a reliable and affordable supply of mortgage funds. In theory, this helps keep interest rates lower and makes mortgages affordable for more Americans. Designed to help very low- to low-income borrowers become
House hunting can escalate quickly. From casually browsing online and falling in love with a property to seriously considering putting in an offer, it can be a shorter leap than people realize. That said, it’s still a good idea to see a house in person before making any decisions. But what do you need to
Whether you’re worried about your carbon footprint or trying to save on utility bills, there are many benefits to considering an energy-efficient mortgage (EEM). EEMs, also known as green mortgages, are loans that can be used to finance energy-efficient improvements to an existing home or purchase a home that’s already energy efficient. We’ll cover EEM
Fewer than 10% of new U.S. home purchases are paid for in cash.[1] The vast majority of Americans pay for their homes through a mortgage. This means that in addition to the overall cost of the home, you’ll also need to consider how much you can afford in a monthly mortgage payment. Your income is
If you’re considering applying for a mortgage, there are several factors you’ll need to keep in mind. In addition to your mortgage term, closing costs, and other variables, you’ll also need to be mindful of your prospective mortgage rate. Naturally, this leads future homeowners to ask a lot of questions, such as: When I applied
Depending on where you live, you might qualify for a USDA loan. For those looking to buy a home, this begs the question: should you pursue this option instead of a conventional loan? We’ll explain the differences between conventional and USDA mortgage loans, their requirements and the pros and cons, so you can make the
Even with fluctuations in the housing market, homes remain expensive – especially new construction. In November of 2022, the median sales price for new construction was $471,200.[1] Alternative housing, in the form of mobile and manufactured homes, offers Americans a significantly cheaper path to homeownership. The average sales price of new manufactured homes was $86,500
Is buying a house a good investment? The short answer is usually yes – but only if you’ve considered all the potential financial rewards and risks associated with homeownership. While buying a home can be incredibly rewarding when done right, it’s crucial to understand that the profitability of a home purchase will depend on many
Unforeseen expenses can pop up even if you’re well prepared. Events like a medical emergency, car accident or job loss can all affect your personal finances and make it difficult to cover monthly bills – especially if you don’t have an emergency fund. Fortunately, many financial institutions offer hardship loans that help people through challenging
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