Finding the ideal interest rate and annual percentage rate (APR) on a home loan can seem like playing the old pea and shell game at the carnival. Except this time, the stakes can add up to thousands of...Read More
Should you pay off your mortgage early? It's hard to argue against the sense of freedom and accomplishment a homeowner feels when they make their last mortgage payment. A borrower on a 30-year loan can...Read More
Should you borrow against your 401k for house down payment?In some ways, it can seem like an ideal match. A house down payment can be a difficult lump sum to accumulate, and your 401k balance may be your...Read More
No income verification mortgages still exist, but they are extremely difficult to obtain. Most of these mortgages are offered to self-employed professionals who are, in turn, required to make a significant...Read More
Mortgage insurance is required of all consumers taking a loan on a home on which they cannot afford at least a 20 percent down payment. The insurance offsets risks posed to the lender. In conventional...Read More
Can you afford to buy a home?It depends largely on where you live. The salary requirements to buy a house vary from an annual income of $208,813 in the most expensive US housing market to $18,411 in the...Read More
Private mortgage insurance (PMI) is required on all home loans, whether they're applied to non-government (conventional) or Federal Housing Administration (FHA) mortgages, where the borrower puts less...Read More
Home prices have been rising since early 2012, but so far this year the pace of increase has slowed. That change in dynamics could affect the best strategy for buying a house in today's market.