There are many misconceptions about the credit score needed to buy a house. Recently, it was reported that 24% of renters believe they need a 780-800 credit score to be considered for a mortgage. The reality is they are misinformed! Only 25% of the Americans have a FICO® Score between 740 and […]

Forget student loans. Insufficient income is the No. 1 hurdle keeping many people from buying a home. More than half of the participants in a survey by Bankrate.com cited inadequate income as a barrier to homeownership. The personal finance site polled 2,668 adults between Jan. 30 and Feb. 1. In fact, when […]

For most people, buying a house takes years of planning and preparation. The whole process can be overwhelming, especially for first-time homebuyers. Step-by-step, we’ll guide you through the important decisions that go into homeownership. When it’s over, you could have the keys to your dream house and the biggest investment […]

You signed the papers, got the keys and opened the front door. Now, that quaint little place is all yours. But more freedom comes with more responsibility. A lot changes once you’re a homeowner. Here’s how to prepare for a few of the adjustments — emotionally and financially. 1. You […]

Reverse mortgages were once anathema to savvy financial planning. These loans—which let homeowners over age 62 pull equity out of their homes while still living in them—were viewed as a costly last resort for covering retirement shortfalls. That thinking has changed as older owners find themselves sitting on record levels […]

An installment loan is money you borrow and pay back with fixed payments — or installments — over a period of time, or term. It differs from a revolving line of credit, which you get with a credit card, that lets you borrow funds every time you make a purchase. […]

1. Not Working with a Buyer’s Agent If you’re like many potential home buyers, you scan the listings of available homes in your area, choose one you like, and then call the agent who’s listed on the ad. Big mistake. This agent is the seller’s agent and is legally bound […]

Melissa is a mother of 2, lives in Utah, and writes for a multitude of sites. She is currently the EIC of HarcourtHealth.com and writes about health, wellness, and business topics. The recommended down payment for a new home is twenty percent. Not everyone can afford to put down that much cash […]

The mortgage interest deduction is one of the most commonly utilized tax relief under 26 US Code ( i.e Internal Revenue Code) by an Individual. Section 163(h) of the Internal Revenue Code deals with mortgage interest tax deduction . Here are most common and useful questions and answer on the […]

First-time home buyers, beware! The more experience you have with buying real estate, the more you’ll learn about the complicated process. Between the confusing terminology and the logistics of buying a house, it’s all-too-easy to make the wrong move or wind up in an unwise investment. If you’re a first-time […]