Should I buy a new home or a used home? It’s a question confronting all homebuyers. While there are some advantages of buying a new house, a strong case can also be made for purchasing an older property. For buyers who are on the fence between buying a new or […]

WASHINGTON, D.C., USA — Buying a home can be the happiest time in a person’s life. But understanding mortgage loan rates can be highly stressful. Here are answers to some frequently asked questions from The Yi Team of Fairway Independent Mortgage Corp. Q. Should I make extra payments on my mortgage […]

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 […]

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 […]

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 […]

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 […]

According to a Homes.com survey, buying a home is the most stressful life event for some… There was a time when you could get a mortgage, regardless of your credit score. There were no-credit loans, loans for people without incomes or assets, and even home loans for people who had […]