When is my first mortgage payment due?

May 26, 2018 in Buying a home

When is my first mortgage payment due? You just made a down payment and paid closing costs. Here’s how to determine when your first mortgage payment is due.

costs of owning a home, house expenses, cost of home ownership, homeowner expenses, home expenses

Costs of owning a home: what to expect the first year

May 24, 2018 in Buying a home

The costs of owning a home may surprise you if you’re a first-timer. House expenses should be part of your budget when you buy a home. Costs of home ownership are manageable if you plan ahead.

Earnest money check, down payment and closing costs: When are they due?

May 20, 2018 in Buying a home

Buying a home means paying certain costs at specified times during the process. The earnest money check is one of the first things you’ll pay. But if things don’t work out, you usually get the money back.

Pros and cons of different types of homes

May 18, 2018 in Buying a home

Often, the first step to deciding which home to buy starts with deciding which type of home. Condos, single-family residences, zero-lot-lines — each has its advantages for different kinds of home buyers.

How much do real estate agents make from my home purchase? And who pays?

May 13, 2018 in Buying a home

How much do real estate agents make? And how do real estate agents get paid? Local custom generally determines who pays which closing costs, but everything is negotiable.

What to look for in a home inspection: recognizing the deal breakers

May 12, 2018 in Buying a home

Home inspections can help you dodge bullets While most home inspections go off without a hitch, no home is perfect. What you do with the results depends on the findings and how you structure your home purchase agreement. Here’s what to look for in a home inspection. Minor items can be fixed or ignored Major […]

Discount brokers: Do they really provide 1 percent rebates to buyers?

May 11, 2018 in Buying a home

How do discount real estate brokers work? Do discount brokers save homebuyers money?

How much down payment do you need for a house?

May 11, 2018 in Buying a home

How much down payment do you need for a house? The average down payment is much less than the 20 percent you think you need.

Dual agency can cost you: Beware of “double agents” when buying a home

May 10, 2018 in Buying a home

Dual agency in real estate is almost never a good idea for homebuyers. Here’s why you should avoid it, and how to get your own representation.

Open houses: What’s their role in the home-buying process?

May 9, 2018 in Buying a home

You open a newspaper or website and search for “open houses near me” and spend your weekend checking out homes. But is that really the best way to buy?

real estate recording fees and transfer taxes

Closing on a home: real estate recording fees

May 7, 2018 in Buying a home

Recording fees and practices vary between counties in the US. But the process itself is required for all real estate transactions because they are by law public records Here’s what you need to know.

real estate contract, home purchase agreement

Understanding a real estate contract or purchase agreement

May 4, 2018 in Buying a home

Whether you call it a purchase agreement, real estate contract, or home purchase agreement, this document is one of the most important things you’ll sign in your life. Here’s how to get it right.

How to ask for a raise before buying a home

May 3, 2018 in Buying a home

It’s easier to buy a home when you earn more money. This post shows you how to ask for a raise before you apply for a mortgage.

Home inspection: Check these important systems before buying

May 1, 2018 in Buying a home

A home inspection is not fun or sexy. But, like health insurance, pulling weeds and annual checkups, it can save you money, prevent mistakes and increase your chances of long and successful home ownership.

Types of homes and how they affect your mortgage

April 26, 2018 in Buying a home Manufactured homes Real Estate

Types of homes Different types of homes qualify for different mortgage loans and rates. The main types of homes you can buy are: single family residence manufactured home condominium cooperative (co-op) townhouse multi-unit (2-to-4 unit) properties So how does this work in practice? Your loan availability and what you pay for it depends in part […]

Rough estimates: How to quickly know how much house you can afford

April 25, 2018 in About Mortgages Buying a home

Rules of thumb for home affordability There are several easy rough estimates for how much you can spend on a home. Choose a total payment that is close to what you spend now for rent Select your maximum home price at three times your annual income Choose a total housing payment that does not exceed […]

how to back out of a real estate contract

How to get out of a real estate contract

April 21, 2018 in Buying a home

How to get out of a real estate contract? There are several ways, including HOA kick-out clauses, contingencies and canceling the contract.

Title insurance companies: What is title insurance, and is it required?

April 19, 2018 in Buying a home

What is title insurance? Title insurance companies cover you and/or your mortgage lender if you buy property that others make claims against. Issues can pop up even from the distant past or the future, for example: Your seller purchased the property after an illegal foreclosure sale (not uncommon during the Great Recession) A long-lost relative […]

Do I need a real estate agent to buy a home?

April 18, 2018 in Buying a home

Do you need a real estate agent to buy a house? Not really. But they can save you time and money.

Examine your stage of life: buying a condo vs renting

April 16, 2018 in Buying a home

An age-old question: should I rent or buy? You’re established in your career, and don’t expect to move for a few years. And your last rent increase was sky-high. Perhaps it’s time to examine your stage of life and compare buying a condo vs renting. Most experts believe buying is right if you plan to […]

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