Home equity is a valued resource, and if you have it, you might be tempted to tap that wealth for other purposes. A home equity loan, which allows you to use your home’s equity as collateral, is a great way to do this. But depending on your personal situation, it may not be the right
A home is often the biggest financial investment you’ll make in your lifetime. In fact, a recent Zillow analysis reports that the typical American homeowner has 40 percent of their wealth tied up in their home. Several years ago, I wrote a complete guide to financial planning on one index card, which went viral and
Thinking of buying a home this year? We compiled five New Year’s resolutions that can help you keep your financial resume in tiptop shape. 1. Avoid job hopping Employment history and income are two of the biggest factors lenders look at when evaluating a mortgage application. A new job may be a good career move, but
If you’re a recent college grad, you’ve likely heard speeches about pursuing your passions and believing in yourself, but you probably haven’t heard much about establishing a good credit history. Here’s what you need to know. It matters – a lot Qualifying for mortgages, auto loans, apartments and even jobs has become dependent, to some degree, on your
Why pay full price for something if you can get what you want, plus another item, at a discount? This is called bundling, and researchers have been studying the pros and cons of it for decades. Although many consumers think of bundling as a modern concept – it’s often used to combine TV, internet, and
By the time you get the keys to your new construction home, you might feel stretched thin in the finance department. From earnest money and design center upgrades, to closing costs and moving expenses, buying a brand-new home is never cheap. As you take a look at the costs on the horizon, it’s wise to
Rising mortgage rates decrease how much home you can afford, but you have more flexibility than you might think because of how lenders qualify you. Let’s recap the wild ride rates have been on since November, then review how this impacts affordability, and how you can qualify for the most home possible. 2017 rate recap
Buying a home is the largest purchase many consumers will ever make, and many will turn to a lender for financing. But finding a lender you click with can be a challenge, especially if you wait until the last minute. Li-Ning Huang, a research manager on Fannie Mae’s economic and strategic research team, says buyers
The holidays tend to arrive much faster than we expect. From gift-giving and parties to decorations and other celebratory indulgences, we often forget that holiday costs add up quickly. And while the winter season is often considered the most wonderful time of the year, it’s not uncommon to feel the financial pressures associated with holiday
The holidays tend to arrive much faster than we expect. From gift-giving and parties to decorations and other celebratory indulgences, we often forget that holiday costs add up quickly. And while the winter season is often considered the most wonderful time of the year, it’s not uncommon to feel the financial pressures associated with holiday