By Elizabeth Weiss Living paycheck to paycheck is not uncommon for many homeowners. And sometimes, when you find yourself in a bind and you’re struggling to make the next mortgage payment, you may be tempted to try to skip a payment, thinking you can repay it later once you get back on track. But a passive
By Elizabeth Weiss Living paycheck to paycheck is not uncommon for many homeowners. And sometimes, when you find yourself in a bind and you’re struggling to make the next mortgage payment, you may be tempted to try to skip a payment, thinking you can repay it later once you get back on track. But a passive
You may never have heard the terms transactor or revolver in relation to your credit habits. But if you’re hoping to qualify for a mortgage someday, your credit-paying habits, viewed over time, could be used by lenders to estimate how likely it is you’ll repay your loan. This could make a difference in the terms
You’ve always dreamed of buying that ski cabin or lake house, and you plan to afford it by renting it out when you’re not using it. Good plan, but lender rules don’t allow it. Here’s what you need to know. Loan types and their rules The first step in financing your dream getaway home is to understand
Buying a tiny house is a huge undertaking – particularly from a financing perspective. Tiny house hunters are typically looking for homes that range from 100 to 500 square feet. Many of these home buyers are millennials, who don’t want the hassle of maintaining a large house, says Matt Parker, a real estate agent in
Recently, negative headlines have appeared about how banks “cross-sell” you additional products and services. But cross-selling isn’t always bad for consumers – and, in fact, when it comes to mortgage cross-selling, there are some compelling benefits. Here’s a look at what cross-selling is, and how to know when it can help or hurt your finances. What is cross-selling?
Buying a home can be confusing and emotional, especially for first-timers. It’s a huge expenditure – the largest many folks will make in their lifetime. There’s a lot of information to review and plenty of documents to sign. And, at times, it’s can become hard to tell who’s working for whom. It’s not surprising that
Good economic news isn’t always good for mortgage rates. A stark reminder of this came Friday, August 5 when new data showed that the U.S. economy added 255,000 non-farm jobs in July, blowing out consensus forecasts of just 180,000, and immediately sending rates higher. Does this mean your 2016 refi window has closed? Let’s take
Planning to leave the workplace sometime in the next five to 10 years? Buying your retirement home now can pay off big in the long term, particularly if you’re going to get a mortgage. By making your move ASAP, you’ll be able to capitalize on today’s record-low interest rates. Earlier this month, rates on 30-year
One of the hottest topics in housing is whether it’s better to rent or buy a home. The answer always changes based on market conditions, so it’s handy to use a rent vs. buy calculator to do comparisons on the fly. But you should also know how rent vs. buy calculations actually work so you can feel