While you may feel ready to purchase your first home for you and your family, you need to be sure that you know what you’re getting yourself into financially. You know about the mortgage payments, along with the initial down payment that you’re going to make on the home, but there are other costs that …
There are many mistakes that homeowners make when they’re selling their house that ends up with their property staying on the market for long periods of time. Once the home becomes complacent on the market and doesn’t attract any buyers, its value significantly decreases and leaves the owner with little to no choice but to …
Deciding between a 15-year mortgage and a 30-year mortgage may seem like an easy choice for you – depending on your income level. Many people prefer going with a 30-year mortgage because of the lower monthly payments compared to the 15-year loan. While this is true, interest accumulated over the span of the extra 15 …
When you retire, there are many things that you need to consider. Some retirees look to downsize but many carry emotional ties to their house which makes it harder for them to leave. What you need to keep in mind is what is more beneficial for you and your lifestyle. Consider Downsizing When you …
Buying a house is a huge accomplishment. Not only will you feel a sense of independence, but owning such an expensive asset is a major milestone in your life. Before you decide on financially committing to a home, make sure you do not make these mistakes which can haunt you for a lifetime. Mortgage Monthly …
Interest rates for home mortgages are still at historic lows. Even everyone expect the Federal Reserve to start hiking interest rates, current rates are an incentive for those who are looking to buy a home. Here are other advantages of buying a home. Equity: As the value of home increases over time your mortgage debt …
Most of us buy a home to live in. There are many tax advantages that come with buying a home. Do not mistake them as tax credits; these are deductions that will result in lowering your adjusted gross income which your tax liability is based on. Deduction for mortgage interest: Reported to you and the …