Category: Mortgages

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Loan Approvals 101: How to Navigate the World of Borrowing Money

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Last Updated on February 4, 2024 by Alex Navigating the world of loan applications can be complex, but fear not – you can learn everything you …

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10 Best Cities for Homebuyers With a Household Income of $75,000

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Housing affordability is a growing issue, with homeowners spending a higher proportion of their earnings toward homeownership compared to previous years. The average homeowner paid 26.5% …

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Mortgage, Financing, & Property Loan: How to Get a Loan for a Rental Property

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One of the significant advantages of investing in real estate is leverage: the ability to buy your assets with other people’s money. The property appreciates even …

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Florida Weighs Tying Home Insurance to Unpaid Mortgage Balances

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With Florida homeowners burdened by the highest property insurance costs in the country, the state legislature is considering a pair of bills aimed at reducing premiums …

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New Year, New Home? Tips for First-Time Buyers in 2024

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We’ve all been guilty of setting ambitious New Year’s resolutions and not seeing them through. But if 2024 is the year you want to tick “become …

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The home mortgage interest deduction: What it is & how it works

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The home mortgage interest deduction, which allows you to deduct the interest you pay on your mortgage from your taxable income, can add up to significant …

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FHA loan limits for 2024: How much can you borrow?

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The FHA loan limits for 2024 allow homebuyers to borrow up to $498,257 for a single-family home in most parts of the country. Those purchasing a …

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2024 housing & economic news: Interest rates will fall

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The broader U.S. economy is doing remarkably well in many ways. Unemployment is low, inflation growth is cooling and gross domestic product (GDP) is growing. But …

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What is a jumbo loan and when do you need one?

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If you live in an area with a high cost of living, or if you’re in the market for a more expensive home, you may need …

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A 3%-down rental property loan? How to use Fannie & Freddie loans for investing

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A few years back, Fannie Mae and its brother lender Freddie Mac launched loan programs called HomeReady and Home Possible, respectively. Their purpose? To compete with …

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VA home loan requirements for 2024: Are you eligible?

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The VA loan program, offered by the U.S. Department of Veterans Affairs (VA), provides mortgages to veterans, service members and surviving spouses. VA home loan requirements …

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How to get a VA loan for a manufactured home

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A VA loan for a manufactured home can offer military borrowers a low-cost, accessible path to homeownership. Manufactured homes are roughly half as expensive as traditional …

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How to invest in real estate with a self-directed IRA: Case study

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Ever wish you could invest in real estate tax-free through your retirement accounts? You can. And it’s not hard, either. Look no further than Martha’s story …

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When should landlords refinance a rental property loan?

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Mortgage brokers love to tell you they can lower your mortgage payment by refinancing your rental property. Sometimes they actually can. But is it worth refinancing, …

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44% of Americans think housing market at risk of crashing in next year — and 35% hope it does

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It’s impossible to predict the housing market’s future — but most Americans have a pretty grim outlook. According to the latest LendingTree survey of over 2,000 …

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How to get a self-employed mortgage in 6 steps

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If you’re an entrepreneur looking to buy a home, you may need to file extra paperwork or meet special requirements to qualify for a self-employed mortgage. …

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12 hidden benefits of a high savings rate & the FIRE lifestyle

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Whenever bad economic news dominates the headlines, pundits love to declare “The FIRE movement is dead, long live the FIRE movement!” They shouted it during the …

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You’ll never believe the most popular metro for military veteran homebuyers

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Originally introduced in 1944, mortgages guaranteed by the U.S. Department of Veterans Affairs (VA) have long been part of the homebuying experience. And while today’s VA …

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The “lazy 1031 exchange” – Defer taxes on real estate without the hassles of a 1031

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A few years ago, I sold all of my multifamily properties as well as a few of my single-family turnkey properties. As I was getting ready …

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Average down payments on homes across 50 largest U.S. metros hits bewildering numbers

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Despite high mortgage rates and low buyer demand, home prices are still at record highs in many parts of the country. And they don’t seem like …

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Using a mortgage broker vs. comparing lenders yourself

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With so many mortgage products on the market, it can be difficult to find the mortgage that’s just right for you. This is especially true if …

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8 creative ways to buy property when mortgage rates are high

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  High interest rates and a nationwide housing shortage make for a tough combination for homebuyers and investors alike.   So, what creative financing options do you have …

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Mortgage rates dip even as refinancing demands spike

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  Sales Keep Sliding In November, existing home sales fell for the 10th straight month. This added to an already record-long streak, with higher mortgage rates …

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Considering a reverse mortgage? Read this first

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A reverse mortgage allows homeowners age 62 or older to tap equity without making a mortgage payment on the amount they borrow. However, the most popular …

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This data on mortgage rates & home prices will make your head spin

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  Mortgage interest rates are the percentage of your loan amount that you will pay in interest each year. In the U.S., mortgage rates are steadily …

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Refinance boom dies down as mortgage rates soar

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  For large parts of the past two years, mortgage refinancing has been booming, as historically low mortgage rates and surging home prices created an opportunity …

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The most equity-rich homeowners in America live here

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  Nearly half of U.S. mortgage payers own at least 50 percent equity, according to ATTOM’s Q2 2022 Home Equity & Underwater Report. This means that the balance of …

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Inflation could mean your house is underinsured. Here’s why

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  With home construction costs continuing to soar due to issues with the supply chain, labor shortages, and worsening natural disasters, many homeowners could be left underinsured. …

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Why homeowners in this state are facing an insurance crisis

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  Florida has generated reams of feverish headlines lately for controversies about the teaching of sex and gender issues in public schools, and whether the Disney …

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Why you shouldn’t try to pay off your mortgage too quickly

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  You’ve seen them. Over and over and over again, so-called personal finance gurus railing against debt. But as I pointed out before, they’re dead wrong (in …