Anyone who has ever purchased their second home, while also trying to sell the first one, has likely come across the conundrum of bad timing. In other words, if you’re a repeat home buyer, try as you might, you simply can’t coordinate the sale of an old home with the purchase of a new one. […]
First Time
Truly Understanding FHA Loans
FHA loans (i.e. loans from the Federal Housing Administration) have seen their fair share of dramatic swings over the past few years. These have largely been the effect of the subprime lending boom and ensuing market collapse. During the times of the boom, FHA mortgages became very rare, since just about anyone qualified for a […]
How to Buy a House with Mortgage Issues
Buying a house is a delicate moment in any aspiring owner’s life: finding the right one, both for your preferences and your budget, striving to find a suitable mortgage afterwards and so on. But if the process of buying a house is already complicated enough as it is, what can make it more complicated is […]
How to Buy a Multi-family Property: Tips for First Time Buyers
The fundamental difference between a multi-family property and a single-family residence is the potential to generate income. Investors and business-oriented individuals interested in real-estate have been affected strongly by the changes of today’s lending environment, but they continue to buy more properties. Multi-family homes may be a risky investment, but it is also potentially lucrative […]
Is the Simplified Paperwork for Home Buyers Really that Simple?
Earlier this year, it was announced that the CFPB (Consumer Financial Protection Bureau) is working on a new Know Before You Owe mortgage initiative which is expected to come into full effect next summer (in 2015). This new measure is supposed to simplify the process of mortgage lending and buying, which is of course a […]
Advice for First Time Home Buyers: Find a Mortgage Co-signer
What can you do if the house you want to buy is just a little bit more expensive than the biggest sum you’re allowed to borrow, based on your income and credit history? Don’t worry, there’s a way out of this tight spot, provided you have someone to help you out. Some types of loan […]
What Can You Do If Appraisal Comes In Low?
Buying a new house can be a source of great anxiety about all kinds of things, and especially about the legal implications of the contract, as well as the rights and options you have as a buyer. Not many home owners can afford a whole legal team to have their backs and sort out all […]
Want to Purchase a Home? All You Need to Know about Title Insurance (for First-Time Home Buyers)
Many first time home buyers tend to be very hopeful and enthusiastic when they can finally afford to purchase a home and start looking for one. And by all means, they have every reason to be, especially given how unpredictable and troubled today’s economy is; but this enthusiasm shouldn’t blind the prospective buyers from the […]