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Financing

The 203k Mortgage

Consumers often find ample value in distressed homes – properties that are under a foreclosure order or up for short sale. In many cases, “distressed” speaks more to the condition of the home than their recent financial histories. They may have been empty for extended periods and subject to vandalism …

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Finance For New Kitchen, or Renovating

Are you dreaming of a new kitchen, or, thinking about renovating the bathroom? One of the first things you’ll want to consider is how you’ll pay for that remodel. While it is true that a portion of the costs of many remodeling projects can be recouped when you sell, you’ll …

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Dealing with the Down Payment

Ever dream of owning a home but don’t think you can because you lack the down payment and closing costs? Here are a few tips: Borrow from your retirement account: A 401(k) or traditional IRA may allow a first-time homebuyers to borrow up to $10,000 for their down payment without incurring …

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The Combustible Adjustable Mortgage

You’ll pay a little more for a fixed rate mortgage for the peace of mind that your principle and interest payment will never increase but that’s not always the most appealing choice for some homebuyers.   The longer you intend to stay in your home,–generally five years or more–the safer you …

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Thinking About Co-ownership With a Friend?

Friends often share holidays, vacations and important moments in life. Why not buy a home together? Joint ownership makes sense, especially for those unable to afford a home on their own. Each can enjoy a real estate investment, and can even strengthen the friendship. The opposite could happen as well. …

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