On the one hand, you could have a higher net worth at the end of 30 years if you invest extra money instead of using cash for a house. However, not having a mortgage gives you freedom from mortgage debt. Weight the pros and cons of paying cash versus using a mortgage with your situa...
Can you buy a house with student loans? As a potential homebuyer, your student debt may raise the question, "can you buy a house with student loans?" Learn how you can get a mortgage with student debt. Continue, Can you buy a house with student loans? 1 2 3Footnote...
While it is ideal to have minimal or no credit card debt when buying a house, many individuals find themselves in a situation where they are carrying some level of debt. If you are planning to purchase a home while still managing credit card debt, there are several factors to consider: D...
Most married or engaged couples thinking of buying a house combine their income and credit scores when applying for a mortgage. But sometimes, doing so may not help you achieve your goals, provoking the question: Can a married couple buy a home with only one partner’s name on the mortgage...
Conventional wisdom tells us mortgages are good debt because homes typically appreciate in value, but that doesn't mean you should get a mortgage without careful research. Make sure you understand the following points before buying a home.
13. Close on your house Once all contingencies have been met, you’re happy with the final walk-through and your lender has declared your loan “clear to close,” it’s finally time to make it official and close on your new home. After all of the paperwork has been signed, the home...
It's like renting an apartment versus buying a house. Since the leasing company owns the vehicle, they can place strict limits on how you can use the car, how you can customize it, and in some cases, where you can drive. For example, with some leases, you have to get special ...
buying a house:How much can I afford in monthly housing costs? Am I prepared for a long-term investment? How long do I plan to stay in this home? Do I want stability or flexibility? Can I afford home repairs/maintenance costs? What are my financial, career and family goals? (For ...
Understand Your Debt-to-Income Ratio First The first and most apparent decision point involves money. If you have sufficient means to purchase a house for cash, then you certainly can afford to buy one now. Even if you didn't pay in cash, most experts would agree that you can afford the...
“They don't want to have debt and they don't want to leave a house to their kids or heirs with a mortgage on it," she says. "It's less about affordability and more about legacy and their aversion to having a home with a loan on it.” ...