Of course, there is help from the government to encourage people to own homes, despite stricter mortgage lending rules put in place last year to cool down the market. As discouraging as that may have been for some homeowner hopefuls, remember that our conservative banking practices here have k...
FortuneBuilders notes that when rent increases, fewer people are buying homes in an area. This means many people are turning to the rental market to fulfill their housing needs. As a result, more demand for rental properties allow landlords to increase prices, keeping up with national mortgage ...
FHA loans are designed to make homeownership accessible to people who may have less-than-perfect credit and can’t save up a large down payment. However, you’re required to pay mortgage insurance on an FHA loan (called “MIP” or “mortgage insurance premium”) regardless of how much equit...
“Homes are sitting on the market a bit longer, and sellers are receiving fewer offers. More buyers are insisting on home inspections and appraisals, and inventory is definitively rising on a national basis.” Current mortgage interest rates Mortgage rates impact everything from your monthly ...
The federal government’s Lifeline program was created to assist limited-income households in affording internet. Lifeline provides a discount of $9.25/mo. (or $34.25/mo. for people on Tribal lands). You can use it on a landline, a cellphone plan, home internet service or even an interne...
Down payment assistance programs provide additional help in affording a mortgage. The most common forms of down payment assistance are forgivable second mortgages, grants and matched savings programs. To find down payment assistance programs, begin with your state's housing finance authority. ...
How are so many people affording their dream homes? Get Competing Personal Loan Offers In Minutes Compare rates from multiple vetted lenders. Discover your lowest eligible rate. Get Personalized Rates It's quick, free andwon’t hurt your credit score ...
The structure of people's consumption has also changed over the years, where people have more disposable income to spend on things and activities that meet their higher demand for both material and spiritual enjoyment. They are more willing to spend on travel, luxury goods, foo...
Having two incomes can open up opportunities to purchase more expensive homes than one person alone would be capable of affording. You may have an easier time qualifying for a home loan if you apply together. Additionally, no down payment is required as long as all borrowers meet the program...
When you are "house rich but cash poor," it means you have more equity in your home than cash in your bank accounts. In these cases, most of your money is tied up in your home rather than being accessible liquid assets. If you need to access cash quickly, you may not be able to ...