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When it comes to looking at money you owe, not all debt is created equal. While there are many shades of gray in life, there is absolutely good debt and bad debt. And the difference matters, whether you’re taking financial steps to buy a home or prepare for retirement. Let’s take a look at some of the distinctions between them.
The holidays are almost here, but are you financially ready? If you have equity in your home, you may be able to convert it into cash. Many homeowners are taking advantage of low cash-out refinance rates to avoid accumulating further debt, giving themselves and their families the gift of financial flexibility.
While it is true that student loan debt impacts many parts of your life, it does not entirely impact your choice to obtain a mortgage. According to Student Loan Hero, 44.2 million Americans have student loan debt. You may be wondering, how exactly do student loans affect the mortgage process? On the downside, the more loans that you have, the harder it may be to afford a home. Don't worry, paying attention to these factors will increase your chances of obtaining a home:
Buying a home can seem like a daunting task, but it doesn't have to be if you know what to expect. Help ease your stress by getting prepared for the road ahead. There are several steps to buying a home, but we have compiled a checklist to get you to the finish line.
You've found the home you want and you're ready to buy - but how do you determine what kind of mortgage is best for your budget and lifestyle?
Improving your credit score is worth the time and effort, but that does not mean the result is going to be instantaneous. Credit improvement is a process and the best way to improve it is to manage it responsibly. If you are looking for ways to improve your score, here are some tips that you can utilize to begin the process:
A Jumbo loan has a principal loan amount that is bigger than conforming loan limits. For 2018, the maximum conventional loan amount is $453,100 (ranging up to $679,650 in high-cost areas) for a single-family home.
Buying a home is often one of the biggest financial decisions in your life. It can also be nerve-racking, and you may have a lot of questions. Determining how much to spend on a home will most likely be at the top of your to-do list before you begin your search for a home.
Going through the mortgage process involves a lot of questions that can sometimes seem invasive… and yet, some of us share the intimate details of our lives across social media through our online presence with strangers all across the Internet. Guess where a lender might learn more about you?
Once you’ve made it through pre-approval, your house search, making your offer and securing your loan, it’s time to prep for the last step: closing! Unfortunately, closing brings with it another round of costs – some of which may feel like they’re breaking your personal bank. It’s time to look at how to reduce closing costs.
