If you are thinking about building your own home, you might be wondering how construction loans work. There are plenty of options available, but one of the most popular choices is a single-close construction loan. This type of loan allows you to close on not only the construction expenses but also your financing costs at the same time. Essentially, a single-close construction loan will convert into your mortgage after the construction on your home is finished. What are some of the top benefits … [Read more...]
Moving From An Apartment To A House? Here’s What You Need To Remember About Your Lease
The major problem that the vast majority of buyers will run into - especially when purchasing their first home - has to do with a lease agreement that is still active with their apartment complex at the time of the purchase. If you locate the perfect home in February but your lease isn't over until August, you can't be expected to wait around. But at the same time, the remainder of that lease agreement could represent thousands of dollars that you'll be paying to essentially "live" in two … [Read more...]
What’s Ahead For Mortgage Rates This Week – February 27, 2023
Last week’s economic reporting included readings on sales of previously-owned homes, the minutes of the Federal Reserve’s most recent Federal Open Market Committee meeting, and weekly readings on average mortgage rates and jobless claims. Federal Reserve leaders raise key interest rate range The Federal Open Market Committee of the Federal Reserve raised the Fed’s key interest rate range by 25 basis points to 4.50 to 4.75 percent. Fed officials cautioned that failure to ease … [Read more...]
The Top Reasons To Stop Renting And Buy Today
Buying a house can be expensive, and it can take a long time to save up money for a down payment; however, it might be time for you to stop renting and buy your own place. What are some of the top reasons why it might be time to put down some roots? Your Rent Is Going Up The reality is that your rent will go up with time. Every time you renew your lease, it can be frustrating to see that rent check continue to increase. If you are tired of your rent going up, get a mortgage. You could lock in … [Read more...]
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