Buying a home is one of the largest investments you will make in your life, and that's why so many people have longer mortgage amortization periods to pay down the principal. While it may seem appealing to have a longer amortization period, here's why an extended loan term can end up costing you more and may be less financially beneficial when it comes right down to it. About Mortgage Amortization Generally speaking, a 25-year mortgage amortization period can be typical, but there are many loan … [Read more...]
Trim Your Mortgage Closing Costs by Following This Easy 3 Step Guide
You may be so busy with determining your debt-to-income ratio and deciding what kind of offer to make that closing costs have gotten lost in the mix, but it's important to remember that finalizing your mortgage will cost you extra. While there's no way to get around paying money to solidify your mortgage, there are a few steps you can take in order to make it more economical for you. Shop Around For A Lender Many people go with the lender that is offered to them, but it's a good idea to do the … [Read more...]
Is It Still Possible to Get a Mortgage With Zero Down? Yes – and Here’s How
When it comes to investing in a mortgage, the down payment is key in making your investment a reality and proving to lenders that you're a safe bet. However, while most opportunities for putting zero down on a home have disappeared since the recession, there are still a few ways to buy without putting money down. If you're currently weighing your options, here's what you need to know if you don't have a down payment ready. Loan Programs With No Down Payment There are still a number of zero down … [Read more...]
Buying a New Home? Three Major Mortgage Missteps That You’ll Want to Avoid
Buying a home is one of the biggest financial investments you'll make in your life, and it's important to make sure that you're doing what will be right for you down the road. If you're trying to avoid buyer's remorse and are wondering what major missteps to avoid when diving into the market, here are a few things you may want to watch out for. Buying Too Much Home It's often the case that a homebuyer will get so excited about a home they see that they need to have it, but putting all of your … [Read more...]
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