There are many people who purchase a home with a target monthly payment in mind. This monthly payment usually includes major expenses such as the monthly mortgage payment, real estate taxes, and homeowners’ insurance. At the same time, there are other costs as well, such as home repairs and maintenance. In general, homeowners should budget between one and three percent of the home’s value every year to cover typical maintenance and repairs. This does not include renovation expenses, … [Read more...]
Spouse with Bad Credit? 3 Reasons You’ll Want to Consider a Co-signer for Your Mortgage
Obtaining a mortgage can be quite a complicated process even without the financial hurdles, but if your spouse's credit has experienced a number of difficulties, acquiring a mortgage can be even more of a burden. If you're concerned about what bad credit will mean for your mortgage and are weighing your options, here are some reasons why it might be important to use a co-signer for your application. Increasing The Likelihood Of Approval From getting an education to purchasing your first … [Read more...]
What’s Ahead For Mortgage Rates This Week – August 23, 2021
Last week’s economic news included readings from the National Association of Home Builders on housing market conditions and Commerce Department readings on housing starts and building permits issued. Weekly readings on mortgage rates and jobless claims were also released. NAHB: August Builder Confidence Fell to Lowest Level in 13 Months Homebuilder confidence fell to its lowest level since July 2020 according to the National Association of Home Builder’s Housing Market Index for … [Read more...]
Financial Preparation: Millennials Are Getting Ready To Buy Homes
In the current economy, there are a lot of millennials who are thinking about buying a home; however, the price of homes is rising quickly. It can be challenging for millennials to save the money they need to buy a home. When this is combined with other monthly expenses they have, millennials might be financially unprepared to buy a home. Finding the right house takes patience and discipline, so millennials need to avoid jumping in unprepared. What do millennials need to do to make sure … [Read more...]
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