What Steps Need To Be Taken To Secure A Loan You’ll see some pictures in this video to help you remember later, but the first step in securing a loan is to complete a loan application. To do so, you'll need the following information. Pay stubs for the past 2-3 months. W-2 forms for the past 2 years. Information on long-term debts. Recent bank statements tax returns for the past 2 years. Proof of any other income. Address and description of the property you wish to buy. A sales contract on … [Read more...]
Federal Reserve Raises Short-Term Interest Rates
After prolonged speculation by economic analysts and news media, the Federal Open Market Committee of the Federal Reserve raised short-term interest rates for the first time in seven years. Committee members voted to raise the target federal funds rate to a range of 0.25 to 0.50 percent from a range of 0.00 to 0.25 percent to be effective December 17. The good news about the Fed's decision is that the Central Bank had enough confidence in improving economic conditions to warrant its decision. … [Read more...]
Buying or Selling a Home This Winter? Keep These Tax Tips in Mind!
With all of the expense that can go into buying and selling a home, it's good to be aware of what you can claim and how a home can benefit you come tax time. When the New Year rolls around and you're sitting down to the task of completing your taxes, here are a few things that you'll want to keep in mind. Gaining from Capital Gains In the event that you've made money off the sale of your home through a capital gain, it's possible that you may be able to exclude this amount from your tax filing. … [Read more...]
Refinancing This Winter? Follow These 5 Expert Tips to Get the Most from Your Mortgage
Refinancing a mortgage is a great way to take advantage of historically low interest rates or change your payment terms to be more affordable. And with interest rates at historical lows, there's never been a better time to refinance your mortgage. If you're planning to refinance your mortgage this winter, though, you'll want to make sure you get the best possible deal. How can you make sure that your mortgage works for you, and not the other way around? Here's what you need to know. Know What … [Read more...]
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