Homeowners insurance and title insurance may not be the only kinds of insurance you need when you buy a home. Many buyers also have to purchase mortgage insurance, which lenders require for mortgages with a down payment of less than 20 percent. Take the time to understand what you're buying and how long it will affect you. Mortgage Insurance Protects the Lender Most types of insurance will pay you if you make a claim. Mortgage insurance, though, is solely for the lender. If you were to stop … [Read more...]
3 Reasons Why Buying an Investment Property Is the Best Way to Build Your Net Worth
Whether you have recently graduated from college or are getting close to retirement, it's likely that you have given some thought as to how you can grow your net worth. You might have invested in stocks, picked up a few bonds or have a 401(k) plan set up to help fund your retirement. But have you considered buying real estate as part of your portfolio? In today's blog post we'll have a look at three reasons why real estate investing is one of the most effective ways to grow your overall net … [Read more...]
The 4-Step Financial Checkup to Get Ready for a Mortgage in 2018
Are you ready to join the ranks of homeowners in our local community? Congratulations – homeownership is a big step towards building your net worth and financial freedom. However, it is also a significant transaction that will affect your finances for the foreseeable future. Let's take a look at a quick four-step checklist that will help you to get ready to buy a home with a mortgage in 2018. Step 1: Set Up A Monthly Budget It might sound a little basic, but the best first step is to … [Read more...]
What Is Mortgage Insurance and How Does It Benefit Me? Let’s Take a Look
Are you in the market for a new home? If you are considering a mortgage, you may be curious about mortgage insurance, commonly referred to as PMI or MI. Let's explore the topic of mortgage insurance, including how it works to reduce risk and how it benefits you as the mortgage borrower. Mortgage Insurance = Risk Reduction You might not know this, but the toughest part of the home buying process for many individuals and families is coming up with the required down payment. For example, if you … [Read more...]
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