Finance
You just got a mortgage preapproval. Now what?

You just got a mortgage preapproval. Now what?

If you are in the market for a new home, getting pre-approved for your mortgage is one of the first steps you must take. In fact, a mortgage pre-approval should be obtained even before you start your home search. What Pre-Approval Means A pre-approval is not the same as getting

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Your house is underwater. Now what?

Your house is underwater. Now what?

What do you do if you need to sell a house that is underwater? The term underwater refers to a situation where the market value of a home drops below the amount you owe on the mortgage.   This can have detrimental effects on the financial standing of the home if

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Financing a Home Purchase with Bad Credit

Financing a Home Purchase with Bad Credit

Financing a home purchase under favorable conditions may not be a problem; however, for millions of potential homebuyers who have been negatively affected by the recent financial crisis, securing home financing for your dream home may be challenging. “Challenging” however, does not mean “impossible.” Just because your credit score and/or

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What Are Mortgage Points?

What Are Mortgage Points?

If you are in the market to purchase your first home, you have likely been bombarded with a tremendous amount of information that you need to learn and understand about the home buying process. For most buyers, a mortgage loan must be secured to cover the cost of purchasing the

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Getting a Loan to Flip a House

Getting a Loan to Flip a House

There is an unwritten rule in real estate that stipulates you must not run out of money. For this not to occur, one must do everything in one’s power to secure other people’s money. There are a few ways to hustle for money, but the ideal way is through a

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Do I Need to Put 20% Down?

Do I Need to Put 20% Down?

Home buyers across the country ask if it is required to put 20% down on a house to qualify for a new home. It is not difficult to grasp why that “20%” figure strikes such fear into the hearts of potential homeowners, especially the young and not-so-wealthy. The average for

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Determining How Much House You Can Afford

Determining How Much House You Can Afford

Affordability of a new home depends on funds available for a down payment and your current debt ratios. Start the process by evaluating your total income, debts and other expenses before developing a budget plan. Try using a mortgage calculator to determine your monthly payments, based on interest rates and

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Investing in Rental Properties

Investing in Rental Properties

Real estate has always been considered a profitable long-term investment. Although the market will fluctuate wildly at times, compared to many other types of investments, real estate is more likely to eventually appreciate in value, making it a sound long-term investment. If you are considering the purchase of an investment

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When to Refinance Your Home

When to Refinance Your Home

Refinancing a home loan can be a creative way to access additional money easily. Refinancing allows you to convert an existing mortgage into a fully paid off one, and thus obtain a new loan. In many cases it is considered a favorable option for consumers, especially if they have good

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Checking Your Credit Before Buying a Home

Checking Your Credit Before Buying a Home

The American dream has always been to own your own home and your Better Homes and Gardens® Real Estate agent is there to help you achieve that goal. A key component is to understand what finance companies look for when considering an application. This knowledge can go a long way

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