Not parting with a chunk of change in the form of a down payment to buy a house — sounds like a dream, right? If you get the chance to put no money down for a home, you might feel as if you have the best of both worlds: a dream home without your wallet taking a pounding. But is it as good as it sounds or is it too good to be true? In this guide we’ll break … [Read more...] about How to Buy a House With No Money Down in 2022
Does shopping for a mortgage get your nerves in a tangle or give you little fizzes of excitement? The reality of shopping for a mortgage is that it will feel different than poking through online listings, driving around suitable neighborhoods or talking through real estate "how-tos" with a real estate agent. Shopping for a mortgage is a more number-crunching process … [Read more...] about How Do You Shop Around for a Mortgage?
When you are thinking about buying a house, you're probably envisioning the memories you'll make in your new home, the great family dinners and nights hanging out with friends. Your thoughts may not initially stray into terms like "debt-to-income (DTI) ratio" or "credit score." You will be more familiar with terms like these as you undergo the mortgage process. In this … [Read more...] about Debt-to-Income Ratio: What is it and How is it Used by Lenders?
What would you do with some extra cash in your pocket? Wipe out your credit card debt once and for all? Update your kitchen? Finally finish your basement? Pay off high-interest student loans or personal loans? Refinancing your mortgage with a cash-out refinance means you might get to check off all the boxes on your to-do list or give yourself an infusion of cash for upcoming … [Read more...] about What is Cash-Out Refinancing and When is it a Good Option?
When you plan to sell your home, you will most likely want to get as much money out of the sale as possible. But how do you do that? Your buyer’s mortgage lender orders a home appraisal, which is the part of the process that determines the fair market value of your home. You can prepare for a real estate appraisal by making sure everything in your home is in … [Read more...] about Home Appraisal Checklist for Success