If you’re eager to buy a home but can’t quite afford that 20% down payment, it might be tempting to purchase private mortgage insurance (PMI). PMI is the only option for some homebuyers, but for others, it is a choice. Today we’re going to look at why and how you should avoid paying PMI. What …
Should I Lock or Float My Interest Rate?
To lock or to float? It depends what we’re talking about, right? If we were discussing your house’s front door, you’d want to lock it rather than let it float, beckoning in strangers. But if we were talking about the ability to fly, you’d have to be crazy not to choose float. Who wants to …
Do I Have to Put 20 Percent Down When Buying a House?
Oh, the dreaded down payment. When looking into buying a house, many people are comfortable with the idea of mortgage payments—sometimes they’re even lower than what the homebuyer was paying in rent! Down payments, on the other hand, are sometimes feared. Saving money takes time and discipline and depending on the price of your prospective …
First Time Home Buyer Mistakes to Avoid
Buying a home for the first time is an exciting, stressful process. While it’s fun to dream about your first home (and you should), it’s also important to keep a level head. Unless you have some previous experience with real estate, mortgages, and property ownership, you should be very careful. Just as there are a …
Understanding Renovation Loans
Unfortunately, it’s not always realistic to move into your dream home right away. If you can’t afford it, find a fixer-upper in your dream neighborhood with lots of potential. Then, instead of stumbling upon a perfect house, you can make a perfect house with the help of renovation loans. The government has created programs to help people …
