Tips for Navigating Your First Home Mortgage

Owning your first home is a major milestone that you should be proud of. However, there are plenty of things you need to do to prepare for it. This includes signing a mortgage, which is a loan you’ll pay back on a monthly basis to the bank you borrowed money from to pay for the house. In order to be a responsible homeowner, you need to have a solid understanding of your mortgage.

How Does Your Debt Compare?

Household debt continues to accumulate but not for the reason you may think. While spending is at an all-time high, so is the true debt builder: Interest. Interest rates vary across different types of loans, but the sheer amount of the loans makes the interest accumulate to staggering amounts.

Poor Credit Got You Down? Try This…

A bad credit score hurts you in many ways, it not only prevents you from buying stuff, it also raises the interest rate you have to pay on stuff you do buy. People with Good Credit Pay Lower Interest Rates. So how do you improve your credit score?

How Much Mortgage Can You Really Afford

If you’re looking to buy a house in the near future, it’s important to know how much you can afford to spend. Setting a realistic budget will help you determine where you should buy, how much home to buy and how you will account for closing costs (including your down payment). How do you go about determining how much you can afford to spend on your next home?

More Than a Price Tag: How to Calculate the Overall Cost of Buying a Home

If only buying a home was as simple as buying a loaf of bread at the grocery store. Life sure would be easier. Imagine the price that you see on a home actually being the price you end up paying. As you likely know by now, that simply is not the case. Depending on where […]

What to Know About Getting a Loan for the First Time

There comes a time in most people’s lives when you find it necessary to go through the process of applying for a loan. It may be for a car, a home, or to help pay for school tuition, but the underlying process of getting a loan is what fuels the consumer economy of the United States. You might not know how to think about this new financial aspect of your budget though, so here are a few things everyone should understand about the American credit and debt industry.

5 Mortgage Management Strategies for 2017

The year 2016 was the best of the current decade for the American housing and mortgage markets, but economists are not expecting 2017 to be an encore year in this regard. The strong demand seen in the last few years for mortgage loans will taper off in 2017, and the cost of borrowing money will become greater due to interest rate increases planned by the Federal Reserve. Based on the above, it will be in your best interest to get your mortgage under control in 2017. Here are five strategies you can implement to make this happen.

Big Costly Decisions: Are You Ready to Take on a Mortgage?

Buying a home is the biggest single purchase most people will make in their entire lives and so it is also an opportunity to make one of the biggest mistakes as people learned beginning in 2008. Up until then the new millenium only included rising home prices and so even a bad deal would come out good if you waited long enough. But then according to RealtyTrac, in 2007 the tide began to turn and over a million foreclosure filings were recorded.