For the new investor, the variety of real estate investment options can be overwhelming. Residential properties, commercial spaces, raw land, REITs — each type of investment has unique challenges and rewards. Knowing where to invest, when, and how to manage the investment can be the difference between a lucrative venue and a costly mistake. However,…

Purchasing a home is one of the most significant financial decisions most people make in their lifetimes. With the wide availability of mortgages and various options among lenders, the process can be exciting and overwhelming, even if you’ve purchased a home before. It’s crucial to know what questions to ask a mortgage lender to ensure…

One of the most popular ways to access your home equity is to use a home equity loan (HELOAN). Home equity loans are structured as second mortgages, but they can be especially beneficial for homeowners looking to finance large expenses. Since the loan is secured by the home itself, HELOANs often come with lower interest…

Many corporations and individuals strive to maximize their money by avoiding paying local and federal taxes. A tax haven is a jurisdiction known for offering minimal tax liabilities, like states without income taxes. While often associated with far-off islands, the concept of a tax haven is also relevant in the US. Some large businesses and…

The right mortgage program can help you save money while paying off your debt. While 30-year mortgages are the most common, they’re not your only option. Some borrowers may prefer a short-term mortgage that allows them to save on interest payments and pay off their home in a shorter amount of time. Unfortunately, short-term mortgages…

Your home isn’t just where you live—it’s an investment. As with any asset, the goal is to enhance its value over time. Refinancing for home improvements allows you to channel new funds into home renovations or upgrades to increase its value, allowing you to sell it for more in the future.  In the past couple…

The adjustable-rate mortgage (ARM) is characterized by its variable interest rates that shift with market conditions. Initially, ARM loans often come with lower interest rates than fixed-rate mortgages, making them an appealing choice for many homebuyers. However, as time goes on and initial rate periods expire, homeowners with ARMs might face fluctuating interest rates, resulting…

When considering homeownership, many people think beyond the immediate shelter and security of a home and lean into its potential as an investment vehicle. Over the years, real estate has proven to be a cornerstone of many wealth-building strategies and a tangible asset that carries emotional and practical value. The dynamics of the housing market,…

Understanding your mortgage can be challenging, especially if you’re a first-time home buyer. Among the many details to consider, understanding when your first mortgage payment is due is crucial to budgeting and overall financial planning. If you’re wondering, “When is my first mortgage payment due,” you’ve come to the right place. In this article, we’ll…

When buying or selling a house, you’ll often hear the term “fair market value” or FMV. This concept plays a crucial role in shaping the dynamics of real estate transactions. FMV helps sellers understand the right price point to list their property to ensure it’s neither overpriced nor undervalued. On the other hand, buyers use…

How funds are handled in real estate transactions varies based on various factors, including location. Understanding these differences, such as the concept of dry funding, can help you streamline the buying or selling experience. Different states have adopted either a wet or dry closing practice, impacting the timeline and mechanics of closing procedures. As you…

Homeownership is a significant investment. Like all major financial commitments, you’ll have several responsibilities when you own a home, primarily keeping up with mortgage payments. Due to unforeseen circumstances, such as job loss, medical emergencies, or other financial hardships, homeowners may struggle to make timely mortgage payments. In these situations, they might encounter terms like…

Buying and selling a house at the same time is a delicate balancing act that requires impeccable timing, strategic planning, and a deep understanding of the real estate market. At first glance, it might seem like juggling two massive transactions at once would be complicated. However, with the right approach, it’s possible to sell and…

Finding the right lender and loan program can be a daunting experience for home buyers. A mortgage broker who acts as an intermediary between lenders and buyers can help guide you through the mortgage process and secure the most favorable loan terms. A mortgage broker’s role goes beyond facilitating the mortgage transaction. They understand a…

Fannie Mae and Freddie Mac are government-sponsored entities (GSEs) that play pivotal roles in maintaining the mortgage market’s liquidity, stability, and affordability. By purchasing and guaranteeing mortgages from lenders, these entities ensure funds are consistently available for individuals wanting to buy homes, refinance their mortgages, or tap into their home’s equity with home equity loans.…

When you sell your property, you’ll be subject to various tax implications. A capital gain is the rise in value of an asset compared to its original purchase price. When the asset is sold, the profit earned from that sale is subject to capital gains taxes. Homes are significant investments, so understanding what happens after…

Cash offers are often seen as the gold standard in a competitive housing market, as they typically mean fewer contingencies and a faster closing process. For many homebuyers, competing with a cash offer can feel like an impossible hurdle because they eliminate the uncertainties of mortgage approvals and often expedite the entire process. While a…

Every homeowner knows the peace of mind that comes with insuring their property. However, beyond the typical homeowner’s insurance, you may want to consider another type of coverage—the home warranty. Unlike homeowner’s insurance, a home warranty is a service contract that covers repairs and replacements of major appliances and home systems that break due to…

When you apply for a home loan, lenders do a title search to uncover issues with the title, including liens and easements. If you’re a first-time buyer, knowing what an easement is can help you determine whether you want to move forward with the sale. An easement on a property refers to the legal right…

A home is the largest investment many people make in their lifetimes. Unfortunately, the mortgage process can be complicated for first-time homebuyers who don’t know its intricacies and the different steps. One such intricacy is the mortgage rate lock extension and its associated fees. When you’re in the process of getting a mortgage, the interest…

For borrowers, understanding the distinctions between APR vs. interest rate can mean the difference between securing an affordable loan or spending too much in the long run. Both APR and interest rates determine how much a loan will cost. However, they encompass diverse aspects of that total cost. When comparing APR and interest rate, it’s…

Being a property owner comes with many responsibilities and documents. One concept people misunderstand is the house title. A house title is the legal notion of property ownership and signifies the bundle of rights associated with a piece of property. Unlike the deed, the house title isn’t a document. Instead, it’s a concept that encapsulates…

When someone passes away, their family is typically responsible for tying up their loose ends, which may mean contacting the mortgage company. If a deceased individual had an outstanding mortgage balance, notifying the mortgage company as soon as possible can clarify the next steps concerning the property and repayment of debts. Failure to communicate this…

Finding a new home to purchase is a monumental step in anyone’s life. Anticipation, excitement, and a little bit of stress come together to help you find your perfect home. Each home has its own story, charm, and potential pitfalls. House hunting is more than just finding a place to rest after a long day…

Understanding various terminologies and processes that can affect your mortgage loan can significantly influence your experience when buying and owning a home. An appraisal is an integral part of the mortgage process because it establishes the market value of a property, which lenders use to determine the loan amount. The appraisal also protects buyers, ensuring…

While homeownership has many benefits, homeowners must realize that investing in property always carries risks, especially if they fail to fulfill their financial obligations. Foreclosure is something no homeowner wants to go through. However, understanding how foreclosure works can help safeguard one of the most important assets you’ll ever own — your home. Foreclosure is…

Understanding the housing market can be challenging for anyone, including homeowners. An underwater mortgage is a term homeowners should know to help them avoid some of the negative consequences that can come with owning a home. While there are plenty of benefits to homeownership, there are also some risks involved. Although no one wants to…

Our blended interest rate calculator is designed to take the guesswork out of the equation. With this calculator, you can effortlessly input multiple interest rates, and it will instantly provide you with a unified, single rate. The blended rate calculator makes understanding interest rates easier, ensuring accuracy. Keep reading to learn how to calculate a…

Saving for a down payment and being able to prove your ability to repay a home loan can be challenging, especially if you don’t have a traditional job. However, alternative options exist, depending on your unique financial situation. If you have a 401(k) retirement account, you may be able to tap into it as income…

Are you wondering how to buy a house with low income? Buying a house with a low income can be a significant challenge, particularly with existing mortgage requirements and the competitive nature of the housing market. On the other hand, low income houses are available, and income-based loans can make it easier for people with…

Getting pre-approved is the first step to homeownership. A pre-approval letter demonstrates that you qualify for a home loan and the total loan amount a lender might be willing to offer. A mortgage pre-approval doesn’t guarantee you’ll receive the same amount during final approval. However, it can help your offer look more appealing to sellers,…

Investing in rental property is all about making money. Unfortunately, earning on a rental property means paying taxes on your income. Knowing key financial metrics about your rental property can help you estimate how much you’ll owe during tax season. The adjusted basis is one of the most important metrics for calculating your tax burden.…

Conventional loans are the most common type of mortgage product. Unfortunately, they can be more difficult to qualify for due to stringent requirements that can prevent some types of borrowers from achieving their dreams of homeownership. Conventional loans are provided by private lenders, they’re not backed by government agencies. Instead, the requirements for these loans…

If you are looking to forgo a traditional mortgage, it is possible to become a cash home buyer if you have the finances or credit score to do so. Whether you have proof of the funds in your bank account or you want to work with a financing company to make a cash offer on…

A mortgage pre-approval is one of the first steps you should take after making the decision to buy a home. Obtaining a mortgage pre-approval letter gives you negotiating power when shopping for homes and shows sellers you’re a serious buyer. Unfortunately, your mortgage pre-approval letter won’t last forever. So how long is a pre-approval good…

For many, a home is the most significant investment they’ll make. But what’s the point of investing in a home if you don’t use that investment to better your life? According to Black Knight, total mortgage holder equity topped $16 trillion again in June of 2023, with tappable equity – the amount that can be…

With a reverse mortgage, you can grow your income with a loan you don’t have to repay until you sell the property or pass away. These types of loans are great options for retirees who meet the eligibility requirements. Learning about the different types of reverse mortgages that are available can help you find the…

A merchant cash advance (MCA) loan is a type of lending that is based on the average value of credit and debit card receipts taken in by a business. Merchant cash advances typically have a short application process, no credit check requirements, and are typically approved in 1-3 days. While there may be times where…

If you already have equity in your home but you need to relocate or are interested in purchasing a new home, you may want to sell a house with a mortgage that hasn’t yet been paid off. Fortunately, this is entirely possible and many people go through the process of selling a house with an…

Buying a home is still a huge part of the American dream. Nevertheless, to achieve this goal, your actions must be anchored in reality. Closing costs are one of the most commonly overlooked parts of purchasing a home. Unfortunately, many prospective homeowners fail to fully calculate closing costs and incorporate them into their home buying…

You can refinance your mortgage to fund home improvements, pay college tuition, or accomplish other financial goals. However, if you’re on a timeline you might be asking yourself, “How long does it take to refinance a house?” It can take up to 45 days or longer depending on the type of loan you opt for…

Are you thinking about purchasing a house in the near future? If so, you have probably heard that there are a lot of factors that will influence your potential mortgage interest rate, and one of them is your credit score. If your credit score is too low, you may not even qualify for a mortgage.…

When shopping for a house, it helps to know how much you can afford to spend. A mortgage pre-approval helps you understand how much of a home loan you may qualify for and gives you more power when making an offer on your dream home. The mortgage pre-approval process works similarly to getting a mortgage,…

When you purchase a home, you’ll be required to pay various fees, such as homeowner’s insurance and property taxes. Property taxes are paid to local governments to fund essential services like schools, police, and fire departments. Unfortunately, depending on where you live and the value of your home, property taxes can be costly. Paying property…

If you’re looking for ways to get out of debt, you’re not alone. Many people struggle with paying off debt and keeping their finances in good shape. Debt can even have a negative impact during the mortgage underwriting process and make it harder to purchase a home. However, it can be difficult to manage multiple…

A home is often one of the most significant purchases you’ll ever make. Unfortunately, not everyone realizes the various costs of taking out a mortgage. Apart from your monthly mortgage premium, you’ll be responsible for everything from closing costs and administrative fees to mortgage insurance. The type of mortgage insurance you may be responsible for…

Investing in real estate can help you build wealth over time while expanding your portfolio with new opportunities. In addition, the tax benefits of real estate investing make it even more appealing for new and veteran investors alike. Tax deductions for rental properties are one of the most significant benefits of investing in real estate,…

Homeownership can be expensive, but with the right mortgage, you can save thousands of dollars over the life of your loan. With so many options available for borrowers, home buyers may forget about government-backed programs like the USDA loan. USDA loans are guaranteed by the Rural Development Guaranteed Housing Loan program from the US Department…

Taking out a loan costs money. When you take out a loan, you’ll see various terms on your paperwork that can help you estimate your total costs, such as interest, APY, and APR. Knowing what these terms mean can help you determine if a loan or credit card is right for you based on your…

If you struggle to make on-time mortgage payments, you may qualify for forbearance. While you’re in forbearance, you won’t be expected to pay your mortgage, but it may impact your financial health in the future. Many people entered a forbearance program during COVID-19 that allowed them to remain in their homes without worrying about mortgage…

Leveraging the equity you’ve built up in your home can help you pay for large expenses at a lower interest rate than other types of debt like personal loans or credit cards. A home equity line of credit (HELOC) is a second mortgage that allows you to start using your home’s equity to increase cash…

Investing in rental property can help you grow your wealth, but it also comes with a different set of responsibilities than any other type of real estate investment. When you invest in rental properties, you’re responsible for everything from handling tenant issues and maintenance requests to calculating your return on investment (ROI) to ensure you…

You can buy a house with no money down when you use certain types of government-backed mortgages. The federal government offers no-money down loans through different agencies in order to encourage homeownership among certain populations and areas of the country. You may be eligible to take advantage of these government-backed loans, provided you can qualify…

Investing in real estate has major benefits, like growing your wealth and passively generating income without getting a second job. There are many ways to invest in real estate, including house flipping, rental properties, REITs, syndication, and online investment platforms. Real estate investing for beginners can initially seem daunting, but once you get the hang…

Most home buyers need a mortgage to afford their dream homes. Unfortunately, getting a mortgage for the first time can be intimidating. However, once you’ve gone through the process once, you’ll feel more confident in your ability to get a mortgage in the future. Knowing how to get a mortgage will ensure you have all…

With a second mortgage or refinance, you can tap into your home’s equity to increase your cash flow, pay off debt, or afford large purchases. But which option is right for you? When comparing a second mortgage vs. refinance, you should consider your goals. With both options, you can leverage your home’s equity. However, with…

If you’re self-employed, such as a real estate investor, you need to make sure that you’re generating a solid return on your investment. There are several important metrics you need to follow, such as your occupancy rate and your total monthly revenue, but you might also be wondering, “What is the cap rate on rental…

Having a stress-free home selling process is crucial for anyone wondering how to sell their home. Most people don’t want to invest too much time or money into the process and often choose to work with professionals to help them sell their homes. Unfortunately, selling a home is complicated, and there’s a lot the homeowner…

Inflation is one of the many concerns on borrowers’ minds today. Unfortunately, when inflation rises, home prices tend to rise with it. However, purchasing a house now may be more affordable than purchasing one in the future as long as inflation is expected to continue increasing. Rising inflation means higher home prices, but it also…

A 2/1 buydown mortgage is a type of mortgage that allows the borrower to reduce the amount of interest paid during the first two years of the mortgage. It’s similar to buying points that reduce the interest rates but typically lasts for a period of two years. You could potentially save a lot on interest…

Getting pre-approved for a mortgage makes it easier for you to buy a home because the seller knows that they can close more quickly. In order to get pre-approved, you need a set of documents to show a lender that you’re capable of fulfilling the terms of a mortgage. This gives you an advantage against…

If you have ever applied for a mortgage, you probably know that there is a tremendous amount of documentation that goes into the process. One of the most common questions people ask is whether they need to provide tax returns as part of their mortgage application. While this isn’t always the case, there is a…

Being unemployed and not having a full-time job can hurt your chances of getting approved for a mortgage. That’s because two major deciding factors for lenders when reviewing a mortgage application are your income and job history. Unfortunately, not everyone has those. Some individuals don’t have full-time jobs because they work for themselves as freelancers…

Applying for a mortgage can be confusing for first-time home buyers, but once you’ve gone through it once, you’ll be an expert. There are several steps to getting financing for your dream home, but one of the most important is the mortgage underwriting process. The mortgage underwriting process determines your eligibility and dictates whether you’ll…

When you’re ready to buy a house and learn about the mortgage process, you’ll come across various terms that seem intimidating and confusing. Terms like “conforming” and “non-conforming loans” can make applying for a home loan even more confusing and daunting. However, knowing the difference between these types of loans can ensure you make the…

Investing in homeownership has many advantages. Over time, home values increase, allowing you to sell your home for more than you paid and passively earn money. However, that’s not the only way being a homeowner can help you earn. The longer you live in a home and pay your mortgage, the more equity you build…

Being unemployed can be stressful for the average person. Not having a job often means having little to no income, and you may require a loan to help you get through a difficult time and pay your bills. But can you get a loan without a job? There are several loans with no job requirements.…

When you apply for a mortgage loan, you must meet the lender’s criteria for approval. Your income, job history, debt, and other financial factors will play a role in eligibility, loan approval, and loan amount. You’re not disqualified from securing a home loan if you have debt. Instead, lenders compare your debt to your income…