time: First Time Buyers - Should You Buy a Home in 2012?
- 11/09/11 06:32 AM
Low interest rates and still falling home prices make it tempting to buy a house now, but before purchasing, wise buyers are looking at their big picture.Most of those who will buy homes in 2012 will buy because it makes sense for them to do so. Security (at their current employer and in their current field) has a strong impact on the decision to purchase or not, even more than low interest rates.Interest Rates and Mortgage Insurance Low interest rates sound good, and are good, but what isn't talked about much is that the cost of mortgage insurance has almost doubled (0 comments)
time: How to Calculate the Cost vs. Benefit of Refinancing
- 10/12/11 10:27 AM
How to calculate the cost vs. benefit of refinancing Whether or not you should refinance will depend at least 3 things: The costs associated with refinancing The total monthly savings the refinance equates to. How long you plan to stay in the home or hold the loan Once you calculate how many months of savings it will take to cover all the costs of refinancing (including any costs added to the principle balance of your loan) you can more easily assess whether or not it makes sense for YOU to refinance. Here is an example. The numbers I'm using make for (0 comments)
time: The Housing and Economic Recovery Act of 2008 - How First Time Home Buyers can get a $7,500 Refundable Tax Credit
- 07/30/08 11:44 AM
The Housing and Economic Recovery Act of 2008 was signed today and that could mean you or someone you know may qualify for up to a $7,500 Refundable Tax Credit. A simple overview of how it works You are eligible if: You are a first time home buyer (meaning neither you nor your spouse has owned a principal residence (home, townhouse, condo, etc.) in the last 3 years. You purchase(d) a home "on or after April 9, 2008, and before July 1, 2009". Your Modified Adjusted Gross Income is less than $150,000 (for married taxpayers) or less than $75,000 (for single (0 comments)