finance: Demystifying Closing Costs
- 08/07/14 01:47 AM
Qualifying and being approved for a mortgage are only part of the financial responsibility of buying a home in Las Cruces. There are a host of closing costs that, as a buyer, you should expect. Affordability is a topic on the minds of today's buyers, so researching each of the following costs, large and small, is important. Down Payment: This amount ranges depending on the cost of your home, but many financial experts recommend a down payment be at least 20 percent of the total cost of the house. The reason is that it often helps eliminate "PMI - Private Mortgage Insurance". … (2 comments)
finance: Just the Facts - The Hard Numbers of Home Refinancing
- 07/31/14 02:16 AM
In part 1 of this blog, “Refinancing Your Home Mortgage and Why You Should Do It Now!”, we mentioned that with today’s very low interest rates, around 4%, almost everyone with a higher rate mortgage will save money by refinancing. We also noted that not only would you save money but you will build equity in their home faster and pay less interest to the bank! Depending on your situation, you will be able to increase or decrease the term of you mortgage, consolidate higher interest debts, and it could give you the opportunity to get out of or into … (0 comments)
finance: To Rent or to Buy? That is the Question!
- 06/05/14 01:47 AM
It is a topic on many renters’ minds and it is a real concern for all of those that would like to buy a home, but are just not sure. If you are looking to gain wealth, boost your credit, and provide an improved living environment for you and your family, but think you can't afford it then this information may surprise you.
It’s better to buy a home than to rent one in most cases but not always. Comparing buying to renting is actually a pretty complicated endeavor. However, there are a few easy guidelines you can use … (2 comments)
finance: Why Getting Mortgage Pre-approval is a Must!
- 03/06/14 04:52 AM
I get calls from buyers every day. Some of them have been pre-approved through a lender while others have not. Those that haven’t often want to start seeing houses right away, before they have started the loan process. These potential buyers get to start seeing houses right away, so why are they at a disadvantage? What better way to explain than with a realistic scenario. Let’s say that you’ve decided to start seeing houses without preapproval. You end up finding one you like in a great location that fits all of your needs and more. Fantastic, right? Not exactly. It is … (0 comments)
finance: 5 Financial Figures Numbers You Need To Know
- 02/19/14 01:05 AM
No matter your where you are in your life cycle, staying in sound financial shape for yourself, your family, or your golden years requires monitoring your personal finances. This information is designed to reduce your work to 5 benchmarks that will give you a picture of your financial wellbeing. No. 1: Your credit Score and Credit Report Your Credit Score may be the most important number attached to your name. Your credit score decides your approval for a mortgage, auto loan, and what credit card offers and interest rates you qualify for. Moreover, many employers evaluate an applicant's score during the … (1 comments)
finance: Highlighting the HERO Program
- 12/18/13 05:00 AM
So what is the HERO program? The HERO program is an incredible MFA first mortgage loan designed for households in which at least one member is a member of the armed forces, a healthcare worker, teacher, or safety worker. This loan includes a 3.0 percent down payment grant for low to moderate incoming homebuyers employed in the occupations mentioned above. Even better is that you do not have to be a first-time home-buyer to qualify! Now, some of the occupations listed above are pretty broad terms and we are going to define them a bit to avoid any confusion. Remember … (0 comments)
finance: 10 Alternatives to Foreclosure
- 02/21/13 02:22 AM
Today we want to pick up the conversation with some alternatives to foreclosure. This list is just part of our overall Foreclosure Resources that are available for free on our website. Other Alternatives to Foreclosure Short Sale If you owe more on your property than it is currently worth, by negotiation with your lender you can sell the property for a price less than you owe and consider this as satisfying your debt. This a common solution.The Short Sale Process Government Home Owner Assistance Programs The rising number of foreclosures in this country is simply too big to ignore. That is … (57 comments)
finance: Buyers Market: Equity and Forced Savings
- 06/28/12 03:34 AM
Before we get into the meat of this weeks Buyer's Market topic, let's backtrack a bit and add one more bit of food-for-thought to last weeks topic. Earlier this year, Warren Buffett appeared live on CNBC's Squawk Box with Beck Quick. He started off my saying that along with equities, single-family homes are a very attractive investment right now. In fact he said he would buy "a couple hundred thousand" single family homes if it were practical to do so. Why would he? He went on to explain that if held on for a long period of time and purchased at … (0 comments)
I will provide information about the Las Cruces area Real Estate Market, and in addition, general information on Real Estate related topics. This blog should be a resource for both those already living here, as well as anyone considering relocating or retiring in Las Cruces so I will also add any new and current community Information that I know. This blog's ability to provide day to day information is intended to supplement all of the many Real Estate resources that are to be found on my WEBSTITE: www.HomesForSaleInLasCruces.com I am proud of this Website and I encourage you to visit.
Qualifying and being approved for a mortgage are only part of the financial responsibility of buying a home in Las Cruces. There are a host of closing costs that, as a buyer, you should expect. Affordability is a topic on the minds of today's buyers, so researching each of the following costs, large and small, is important.
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