investment: 3 Common Mortgage Myths
- 07/06/15 12:34 AM
Whether we are unsure about buying another house or we think it will be a breeze, there are probably some misconceptions that lead us in that direction. U.S. News & World Report cited a recent mortgage lender survey found that many Americans go into the mortgage-buying process ill-informed, and in many cases, misinformation actually prevents people from applying for a mortgage at all. Here are three myths the survey uncovered. 1. Your credit has to be near-perfect. Two-thirds of survey respondents believed they needed a very good credit score to qualify for a mortgage. But experts say that in most cases, if you pay your bills … (1 comments)
investment: SNOOZE AND LOSE?
- 06/27/15 10:45 PM
The longer you wait to buy a home, the more it can cost you. Here’s what potential buyers should know about acting now to get in the market
Many a fisherman has a story about the big one that got away. But years from now many a would-be homeowner could have a tale about the dream home that got away because they didn’t reel in the big catch in time, say the experts. A recent report published by Realtor.com indicates that the financial consequences of postponing or passing on a home purchase in the current market could prove to be quite costly. The report suggests … (4 comments)
investment: Invest in Education with a 529
- 10/02/14 12:18 AM
Got kids? Wondering how you're going to put them through college? Check out a 529 college savings plan. A Sallie Mae (originally the Student Loan Marketing Association) study found that 55 percent of families were saving money for retirement, and 51 percent were saving for college. If you're saving for retirement, you're probably familiar with IRAs or 401(k)s. So consider trying a 529 plan when saving for your child's college education. A 529 plan is typically a state-sponsored plan that allows you to save money, tax-free, for a family member's education. Usually a parent or grandparent is the owner, and they … (1 comments)
investment: 5 Reasons It's Better to Own Than Rent
- 12/25/13 07:40 PM
Reason 1: Mortgages are cheap Even though rates have spiked about 1% over the past year or so, at a 4.5% interest rate, 30-year mortgages are still very cheap on a historical basis. This is significant because in many cases, it is actually cheaper on a monthly basis to own a home than rent. In the market I live in, $350,000 gets you a relatively basic three-bedroom home, and I live in a hurricane-prone area, so we have to pay flood and windstorm insurances, which brings the total mortgage payment on a $350,000 house to about $2,400. The same house would easily command $2,700 per … (1 comments)
investment: RealtyPin.com's Best Home Buying Tips of 2013
- 03/14/13 09:54 PM
We're a couple months into the New Year, which means that the real estate experts at Realtypin.com have had some time to examine the housing trends. So, if you're planning on buying a home during the traditionally-busy spring home buying season, what will make things easier for you? 1. Buy with the intention of sticking around A home is more than just a place to live; it's also an investment. Home values are slowly starting to go back up, but you're really not going to see much from your investment if you buy now and go to sell in the next … (0 comments)
investment: Why Buying at the End of 2012 May Be Your Best Investment Yet
- 12/09/12 07:53 PM
With less than a month left in 2012, the number of days to benefit from year-end home buying tax benefits is dwindling quickly. We consulted real estate experts from across the country to share what you need to know when preparing to close before December 31, 2012. 1.) End of year tax benefits: If you are considering buying a home in the near future, capitalize on the remaining weeks of 2012. Purchasing your home before year-end will make you eligible for the following 2012 tax benefits: Mortgage interest deduction: If you itemize your tax return (which you should do if your … (0 comments)
Most of us have dreamt of having a vacation home. It could be on the beach in New England, somewhere tropical, or even somewhere foreign. Many consumers don’t realize that with the proper research, their dream vacation home might actually be in reach. Instead of visualizing how relaxing vacations and weekend getaways could be, why not try to make your second home a reality?
The first step to purchasing a second home is organizing your finances to make sure you can afford it without compromising the security of your other assets.
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