It's wise to build passive income streams in the young adult years and allow them to grow. Before long, you'll be earning significant money from your previous work. Two Easy Ways to Build Significant Passive Income Passive income is great because it's a way to earn income without putting in a lot of work on [...]
The home buying process is a fulfilling and gratifying one that requires financial acumen and discipline. Preparing for Financial Planning and Home Ownership Purchasing a home is a big deal. Whether you are looking to buy a high rise, condo, or house in Las Vegas, it takes a lot of dedication and patience to turn a [...]
If you’re thinking about purchasing a new home or refinancing your existing mortgage, you should know that your credit score is hugely important. Banks and mortgage lenders use your credit score(s) to evaluate your creditworthiness, which translates to a higher or lower mortgage interest rate, and even determines eligibility. Which Credit Score Do Mortgage Lenders Use? [...]
Traditionally, your mortgage payment is a monthly cost. You submit your payment once a month to the mortgage company, and your money is applied to principal, interest, and escrow. But many mortgage lenders also offer biweekly mortgage payment plans that allow you to pay in installments every two weeks instead of every month. Biweekly payment [...]
Mortgage rates are still at historic lows, and there's no denying that now is a great time to purchase a home. Here are four reasons why it makes a lot of financial sense. 1) Homeownership Builds Wealth Over Time Most of us were taught growing up that owning a home is financially savvy. Although that confidence [...]
Choosing the right real estate agent to help you buy or sell a home is no easy task! In fact, it can make all the difference in the world. The wrong agent can cost you time and money, and possibly even your potential dream home! When you're interviewing potential agents, make sure they have these [...]
Your offer has been accepted on your dream home and you have a down payment, good credit, and little debt. So the escrow process should be a breeze, right? WRONG! There are some surprising deal breakers that can quickly cause the transaction to go south. Here are a few of the most common ones. Closing [...]
Buying a home is a huge financial decision, and choosing the right mortgage can be difficult. If you're wondering whether to choose a 15-year mortgage or 30-year mortgage, here are 4 things to consider. 1) Can You Afford to Get a 15-Year Mortgage? Although a 15-year mortgage offers a lower interest rate relative to a [...]
FHA loans are popular with mortgage borrowers because of lower down payment requirements and less stringent lending standards. Simply stated, an FHA loan is a mortgage insured by the Federal Housing Administration, a government agency within the U.S. Department of Housing and Urban Development. Borrowers with FHA loans pay for mortgage insurance, which protects the [...]
If you or someone you know has plans to use a cash gift as their down payment for an FHA loan, pay close attention. While the cash gift is not only allowed but encouraged by the Federal Housing Administration, there are rules to how the money can change hands and how it is all documented. [...]
