Term: homeownership
8 found

Are the Biggest Counties in America Affordable for Homeowners?

By Steven Shaw on 10/9/2014

Are the Biggest Counties in America Affordable for Homeowners?

You don’t need a chart to tell you it’s expensive to buy a home in most large U.S. cities. You’ll probably be surprised to learn that average salaries don’t come close to paying for average homes in most places, however. You might be really surprised at how affordable some places are. But above all, you’ll almost certainly be shocked at just how much difference geography makes in the price of a home. 

homeowner
homeownership
mortgages

Americans With Lower Credit Scores Are Getting Mortgages

By Steven Shaw on 1/24/2014

qualify for a mortgage 

Credit scores are among the many things lenders review when you apply for a mortgage, because scores are designed to predict how likely you are to meet your debt obligations. After the mortgage crisis, lenders were hesitant to take on risky borrowers, and at the end of 2012, the average FICO credit score for a closed mortgage was 748, according to mortgage software company Ellie Mae.

FICO credit score
Home Loan
homebuying process
homeowner
homeownership
Mortgage

5 Signs You’re Ready to Be a Homeowner

By Steven Shaw on 11/26/2013

5 Signs You’re Ready to Be a Homeowner

No one can tell you when you’re ready to become a homeowner. But it’s probably fair to say a lot of first-time buyers wish otherwise.

Buying a home is often one of the biggest purchases you’ll ever make. It’s also among the most infrequent. Knowing you’re prepared to buy a couch or a car is one thing. The last lot in a cul-de-sac is something else entirely.

The right time to pull the trigger is when you’re financially and emotionally prepared for the responsibility. But it’s not like the heavens part and a choir of closing agents signal the time has come.

It’s ultimately up to you to determine you’re ready. But here are a few signs and stages that might signal you’ve got a handle on homebuying.

baseball
buying a home
Home Loan
Home Owners
homeowner
homeownership

How Much Money Do You Need to Buy a House?

By Steven Shaw on 11/12/2013

How Much Money Do You Need to Buy a House?

Buying a home is still considered to be a lifetime accomplishment. How much cash you’re going to need upfront to do so is another story entirely. The funds needed to close the sale play an enormous role in your ability to get a home loan. If you’re serious about buying a home or will be in the future, how much of your income you should be saving to realistically seal the deal?

Home Loan
homeownership
Mortgage
Mortgage Rate

The New American Dream: It’s Not What You Think

By Steven Shaw on 9/6/2013

The New American Dream: It's Not What You Think

A great number of Americans are redefining the American Dream. That was the takeaway from a recent Credit.com poll, which showed that nearly one in four people between the ages of 18 and 24 defined the American Dream as being debt-free. Shockingly, that’s more than those who dream of owning a home.

American Dream
Debt
Debt-Free
homeownership
personal finance

Think You Can’t Buy a House? Try the One You Rent

By Steven Shaw on 7/11/2013

Think You Can't Buy a House? Try the One You Rent

If you have never owned a home before, or owned a home in the past, or previous circumstances require you to rent a home now, and you’re hoping to buy a house again, there’s one possibility you might not have considered: purchasing the home you’re currently renting. That’s right — make a purchase offer to your landlord to buy the home you presently live in. The blanket belief your landlord doesn’t want to sell simply may not be true. By communicating your intention to purchase the house directly from your landlord, the transaction becomes easier for both parties.

Home Loan
homeownership
Mortgage
Rent
Renting

How to Get a Mortgage If You’re Not a U.S. Citizen

By Steven Shaw on 5/1/2013

How to Get a Mortgage If You're Not a U.S. Citizen

If you are not a U.S. citizen, trying to get home loan financing can be a long and difficult road — though it’s not necessarily impossible. If you have a Social Security number or permanent work stability, here are some basics to help get you on the road to a mortgage.

Some important terms to know

For the purposes of getting a mortgage, U.S. citizens and permanent resident aliens are practically the same, with one subtle difference: The permanent resident alien needs a green card validating their citizenship authenticity in the U.S. It’s important to note that many lenders won’t make loans to borrowers who don’t have Social Security numbers or permanent work stability — as shown by a three-year continuance. Here’s a breakdown of the main citizenship categories:

Home Loan
homeownership
Mortgage

Renting or Owning a Home: What’s Right for You?

By Steven Shaw on 4/24/2013

Renting or Owning a Home: What's Right for You?

At this time, when housing prices are starting to rebound and interest rates are still very low, a lot of people are saying that you should buy a house in 2013. But is homeownership the right choice for your finances? The answer of course, is “it depends.” However, for many of us there is a clear answer based on where we live, how much money we have saved up, and what our future plans are.

The “Rent vs. Own” debate has been raging for decades, and will no doubt continue for many decades to come. Here are some important factors you should consider to help determine whether renting or owning a home is the right decision for you.

homeownership
mortgages
mortgages