Term: mortgages
6 found

What Makes a Home Affordable?

By Steven Shaw on 3/16/2015

home affordability

Deciding where to live can be hard. You are probably thinking about proximity to work, to family, friends or significant others, as well as food options, climate, travel accessibility, crime rate, education, culture and of course — affordability. We all know that living within our means is important to maintaining good financial health, but figuring how to do that is not easy.

Closing Costs
Cost of Living
Home Loan
Homeowner’s Insurance
Mortgage Payment
Property Tax

How to Buy a House at the Right Price

By Steven Shaw on 2/17/2015

How to Buy a House at the Right Price

The housing market is making a comeback in many parts of the country.

According to the U.S. Department of Commerce, sales of new houses increased by nearly 12% overall during 2014—the most since 2008—as interest rates remain at historic lows. RealtyTrac, a company that analyzes national housing data, also notes that 2015 marks the first wave of boomerang buyers—those who served their time in the damaged-credit diaspora after losing homes to foreclosure seven years before.

Home Loan
Mortgage Rates

Most Americans Have Bad Credit, Study Finds

By Steven Shaw on 2/2/2015

Most Consumers Have Subprime Credit, Report Says

For all the headlines about the improving economy and record-low mortgage rates, most consumers aren’t in a position to benefit from them, according to a report from the Corporation for Enterprise Development (CFED). 

The study found that 56% of consumers have subprime credit scores. That means they are unable to take advantage of the best — or even average — interest rates if they need or want to borrow money. The very best rates and terms go only to people who have excellent credit.

bad credit
Home Loan
subprime credit scores

5 Kinds of Mortgages: What’s Right for You?

By Steven Shaw on 7/21/2014

5 Kinds of Mortgages: What's Right for You? 

Home buying can be a whirlwind and, unless you are a lottery winner or heir to a fortune, likely includes taking out a mortgage. Choosing the right mortgage loan for your budget includes assessing your income, lifestyle, credit history and qualifications. But it’s not just a matter of finding an affordable option – it’s also finding the best fit. Here is a list of common borrowing options so you can be an educated homebuyer.

Adjustable-Rate Mortgage
FHA Loan
Fixed-Rate Mortgage
Interest-Only Mortgage
VA Loan

850,000 Homeowners Climb out of Underwater Mortgages

By Steve Ely on 6/17/2013
During the recent housing downturn, borrowers nationwide saw the value of their homes slip so considerably that they ended up owing more on their mortgages than the properties were worth

. However, that trend has slowly been reversing itself for some time, thanks to the market’s turnaround, and that continued into the first quarter of the year.

"underwater mortgage" "Short Sale"

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.