Home prices are on the rise nationally. Record low inventory coupled with high demand is pushing prices up. If you’re looking to buy a home and considering stretching your finances a bit, remember that there are many costs beyond the selling price. It’s important to weigh all the “little extras” when figuring out your budget. Here are some top costs to conside ..

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You’ve got a lot to think about when you are buying a home. From calculating how much house you can afford to deciding what you are looking for in a property, it’s important to make sure you aren’t forgetting anything. Consider the following extra costs often incurred when buying a new home so you won’t be left scrounging for cash after your big purchase. 1. Inspection ..

The financial services industry is on the verge of an awesome hat trick with regard to residential mortgages. For the uninitiated, hat trick is sports-speak for three goals that are scored by the same player in a single game. In this instance, the trick revolves around three rather significant concessions the Federal Housing Finance Agency—the regulatory body for Fannie Mae and Freddie  ..

Buying a house is a costly financial commitment with longstanding effects on your finances. Deciding how much mortgage you can afford and how you want to structure your payment schedule can make a big difference in your future. Depending on your arrangement, you could be making payments on your property for 10, 20 or even 30 years. In that time you end up paying the principal back to the mort ..

Congratulations! You now own a piece of the American Dream. But before you sit back and rest in your new piece of real estate, here are a few financial tips for being a homeowner. 1. Use Your Home to Build Good Credit Make your mortgage payments on time every month, because late payments can stay on your credit report for up to seven years. If you’re having financial difficulties ..

Looking to get your foot in the door (of your new home)? If you’re a renter who’s tired of paying someone else’s mortgage, now may be the time to pursue the American dream of homeownership. In fact, the days of needing a 20% down payment are long gone. While you can always elect to put down the full 20% or more, there are now many alternatives available. Here’s what you wan ..

We all make financial missteps, whether it’s an impulse purchase in the checkout aisle or something less defensible, like an extended warranty or rental car insurance. But bigger purchases – like, say a home – can really magnify mistakes. Missteps when it comes to securing a mortgage often prove especially damaging, given the size and staying power of the obligation. He ..

The student loans that helped to finance your college degrees may make it more difficult for you to buy a home. Heavy student loan burdens can delay your home buying dreams for two key reasons. First off, if you are struggling to pay your student loan payments each month, it can be difficult to imagine saving up enough money for a down payment on a home, especially if you are getting by o ..

How buying a home impacts your credit depends on how you managed your credit throughout the lending process and how you deal with your mortgage payments after you become an official homeowner. How Applying for a Mortgage Affects Your Credit When you decide you want to buy a home, your credit plays a big role in the loan approval process. If you’re thinking about buying a home and want ..