Using a mortgage loan to buy a house has historically been a wise decision. Unlike other types of debt such as credit card debt, a mortgage is a ‘good’ use of debt since you are buying something that has the potential to appreciate over time (unlike clothing and cars which usually lose value). In addition, you … Continue reading Home Buying Mortgage Basics
You’ve got the perfect apartment but can’t afford the price. You’re tempted to go find a room-mate to share the costs but have heard some horror stories of “roomies” gone bad. So what to do? First step is to start searching for that compatible roommate. But even if you find the “perfect” room-mate, don’t overlook … Continue reading Sharing an Apartment: Agreements for Roomies
Before you go shopping for the dream apartment, you need to know what part of your fantasy you can afford and what very practical and real issues will affect your decision. Don’t bother reading the ads or wasting your time or the time of an agent until you’ve done the steps to determine just what … Continue reading How to Find your Dream Apartment
There are several ways to work to pay off your mortgage faster.
If you can come up with the money you will need for your down payment and closing costs you will save significantly in the long run, but how to get past the pinch now?
There are literally hundreds of different types of mortgage products, designed by financial institutions to offer a greater degree of creativity, affordability and flexibility. But most of these products can be divided into two basic groups when it comes to interest rates: adjustable and fixed. While some armchair analysts will steadfastly recommend one over the … Continue reading Adjustable and Fixed Rate Mortgages — Which One is Best for You?
One of the most lucrative tools for saving money is the current tax credit available to home buyers.