Top Home Buying Financial Advice From the Experts

Planning on buying a house? Getting your finances in order ahead of time is a wise move but there are so many details when it comes to buying a home. Doing your research will put you ahead of the game and help win over the competition.

10 Ways to Stick to a Financial Plan

Whether you're planning on buying a home this year or just want to gain some financial freedom, making, creating and sticking to a budget and financial plan does take some will power and discipline. But what do you do when you want to cheat?

How to Consolidate Credit Card Debt and Save Money

Consolidating credit cards – Ridding yourself of the stress If you have been using credit cards as per your choice, you may already have fallen deep into debt. So, what now, when you already have incurred quite a lot of debts? What are the options which may be helpful enough for you to solve the credit card debt issues? Though there are different debt relief options, like that of credit card debt settlement, consolidating credit cards, credit card debt management and so on, you will have to try and change your spending habits.

How Much Money Do I Have to Put Down to Buy a House?

One of the biggest questions you want to be answered when considering buying a home is how much money you'll need to put down. By putting a larger down payment, it can reduce your monthly mortgage payment and protect you from any additional costs, but what happens if you just don't have the money? Downpayments and earnest money deposit do work in tandem. In earnest money, the deposit is the initial money that holds the property for you.

What's the Difference Between an Earnest Money Deposit and a Down Payment?

They are similar but are definitely different. One you give toward the beginning of the process, the other at the end but both go toward the purchase. Read more about the difference here.

Is Cash for Houses a Legitimate Thing?

What's up with all the "cash for your house" signs around? Is this a legitimate thing? How can you compete with investors and all cash offers? 

Should Your Family Co-Sign on a Home Purchase?

Have you been asked by a family member to co-sign either on an auto loan or bigger yet, a home loan? This is a huge undertaking and you are responsible if they don’t pay so are there any other options? Usually, the single biggest challenge for new homebuyers is coming up with the down payment, closing costs, and earnest money deposit’s. This is why FHA loans are so popular with first-time homebuyers as they only need 3 1/2% down payment. But, that 3 1/2% can be a financial gift from a family member making the co-sign option nonexistent. They are also more lenient as it relates to credit to qualify. But, even if an FHA option is not the best, there are other options and co-signing.

Outdated Mortgage Advice to Forget

Buying a home is probably one of the biggest purchases you'll ever make and signing all of those loan documents can be scary but it's important to understand some mortgage truths as there is a lot of information out there and it might not be accurate. Even things that worked in 2018 may not work in 2019. So let's debunk some of the myths and filter through some of the outdated mortgage information.

The Hidden Cost of Homeownership

Becoming a homeowner, especially for the first time, is one of the most exciting ventures you can have. This is the largest purchase you'll ever make and once you're in a home of your own, it will feel satisfying and secure, but that doesn't mean that you're off the hook when it comes to home maintenance and additional fees that come along with homeownership. Not only do I want to help our buyers find the right home and be satisfied with their purchase, but I want them to be aware of any additional fees and costs that come along with that homeownership. For this reason, here are five hidden costs to homeownership.

How to Avoid the Fixer-Upper Pitfall

As everyone now knows (thanks, HGTV!), putting some elbow grease into a home can result in some serious equity! Fixing up a home can be very advantageous … but “can” is the key word. Each scenario has to be looked at individually, and very carefully. I’ve seen everything from buyers purchasing, fixing, and flipping at a huge profit, to homeowners dumping time and money into homes that at the end of the day cost them money. Obviously very frustrating! How does one avoid the pitfalls? While there isn’t an easy answer, here are some thoughts:

Being Pre-Approved for a Home Loan is the BEST Way to Get the House

Remember that a pre-approval when getting a home loan makes you a quality home buyer. Most home buyers think that all they need is a pre-qualification (PQ) letter. Not so. PQ letters you can find online and fill them out yourself. Most lenders freely hand out a PQ without doing a diligent check. A pre-approval confirms that the lender did check your ability to buy and is willing to lend you the money, a strong statement when there are other offers.

 

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