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How much should you offer on the home you fell in love with?

You’ve spent the last few months looking for a home and now, the only thing that stands between you and having the right to negotiate full ownership of the home of you fell in love with is preparing an offer that will be acceptable to the seller. The purchase and sales agreement iis the first formal communication that leads to the final deal and eventually a closing when it’s time for you to take ownership of the property. The total agreement...

When is the Best Season of the Year to Buy to get the Best Deal

Since the market meltdown in 2008, the US housing market has rebounded dramatically. In fact, even if you purchased a property at the lowest point of the market crash and held onto it until today, your home would have appreciated by roughly 25 percent. What’s even better news is that It’s expected that the housing market will continue to climb in the future due to the changes that were made in the lending market coming out of the mortgage debacle. Plus, the economy...

How to get qualified to purchase a home for no money down

Even with all the insanity that happened during the mortgage meltdown and all the changes that resulted in how money would now be lent to buyers, there are still some amazingly affordable loan programs out there. Included among them, believe it or not, are no-money-down options for buying a home. Here are some of the best programs that are out there today and how you need to get qualified to purchase a home using them to buy a home for no money down. USDA Loans In...

Why Get Pre-approved? Structuring Your Offer to Get the Best Deal

Buying a home is a dream come true, but the process of getting an offer prepared and accepted can be a nightmare if you don’t know what you’re doing. There are over 80 variables that need to be managed properly when buying a home and mishandling just one of them could cost you tens of thousands of dollars in unnecessary expenses. Making a home purchase is expensive enough that you don’t need to part ways with any more of your hard-earned...

How to beat other buyers to hot, new listings (Before they even know about them)

Buyers want three things when they’re making a purchase: Selection: Have the largest number of options from which to choose Price: Get a smoking hot deal on what I want to buy Ease of doing business: Don’t make it hard for me to buy it It doesn’t matter if you’re buying shoes, a toaster or a house, all three of them matter and they usually matter in that order. And when it comes to buying a home,...

How to Find Bank Foreclosures and Distressed Sales

Everyone wants a hot deal. For those who have the ability/desire to work with a home that is, in most cases, less than perfect, foreclosures and distressed sales represent some of the hottest deals out there If you want to locate distressed properties, the first thing you have to understand is that no one will usually advertise their home as a “distressed property” unless they are absolutely desperate to unload their home. Homeowners,...

What will be your payment on your new home?

Buying a new home can be overwhelming. Between understanding the financial aspects of your loan and all the paperwork required to buy your home, things can get a little crazy. One of the biggest parts of getting a new home is figuring out the terms and conditions of your mortgage. Two of the biggest areas that impact your loan are credit and your down payment. In this post, we’ll cover both and also explain how to determine the down payment on your new home. Understanding...

How much you should put down to purchase your new home?

Historically, home buyers seek to put down 20% when they purchase a home. However, according to a recent survey by The National Association of Realtors (NAR), the actual national average is much closer to 10%. When it comes to first-time homebuyers, the average down payment is at 4% as per the same survey. While down payment requirements vary based on the lender you choose to work with, the amount required will usually depend on your credit score and your debt-to-income ratio....

What is the Interest write off deduction?

Tax deductible interest is a borrowing expense that a taxpayer can claim on a federal or state tax return to reduce taxable income. Mortgage interest for both first and second (home equity) mortgages, mortgage interest for investment properties are among the list of deductions you can take on your taxes. This is another reason why owning a home is more favorable than renting. In addition to building equity in a home that you can call yours, you have...

Owning vs. Renting

Making the decision to own a home versus renting one is no small decision. Not only does it affect your expendable cash, but it also has a huge impact on your lifestyle and how much money you’re able to save over time. Sometimes, the goal to achieve the “American Dream” of owning a home clouds some people’s vision for the future and they buy a home when they should really be renting one. Similarly, there are people who continue to...

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