Buying an Owner-Occupied HUD Home
First-time buyers often finance their homes through the federal government, primarily by way of FHA-insured loans. When the property owner fails to make mortgage payments on the property, FHA initiates [more…]
Investing in Fannie Mae and Freddie Mac Properties
One of the ways the federal government promotes homeownership is by providing financing through Fannie Mae (FNMA or Federal National Mortgage Association), Ginnie Mae [more…]
Considering Disadvantages to Paying Cash for Your Second Home
When considering paying cash for your second home, you need to think about more than just whether you have the money to cover all the related costs. You also need to keep in mind long-term tax strategies [more…]
Flipping Strategy: Buying into a Hot Market
When most people think of flipping houses, they immediately envision a process of buying a ramshackle house on the cheap, fixing it up, and then reselling it for more than they've invested in it. That's [more…]
The Pros and Cons of Owning Your Own Home
If you’re considering buying a house, use the Pros and Cons of Homeownership worksheet provided here to guide your decision as to whether home ownership is right for you. Put a check mark in one box on [more…]
How Much Home Can You Afford?
Just because you qualify for a mortgage doesn’t mean you can actually afford the house; consider how much you can actually pay for a home. It's a good idea to buy something with slightly lower payments [more…]
How and Why to Get Preapproved for a Mortgage
Before you get serious about making an offer on a new home, obtain from your mortgage lender a prequalification letter at minimum, or better yet, a preapproval letter. A preapproval letter from a lender [more…]
Beginning Your Search for the Right Home
After you have invested time determining the amount of money you can afford to spend on a new home, examining the type of mortgage that may be most appropriate for you, and getting a preapproval letter [more…]
