If you’re fresh out of college and settling in at your first or second job, homeownership might be out of sight, out of mind. But there’s a lot you can do in your 20s to better position yourself for buying a home when the time is right. You’ve got plenty of company if you’re not ready…
Your debt-to-income ratio plays a large role in whether you’re ready and able to qualify for a mortgage. This figure, the percentage of your income that goes toward paying your monthly debts, helps lenders figure out how big a monthly mortgage payment you can handle. It’s as important as your credit score and job stability,…
It’s one of the nitty-gritty details you’ll stumble upon when buying a home: the escrow account. And you probably won’t encounter one again anytime soon, at least until you buy your next house. An escrow account is money held by a third party until all legally required conditions have been met. That trusted third party…
Buying a house is exciting, intimidating and, honestly, a bit complicated. If you’re like most young home shoppers, you’ll spend close to three months just finding “your” home. It’s an emotional roller coaster. You might find what seems the perfect place, only to learn that it’s way over your target price. And that in-your-budget “fixer-upper”…
Coming up with the right price when selling your home is a balancing act. You want to ask for as much as possible, but not so much that you turn away potential buyers. You also don’t want to cheat yourself with a price that’s lower than your home’s worth. The “right” price is one that’s in…
Owning a home isn’t always a happily-ever-after story. On any given day, you might deal with a leaky roof, a weedy lawn or a bad neighbor. Homeowners associations can help with these inconveniences. HOAs are governing bodies found within common-interest communities, such as planned or gated neighborhoods and apartment or condominium buildings. They’re run and…
All those hours of searching online real estate sites for the perfect home hopefully leads to this moment: spotting a place that makes you say, “This could be the one.” It’s one of the highlights of buying a home. Go ahead, pore over all the photos. Picture how you’ll arrange your furniture. But you should…
When house-hunting fever strikes, it can hit hard. You’ll probably download a home search app or two and jump into the car, ready to explore a new neighborhood. Before you do, here are answers to some questions that might pop up along the way. What’s the difference between a real estate agent and a Realtor?…
As you consider buying a home or refinancing your mortgage, it’s likely you’ll eventually look for a mortgage calculator online. As with anything else, there are tons of search results. And as usual, only a handful are relevant or even useful. We jumped into the deep end of those results, and here’s what we found. Making the…
If you’re shopping for a house in one of the country’s hottest real estate markets, where the supply of houses is low and demand is high, you may find yourself in a bidding war, with multiple offers pushing prices ever higher. Add low mortgage rates into the mix, and buying a home can feel like you’re in…
