Real Estate

02

May

Home Mortgage

Bridge Loans: What You Need To Know

Are you in the process of selling your home? You probably want to buy a new one right now to ensure you have another house to move into, but what happens if you do not have the cash to buy a home right now? You might need to cash from your current home before you can purchase your next home, but can you really wait to sell your house before buying another one? A bridge loan can help you fix this issue. What Is A Bridge Loan? A bridge loan has been specifically designed to let you tap into the equity…

27

Apr

By lizlaurenb

Mortgage, Real Estate

What Is A Mechanic’s Lien?

A mechanic's lien is a legal claim placed on a property by a contractor, subcontractor, or supplier who has provided labor, materials, or equipment to improve the property. The lien serves as security for the payment of the debt owed to the party who provided the services or materials. Mechanic's liens are typically used in the construction industry, where contractors and subcontractors may perform work on a property and then have difficulty obtaining payment from the property owner. The lien provides the contractor with a legal means to collect payment for their work by placing a hold on the property…

25

Apr

By lizlaurenb

Real Estate

The Top Homeownership Expenses You Need To Know

Owning a home can be an exciting and rewarding experience, but it's important to be aware of the expenses that come with homeownership. Understanding these costs can help you prepare for and manage them effectively, ensuring a smoother transition into your new home. The Mortgage Payment The mortgage payment is typically the largest expense that homeowners face. This monthly payment consists of the principal and interest on your home loan. The principal is the amount you borrowed to purchase the home, while the interest is the cost of borrowing the money. The length of your loan term and the interest…

21

Apr

By lizlaurenb

Real Estate

How Do You Tell If A Neighborhood Is The Right One To Settle In?

Choosing the perfect home to settle in can be a tough decision. You have to weigh in on many factors including price, size, features and amenities, number of bedrooms and baths, design, and so on. However, all these factors are not enough to give you a great home ownership experience if you fall into the wrong neighborhood. Picking the right neighborhood not only guarantees you happiness and comfort, but also helps with home appreciation for the sake of future re-sale value. In most cases, though, it can be tougher to find the perfect neighborhood than it is to find the…

19

Apr

By lizlaurenb

Real Estate

Purchasing A House That Requires Repairs: What To Know

If you are looking for a way to save money on the purchase of your next home, you might be thinking about buying a property that requires repairs. Keep in mind that you will not be able to move into this property right away, so is it the best option? You could open the door to unique financing options that could make it easier for you to purchase your next property. FHA 203(k) Rehab Loan One of the best options available is an FHA 203(k) rehab loan. This is a convenient option because it allows you to finance both the…

18

Apr

By lizlaurenb

Real Estate

What Does It Mean To Be In A Sellers’ Market: A Brief Overview

In the realm of real estate, market conditions can differ significantly due to a variety of factors. One such state is known as a sellers' market, which typically benefits those wanting to sell their property. Let’s dive into what makes a sellers' market advantageous for homeowners looking to offload their house and why it's an attractive option for buyers too. A Lack Of Inventory The lack of available homes creates supply-side pressure in a sellers' market; there are fewer houses on offer than there are prospective purchasers searching for them. This scarcity could be attributed to many reasons including economic…

14

Apr

By lizlaurenb

Real Estate

A Home Equity Loan Versus A HELOC

If you are looking for a quick source of cash, you may have been told that you can tap into the equity in your home. If you have at least 20 percent equity in your home, you can borrow against that equity at a relatively low interest rate for a quick source of funding. You might be deciding whether to apply for a home equity loan or a home equity line of credit, which is usually shortened to HELOC. Home Equity Loan A home equity loan is a loan that you will receive based on the equity you have in…

13

Apr

By lizlaurenb

Real Estate

Moving From An Apartment To A House? Here’s What You Need To Remember About Your Lease

The major problem that the vast majority of buyers will run into - especially when purchasing their first home - has to do with a lease agreement that is still active with their apartment complex at the time of the purchase. If you locate the perfect home in February but your lease isn't over until August, you can't be expected to wait around. But at the same time, the remainder of that lease agreement could represent thousands of dollars that you'll be paying to essentially "live" in two different places at the same time. Luckily, all hope is not lost.…

07

Apr

By lizlaurenb

Real Estate

Buying A House With No Money Down

If you dream of owning a house one day, you have probably realized that one of the biggest challenges is saving money for a down payment. You have already found your dream property, but then the lender asks you to put 20 percent down, which can be tens of thousands of dollars. Fortunately, there are alternative options available, and you may be able to purchase a home for no money down. VA Loans One option for qualifying borrowers is a VA loan. As the name suggests, this is a loan that is backed by the Department of Veterans Affairs, and…

06

Apr

By lizlaurenb

Real Estate

6 Money Making Tips For The First Time Home Seller

Today's homebuyers can have specific ideas and personal preferences that influence their decision on what attracts them to a particular property. While some prefer a fixer-upper, many desire a home that’s as close to turn-key as possible. First time home sellers may help expedite the process with these six home selling tips. Determine Right Listing Price A home priced competitively in its market typically sells faster. Professional REALTORS® know the area and look at comparative listings to help determine the right listing price. First time home sellers often think their home should list higher, and this can turn away buyers.…