From the 1990s to today, we have seen a huge increase in the need for affordable housing. By “affordable”, most lenders view this as having a maximum of 30% of a person’s income dedicated to the household. For people who have a higher percentage rate, they are deemed as risky or too in debt. Because of that, trying to own a home becomes a distant and frustrating dream. However, through numerous studies, it has been determined that approximately 12 million people in the United States who rent or own a home actually have more than 50% of their income going … Continue reading →

If you are interested in buying a home but want to save money, one option is to go with a fixer upper. Although this type of home would need work, chances are you could find a home that could be lived in at the same time renovations are occurring. Just keep in mind that a fixer upper is not for everyone. Therefore, you want to consider a number of things first to make sure this type of purchase is a good option for you. With a fixer upper, the point is to purchase a lower priced home that is in … Continue reading →

When looking at buying a home, there will be taxes associated with the purchase. However, have you ever wondered who determines the amount of taxes you will pay? If so, you are not alone. This individual is the Property Appraiser who has the responsibility of determining the value of property within a certain county for tax purposes. Keep in mind that this county officer determines property tax values but when it comes to the amount of money required for any services provided, that falls back to the local taxing authorities. In addition, the amount of taxes paid is not something … Continue reading →

As you start your search for a new home, you will discover that you have many excellent options. For instance, there are mobile homes, condominiums, apartments, traditional single-family homes, and prefabricated homes. As you will discover, prefabricated homes are an excellent solution for many people, providing a comfortable and secure home to own. A prefabricated home is one in which all the components are already built and pre-assembled at the factory where it is made. After completion, the home is then moved to the location where it will be placed on a foundation with the use of a powerful crane. … Continue reading →

When buying a new home, you want to keep your options open in a number of areas. For instance, we strongly consider you invest in a home warranty. Sometimes, you will find a home on the market with a warranty already attached. In this case, the warranty may be transferable to the new owner or you might have the opportunity to purchase it, which we would highly recommend. If not, you should check out your options for a home warranty on your own. Home warranties are designed to provide you with protection over a designated timeframe. Although some warranties will … Continue reading →

Trying to find the best possible real estate agent when interested in buying a home can be a long, confusing process. Obviously, you want the best agent possible, someone with a strong reputation, and an agent that will provide you with a realistic valuation of the home at no cost. The key to buying or selling is having a solid relationship with your real estate agent so you trust him or her and vice versa. You will need to make sure you use someone familiar with the area and one that is trusted in the community. In addition, you need … Continue reading →

When purchasing a home many different factors are associated in bringing it all ogether, one of those being title insurance. However, not only is title insurance misunderstood but it is often not understood. The best way to think of title insurance is as protection for you! Just as you would need insurance on your car to protect you, other people, and the vehicle in the case of an accident, title insurance also provides needed protection. Think of it this way – any lender that puts money on the line for you to buy a house is going to want some … Continue reading →

Although you might be tempted to rush out and start house hunting, the truth is that there is a right and wrong time to buy. Unless you are prepared to make this type of investment, you could find yourself being denied a loan. Therefore, the most important thing is to get everything set up first so that when you do go to buy, the process will be quick and easy, but more important, so you buy the home you want. The bottom line is that by delaying the purchase of a home, you would have time to come up with … Continue reading →

Points associated with a mortgage are difficult to understand. Unfortunately, not understanding could mean paying thousands of dollars that could be used better elsewhere in the process. Keep in mind that there are situations when points are helpful but the key is to understand what they are, as well as when they are and are not needed. Think of points this way – they are dollars paid as percentages on your mortgage loan. Typically, points help to secure lower interest. Keep in mind that if you pay money upfront, points work by letting you pay a lesser amount monthly. However, … Continue reading →