How Much Cash Will I Need? The amount of actual cash that it will take to move into your new home has dozens of variables associated with it. However, the following can be a helpful guide. Down Payment – The down payment may be as little as the FHA required 3.5% of the cost of the…
What Can I Really Afford? In some ways determining the amount that you can afford to pay for a new home may seem like a simple process. You figure out your net income after taxes, then you subtract all of your other payments and expenses other than housing. The answer you get is how much…
What Credit Score Do I Need? Credit scores remain one of the key components a lender uses to evaluate a potential borrower. Because the report essentially rates a person’s responsibility – do they pay your bills on time? – having a late payment, collection, or settlement has negative consequences far beyond any relationship to the…
Home Mortgage Loan Refinance – Uses and Benefits Mortgage Refinance To Lower Your Mortgage Rate and/or Payment Even a small reduction in your mortgage interest rate can make refinance worth the cost and time. When you refinancing to lower your monthly payment you free up money for other uses. If you plan to stay in…