When purchasing a home, particularly a condominium, townhouse, or a property in a planned community, prospective buyers must account for more than jus...
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The journey to homeownership is paved with important documents, and one of the most critical early milestones is receiving the Loan Estimate from your...
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The pursuit of homeownership and financial leverage often leads borrowers through a series of loans, starting with a primary mortgage and potentially ...
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A mortgage is often the largest financial commitment a person will make, and the initial interest rate you secure is not necessarily the one you must ...
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The choice between a 15-year and a 30-year mortgage is one of the most significant financial decisions a homebuyer or refinancer will make. This decis...
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In the ever-evolving landscape of real estate financing, an often-overlooked option presents a unique opportunity for both buyers and sellers: the ass...
Read MoreThird mortgages are not offered by traditional banks or major lenders. You will need to seek out private lenders, hard money lenders, or specialized alternative finance companies. Be prepared for rigorous scrutiny and less favorable terms.
The interest rate is the cost you pay each year to borrow the money, excluding any fees. The APR includes the interest rate plus other costs like origination fees, discount points, and certain closing costs, giving you a more complete picture of the loan’s true annual cost.
Lenders view a stable employment history as a key indicator of reliability and your ability to make consistent, on-time mortgage payments. It reduces their perceived risk, showing that you have a steady, predictable income stream to cover the loan over the long term.
An ARM may be a good fit for someone who:
Plans to sell or refinance before the initial fixed period ends.
Expects their income to increase significantly in the future.
Is comfortable with some financial uncertainty and risk.
If you believe your property tax bill is incorrect (e.g., the assessed value is too high), you have the right to appeal it with your county’s tax assessor’s office. The appeal process and deadlines vary by location, so you should contact the assessor’s office directly for instructions. It’s important to act quickly, as there is usually a limited window to file an appeal.
