Have less-than-optimal credit? That doesn't necessarily mean you have to put your dreams of homeownership on pause. There are several factors that mortgage lenders consider when you apply for a loan, and there are even options available specifically for those with poor credit. Read on to learn more about buying a home with low credit. What's Considered 'Bad' Credit In Home Loan Financing? To determine if you qualify for a loan and at what interest rate, lenders look at your s
Whether you're a first-time home buyer or an experienced homeowner, you may be wondering if it's truly necessary to work with a real estate agent when buying a property. Here's what you need to know about working with an agent and how to go about purchasing a home without one should you choose to. Benefits of Working with a Real Estate Agent They're considered experts in the industry and can help you navigate the home buying process, which can be complicated and competitive.
A home equity line of credit (HELOC) is a type of mortgage loan that acts similar to a credit card, except the line of available credit is tied to your home's equity. So instead of using funds advanced to you by a creditor, you use the cash from the value of your home. HELOC Benefits Lower Interest Rates HELOC interest rates tend to be lower than personal loans or credit cards. You Only Pay For What You Use - You're charged interest only if you withdraw funds. No Closing Cos
If you're looking into real estate and home shopping recently, you've probably realized that the availability of houses for sale is limited, and the competition is fierce. Of course, this varies by neighborhood, but on average, we've found that there's only about 3.5 months' worth of new real estate available versus the usual 6 months' worth. But despite this stiff competition, it's still a great time to buy! Here are the top advantages of getting preapproved for a mortgage b
A title company's role is to verify that the current owner can legally transfer ownership to the home buyer --essentially, making sure the seller has the right to sell the property. In this blog, we'll go over how a title company determines legal ownership and the process of transferring the title. The Title vs. The Deed: Understanding the Difference Although they may sound like the same document, a deed and title are very different. A deed is a legal document used to transfe