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Step-by-Step Guide on How To Buy a House in 2023

Step-by-Step Guide on How To Buy a House in 2023

Source: MSN --- Buying a home is an integral part of the American dream. There's something special — almost sacred — about the idea of owning your own property where you can raise kids and grow old with your spouse before passing on that property to your descendants....

Why First-Time Homebuyers are Avoiding FHA Loans

Why First-Time Homebuyers are Avoiding FHA Loans

Source: Yahoo! Finance --- For many years, homebuyers seized upon the option to purchase their first house with a loan backed up by the Federal Housing Administration (FHA). This allowed them to put down as little as 3.5% of the total cost upfront, which meant owning...

Your 2023 Guide to Low-Down-Payment Mortgages

Your 2023 Guide to Low-Down-Payment Mortgages

Source: The New York Times ---  It’s a perennial question for would-be home buyers: How can I possibly come up with such a huge down payment? The short answer, usually, is you don’t have to. Most first-time home buyers (and even many repeat buyers) don’t have the 20...

How much mortgage interest can you deduct on your taxes?

How much mortgage interest can you deduct on your taxes?

Source: CBS News --- Everyone wants to save on taxes, and one of the best ways is to maximize every possible deduction.  The mortgage interest deduction used to be a mainstay for consumers, but the past few years have changed that. Some homeowners may be better off...

Mortgage delinquencies edge higher going into 2023

Mortgage delinquencies edge higher going into 2023

Source: firsttuesday Journal --- Underwater homeowners gain more company While an economic recession is not yet official in 2023, consumers are struggling to keep up with everyday expenses — including housing payments. 3.0% of U.S. mortgaged loans were 30 or more...

Taking a flying leap into mortgages

Taking a flying leap into mortgages

Source: MPA Mag ---  It’s only during life’s more painful episodes that people are invariably forced to reconsider their place in the world, and sometimes their career. Inevitably, it involves change, but taking that momentous first step is often the hardest because...

What to Do With an Underwater Mortgage

What to Do With an Underwater Mortgage

Source: US News ---  An underwater mortgage, also called an upside-down mortgage, occurs when the loan's principal balance is higher than the home's fair market value, resulting in negative equity. In other words, a mortgage becomes underwater when you owe more than...

Most homebuyers don’t shop for mortgages: Zillow

Most homebuyers don’t shop for mortgages: Zillow

Source: Fox Business --- When it comes to researching which purchases best fit their finances, buyers said they spent more time browsing for cars and vacations than they did mortgages, a recent survey by Zillow Home Loans said. Seventy-two percent of prospective...

Mortgage rates increase after six weeks of declines

Mortgage rates increase after six weeks of declines

Source: Yahoo! News --- Mortgage rates increased this week, breaking their six-week streak of declines just ahead of the new year. The average rate on the 30-year fixed mortgage rose to 6.42% from 6.27% the week prior, according to Freddie Mac. That marked the first...