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You can’t buy a house unless you’re married…right?
Wrong. Single men and women make up a big chunk of the nation’s homebuyers, and that trend continues to grow. Single homebuyers purchased 33 percent of all homes sold in 2011, up from 32 percent in 2010 and 31 percent in 2009, according to the National Association of Realtors.
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When you research the steps to buying a home, undoubtedly the first and most important step is to check your credit.
Checking your credit before the process of searching and purchasing a home begins allows you to get an understanding of your own financial situation and what to expect when it comes to lending and rates.
Another important reason to check your credit before you start looking for a home is to correct any mistakes. Discovering a mistake on your credit score too late can cost you a better rate or even the home of your dreams.
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Active military members nationwide are still tweaking budgets and otherwise dealing with adjustments to Basic Allowance for Housing rates that took effect at the beginning of the year.
Basic Allowance for Housing rates increased by 2 percent on average. Subject to change annually, these housing allowances vary depending on several factors, including geography, rank and family size. Service members considering a home purchase can use BAH to cover part or all of their monthly mortgage obligations.
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As cooler weather settles in throughout much of the country, you may be wondering what kind of dent heating your home this winter will make.
There are some simple, economical ways to keep costs manageable as well as to reduce your overall utility usage whether you’re in an apartment saving for a new home, spending your first winter in a new home or just trying to spend less on utilities this year in general.
When you research the steps to buying a home, undoubtedly the first and most important step is to check your credit.
Checking your credit before the process of searching and purchasing a home begins allows you to get an understanding of your own financial situation and what to expect when it comes to lending and rates.
See More
Source: MyFICO.com
A major concern for military families is their credit.
Although there are other ways to bolster your credit score, 91 percent of military respondents to a 2010 FINRA Investor Education Foundation study said they had at least one credit card.
When used responsibly, credit cards can help boost your credit score and provide financing breathing room for military families. But misusing credit cards can do the opposite.
Here’s a look at three ways consumers misuse credit cards and wind up damaging their credit reports:
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On the cusp of buying a home, it’s hard to see what damages could occur down the road. The rose-tinted glasses can be especially strong for military homebuyers who finance with a VA loan that practically eliminates down payments and out-of-pocket expenses.
VA loan borrowers should take advantage of those savings and set aside what otherwise would’ve been spent on a down payment or closing costs. This way, they can be prepared if these expensive home repairs spring up.
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It’s the one. Or is it?
When you find a house you love that’s in some disrepair, you feel torn. On the one hand, you could invest some money, time and energy in getting it fixed. Or you could keep shopping the market in hopes of finding the same house in mint condition. Look at these tips to assess what option is best for you.
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