Future Homeowners Page 6

  • Why Winter is the Right Time to Buy [INFOGRAPHIC]

    Why Winter is the Right Time to Buy [INFOGRAPHIC]

    The trees are losing leaves, the air is getting chillier and a cup of hot chocolate is calling. There's no doubt about it: Winter is coming. While you're nestled under layers of blankets, your homebuying dreams don't have to wait for spring. Check out this infographic about the perks of buying a home during the chillier months.

  • What The Experts Don’t Tell You About Increasing Your Mortgage Payment

    What The Experts Don’t Tell You About Increasing Your Mortgage Payment

    There's a fair amount of controversy over early mortgage plans and payments. Paying off your mortgage early comes with the psychological security of knowing you're in the clear. Mortgage debts tend to be the highest monthly payment for borrowers, and most people want to rid themselves of the financial sword of Damocles looming over head. But that sword has a double edge, and paying off a mortgage quickly isn't alw…

  • Should You Buy A Home Warranty?

    Should You Buy A Home Warranty?

    Read the Fine Print Before You Sign Up

    The marketing ploy is tempting to homeowners: buy a home warranty and repair issues like a broken heat pump or garbage disposal won't come out of your wallet. But as consumer experts warn, the reality is rarely that simple. "It's an industry that has seldom lived up to the hype of their marketing materials," said Clark Howard, consumer expert and author of "Clark Howard's Living Large for the Long Haul." "People have a very hard time getting the blanket coverage that's promised by the brochur…

  • What is Title Insurance And Why Am I Buying It?

    What is Title Insurance And Why Am I Buying It?

    Anytime you finance a home purchase — whether through a VA loan or a conventional mortgage lender — you're required to buy lender's title insurance as part of your closing costs. If you refinance, you'll need to buy lender's title insurance but not an owner's policy since the property isn't changing hands. Lender's title insurance protects the lender for the duration of the loan in case there's a titling issue such as a lien on the property or a boundary dispute with a neighbor. But what …

  • The Mysterious Escrow Account Explained

    The Mysterious Escrow Account Explained

    Does the term "escrow" mean anything to you? If you're a first time homebuyer, the word may be foreign, but it'll soon become very familiar as you take steps towards homeownership. Establishing escrow accounts is a part of every VA home loan. Escrow accounts are accounts established to collect funds on a monthly basis for items such as property taxes and homeowners insurance that are due once a year. By establishing escrow accounts, the company that services your mortgage is able to collect o…

  • Using Your VA Home Loan With a Unique Property

    Using Your VA Home Loan With a Unique Property

    Think Twice About That A-Frame

    You want to use your VA home loan benefit. You've gone through the pre-qualification and pre-approval process and now you're under contract. Warning: you're not in the clear yet. First an appraisal will be conducted to determine the value of the property and whether it's marketable. The VA and lenders will restrict the purchase on some unique homes due to the lack of marketability. The main purpose of restricting the purchase of certain unique properties is the marketability also frequently r…

  • 5 Expert Tips For Your VA Purchase

    5 Expert Tips For Your VA Purchase

    You're a veteran or service member, and you want to purchase a home. You've smartly decided to use your hard earned VA mortgage entitlement. But from there, you are less certain of how to ensure you get the best deal. There are numerous tips, tricks and negotiation tactics that can help you obtain a good deal. Here are 5 important tips to make the most of your VA purchase transaction. Ask For Seller-Paid Closing Costs When using your VA benefit, it's important to consider how you'll …

  • Should You Consider a 15-Year Mortgage?

    Should You Consider a 15-Year Mortgage?

    As interest rates inch upward, home-buyers looking to save on their loan may be considering 15-year mortgages instead of the traditional 30-year mortgage. Or those refinancing their mortgage may look into shortening the term with a 15-year mortgage. In fact, Freddie Mac data shows that 31 percent of homeowners who refinanced during the second quarter of 2013 shortened their loan term (a three percent increase from the previous quarter). A 15-year mortgage is best suited for those who are fina…

  • Pocket Listings Explained

    Pocket Listings Explained

    How Real Estate Agents Can Help Unlock The Door

    There is a phrase thrown around in real estate circles that is often unfamiliar to those outside the business: pocket listing. What's a pocket listing? A pocket listing occurs when a seller wants to sell their home, but instead of the real estate agent listing it on the multiple listing services (MLS), the agent withholds the listing from public circulation and informs potential buyers via word of mouth. So what does that mean for home buyers? Options There are several different opti…