05
Apr
By Jim Hasek
Home Mortgage Tips, ,

Budgeting for a New Home?: 3 Unlikely Costs to Consider in Your Overall Budget

If you're planning to buy a new home in the near future, you're probably working hard to prepare a budget and determine how much you can afford before you start viewing homes. While it's good to have an idea of what you can pay for a new house, many buyers routinely miss several key home buying costs that can later cause a variety of problems. Before you start looking for your new home, make sure you add these three commonly forgotten costs to your budget. Title Insurance: Critical Protection Against Title Claims Title insurance is something that most buyers forget…
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31
Mar
By Jim Hasek
Home Mortgage Tips, ,

Rookie Mistakes: Don’t Make These 4 First-Time Homebuyer Mistakes

Buying your first home is exciting. Many young people view homeownership as the definitive mark of adulthood, the final milestone on a decades-long journey. And while becoming a homeowner is cause for celebration, you'll want to ensure you keep your enthusiasm in check just a little while longer. Keep a level head and you'll easily avoid these common mistakes first-time buyers make. Don't View Your Home As An Investment First-time buyers commonly think that they can invest everything they've saved into a home, fix it up, and then sell it for a large profit in a few years. However, a…
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29
Mar
By Jim Hasek
Home Mortgage Tips,

The Top 5 Mortgage Calculators on the Web and the Pros and Cons of Each

If you're shopping for a great mortgage, you'll want to use a mortgage calculator. Mortgage calculators keep getting more accurate and more complex, allowing you to explore the various details involved in a mortgage. Try one of these mortgage calculators to learn what you can expect. ML Calc: A Simple, Straightforward Calculator With Current Rates ML Calc (mlcalc.com) is a simple mortgage calculator powered by mortgage software company Arsidian. And just one click, you can open up a new window that shows you the current mortgage and refinancing rates in your city. However, the user interface is outdated and simplistic,…
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23
Mar
By Jim Hasek
Home Mortgage Tips, ,

5 Steps Towards a Better Credit Score You Can Take Today

When it comes to finding the best mortgage, your credit score is a major determinant as to the kinds of rates and conditions you can get. Lenders quite understandably want to manage their risk. But for a number of potential homeowners, these practices and policies can be a barrier to home ownership. The good news? If your credit score isn't great, you can easily improve it and get better lending terms. Here are five steps you can take right now to give your credit a boost. Get Your Annual Credit Report And Dispute Errors Simply disputing errors on your credit…
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22
Mar
By Jim Hasek
Home Mortgage Tips, ,

Retiring Soon? Learn How a Reverse Mortgage Can Add to Your Retirement Security

If you're nearing retirement, you're likely starting to think about your savings and retirement plan and how you can ensure a financially secure retirement. With your peak income-earning years largely behind you, you'll need to work with what you have in order to ensure a livable retirement income. That's where a reverse mortgage may be a sensible option. How does a reverse mortgage work, and how can it help you to have a more financially secure retirement? Here's what you need to know. A Reverse Mortgage Is Tax-Free And Saves Your Social Security Benefits Social Security benefits offer a basic…
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16
Mar
By Jim Hasek
Home Mortgage Tips, ,

Understanding Mortgage Tax Benefits and How They Save You Money in the Long Run

If you're considering whether home ownership is the right decision for you, there are lots of different factors you'll want to take into account. Do you want to keep moving around, or are you ready to lay down roots in a community? Are you prepared for the additional upkeep that home ownership requires? But one of the big factors in home ownership that few potential buyers consider is the tax benefits of getting a mortgage. Although it may seem counterintuitive, getting a mortgage on a property that you own can reap lots of dividends come tax time. So how does…
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