Who gets the best rates? Lenders regularly publish mortgage rates but they may not be available for all buyers. Imagine, the mortgage payment based on an advertised rate influenced a buyer to make an offer on a home. After negotiating a contract, this buyer makes a loan application and finds out, that for any number… [Read More]
Six Reasons to Consider Rental Homes
Investing in rental homes offers many advantages. Single-family homes offer an investor the ability to borrow large loan-to-value amounts at fixed interest rates for long terms on appreciating assets, tax advantages and reasonable control. Some of these characteristics are not available through other investments. 75-80% loan-to-value mortgages are available on most residential properties up to… [Read More]
Home Buyers – What Would You Give in Order to Buy a Home?
Yogi Berra said he’d give his right arm to be ambidextrous. While most first-time home buyers are not going to that extreme, it is interesting to see what sacrifices are being made according to the National Association of REALTORS® 2016 Profile of Home Buyers and Sellers. 43% – cut spending on luxury or non-essential items 34% – cut… [Read More]
Mortgage Loans from Relatives
There are many way to obtain mortgage loans. Occasionally, when dealing with close relatives who might also become heirs, signing a note and handling the paperwork properly may seem like a needless effort but it could mean the difference in being able to take a legitimate interest deduction. Home mortgage interest is deductible only if the… [Read More]
Home Inventory – Proof of Purchase for Property Loss
People who experience a property loss are usually asked by their insurance company for proof of purchase which can come in the form of a receipt or current inventory of their personal belongings. Even the most organized people might find it challenging to find receipts for all the valuables in their home. If the inventory… [Read More]
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