When you buy a house, a home inspection is highly recommended. You aren’t just buying a high-end kitchen, or cozy family room with a fieldstone fireplace, you are also buying any problems lurking behind the walls. The home inspector will look at structural issues and other potential problems that could make the home a bad investment. After the inspection is completed, you usually have about 10 days to pull out of the sale.Continue reading “How to negotiate the buying price of a home after inspection”
Flipping houses sounds like such a fun and profitable way to make money. You find a diamond in the rough for a great price, spend a few weeks to a few months updating, upgrading, and making the home look fresh and new, and then turn around and sell it for a tidy profit. Sounds simple, right?Continue reading “Flipping a house is nothing like HGTV”
If you are planning to list your own home for sale or will be buying a new home, you may be wondering what should be left behind. There are 2 ways to find out what is included. Continue reading “Selling your home? What you can and can’t take with you”
If you’ve thought about selling your home recently but assumed that you missed the Home Hunting Season – think again. While in the past, the Winter may not have been the best time to sell your home, there are actually a few BIG reasons why selling your home in the Winter is a WIN! Continue reading “Why selling your home in the Winter may be a WIN!”
One of the biggest milestones in your life is graduating from college. It’s a symbol of independence and the start of your life as an adult. You’ll be on the hunt for a new job, a possible new place to live (Mom and Dad’s isn’t that bad, right?), and starting to manage your own money, including paying back those student loans. You don’t want to start your finances off on the wrong foot or overextend yourself from the get-go. Continue reading “Money Managing tips for Recent Graduates”
If you are looking for cash to invest in real estate, pay down high-interest loans, complete a home improvement project, or pay off an emergency medical bill, you might be wondering which the better option is: borrowing from your 401k or your home equity via a loan or line of credit. The answer depends on how you plan to use the money, how much money you need, and how long it will take you to pay it back? Continue reading “I need cash – should I borrow from my 401K or my home’s equity?”
If you’ve purchased a home in the past few years, you’ve probably noticed that the mortgage underwriting process has become more robust and detailed compared to the early 2000’s. Making sure you dot all your i’s and cross all your t’s is an important part of making sure your mortgage application moves through the underwriting and approval process smoothly. So, it’s important to understand what underwriters are really looking at when they review your application. They are trained to spot financial mismanagement, and they are very detailed when it comes to reviewing your finances before approving or denying you for a home loan. Continue reading “Mortgage Underwriters – What they do and how they review your application”
The process of moving is stressful enough without factoring in the added costs of packing supplies, truck rentals, mover fees, etc. even if you are just moving across town. Knowing what you’ll need to spend, where you can save and being able to budget appropriately can help keep the stress down and keep some dollars in your pocket. Continue reading “How to save money when moving”
Refinancing your home is a major financial move that could result in some significant savings for you OR it could make your situation worse. There are typically 2 types of refinancing options:
- A rate and term refinance with a goal to save money. You refinance your remaining balance for a lower interest rate and a term (number of years it takes to repay the loan) that you can afford.
- Cash-out refinancing, where you take out a new mortgage for more than you owe and take the difference in cash, for example, to pay off existing debt.
Although they sound interchangeable, a pre-qualification and a pre-approval for a loan are two very, very different processes. Not understanding the difference can often lead to missed opportunities when you are buying a home. Continue reading “Mortgage Pre-Qualification vs. Pre-Approval – Know the difference!”