Buying a home can be one of the biggest and most exhilarating purchases of your lifetime. Especially in a time when young people are having more difficulty locating affordable housing, finding yourself in a situation where you think you have finally saved up enough money for a down payment on your first home can be […]
The post Do You Still Need to Put a 20% Down Payment On a House? appeared first on SoFi.
Saving to buy a house requires more than just saving for a down payment. You’ll need to think about factors, such as closing costs and moving expenses, to name a few. If you’re worried whether you’ll be able to set aside enough – putting down 20% is ideal – you’re not alone. A 2021 Zillow […]
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A mobile home, also referred to as a manufactured home, is a style of home built in a factory. This factory-made home is then placed on a trailer chassis, a set-up that allows the owner to move the home if need be. In many cases, the owner rents or leases the land their mobile home […]
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Mortgage Q&A: âWhat is a streamline refinance?â While qualifying for a mortgage refinance is generally a lot harder than it has been in the past (now that lenders actually care how your home loan performs), there are less cumbersome options available. In fact, many lenders offer âstreamlinedâ alternatives to existing homeowners to lower costs and… Read More »What Is a Streamline Refinance?
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Despite the Fair Housing Act of 1968 and other federal laws, a large race gap in homeownership continues to exist across the United States. The Black homeownership rate in the fourth quarter of 2021 stood at 43%, compared with 74% for non-Hispanic whites, according to the U.S. Census Bureau. A large race gap in homeownership […]
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Trade In Your Old Home Loan for a New One Fundamental mortgage Q&A: âHow does mortgage refinancing work?â When you refinance a mortgage, you trade in your old home loan for a new one in order to get a lower interest rate, cash out of your home, or to switch loan programs. In the process,… Read More »How Does Mortgage Refinancing Work? Do You Want a Lower Rate or Cash Back?
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Before you hit the Zillow listings you need to ask yourself: How much house can I afford? Hereâs how to figure out all the factors that go into this huge investment.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
With home prices on the rise, and only expected to go higher this year, you might be wondering how to get a bigger mortgage. After all, you might need one if the purchase price is above than your original estimate, or if you’re short on down payment funds. These days, bidding wars are the norm,… Read More »10 Ways to Get a Bigger Mortgage: With Home Prices On the Rise You May Need One
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Condo resales sparked record 2021 housing market in Chicago Loop North News