Millennials: Ready to Buy a Second Home and Rent Out Your First?
You’re ready to move on, but that doesn’t mean you have to let go of your first property.
second home
Buying a Rental Property vs. a Typical Mortgage or Second Home
If youâve purchased a home or property at some point in your life, you might think youâre prepared for the process of buying a rental property. That may not be the case, though. The financing process for rental properties can be quite different than it is with other properties. When you buy a rental property, […]
The post Buying a Rental Property vs. a Typical Mortgage or Second Home appeared first on The Simple Dollar.
‘I Bought a House in a Flood Zone’: Here’s How We Don’t Sink
Should you ever buy a house in a major flood zone? I did, and here’s how I assessed the risks, protect our property, and maintain peace of mind.
The post ‘I Bought a House in a Flood Zone’: Here’s How We Don’t Sink appeared first on Real Estate News & Insights | realtor.com®.
Fannie Mae and Freddie Mac Roll Out New Payment Deferral Option
To further complicate the complicated mortgage relief picture surrounding the coronavirus outbreak, Fannie Mae and Freddie Mac have released their new âpayment deferralâ option early. Originally slated to roll out on January 1st, 2021, the pair are encouraging loan servicers to begin evaluating eligible borrowers on or after July 1st, 2020. Note that this relief [&hellip
The post Fannie Mae and Freddie Mac Roll Out New Payment Deferral Option first appeared on The Truth About Mortgage.
Figure Review: The Fastest Way to Tap Home Equity?
I received a letter in the mail the other day from a fintech company called âFigureâ that claims it can approve me for a home equity line of credit (HELOC) online in five minutes. Better yet, they can fund the thing in as little as five days, assuming Iâm able to use their remote online [&hellip
The post Figure Review: The Fastest Way to Tap Home Equity? first appeared on The Truth About Mortgage.
What Is a Gift of Equity?
One of the biggest hurdles to homeownership is down payment. Most people can afford a monthly mortgage payment, especially with interest rates so low, because itâs often not too different than a rent payment. But coming up with 20% of the purchase price is a different story. Heck, most Americans donât even have a couple [&hellip
The post What Is a Gift of Equity? first appeared on The Truth About Mortgage.
Why Choosing the Right Checking Account for Your Lifestyle Matters
As you grow financially, your checking account should be keeping pace with your needs.
The post Why Choosing the Right Checking Account for Your Lifestyle Matters appeared first on Discover Bank – Banking Topics Blog.
18 Reasons to Refinance Your Mortgage
There are many reasons to refinance your mortgage, some obvious and some a bit more obscure and/or different. I figured Iâd compile a list of the many reasons I can think of to refinance. Some of the situations are complete opposites of one another and will depend on your unique financial goals and/or risk appetite. [&hellip
The post 18 Reasons to Refinance Your Mortgage first appeared on The Truth About Mortgage.
Primary Residence vs. Second Home vs. Investment
Sometimes Iâm surprised I miss the most basic of mortgage definitions, seeing that this blog has been around for more than a decade, but alas, Iâve never written about occupancy specifically. So without further ado, letâs talk about the three main types of occupancy with regard to qualifying for a mortgage because they’re pretty important. [&hellip
The post Primary Residence vs. Second Home vs. Investment first appeared on The Truth About Mortgage.
Tax Deductions on Home Equity Loans and HELOCs: What You Can (and Can’t) Write Off
Have a home equity loan or home equity line of credit (HELOC)? Then you’ll want to know if this debt is tax-deductible. Here’s what is, and isn’t.
The post Tax Deductions on Home Equity Loans and HELOCs: What You Can (and Can’t) Write Off appeared first on Real Estate News & Insights | realtor.com®.