The rule of thumb is that you should not spend more than 30% of your household income on rent. This means that if your combined household income is $10,000 per month, then your rent should be no more than $10,000 x 0.3, which comes out to be $3,000. This 30% rule of thumb exists so …
Finding your dream home can feel like looking for a needle in a haystack. Keep in mind these essential tips when searching for the perfect fit. Key takeaways Set a budget by getting pre-qualified for a mortgage before home search.Consider location: proximity to work/school, safety, preferred school district. Prioritize features like size, bedrooms/bathrooms, outdoor space, …
You may be wondering what it means to refinance, the benefits of refinancing, and what different refinancing options are out there. Check out this quick article to learn more! Key takeaways Refinancing replaces your current home loan with a new one for lower payments, interest rates, term, or equity access. Options include changing from ARM …
Refinancing Your Home Mortgage: The Basics & Benefits Read More »
Buying a house is one of the biggest financial decisions you can make. Here’s how you can set the right expectations about the road ahead, along with some tips to help you along the way. Key takeaways Buying a home is a significant financial and emotional decision. Emotional lows include deceptive listings, open house …
The Emotional Highs and Lows of Buying Your Dream Home Read More »
Mortgage lenders check your credit at the beginning of the approval process, and they also pull your credit again right before closing. If the second credit check comes back the same as the first, the closing should stay on schedule. However, if the second credit check comes back lower than the first, or raises some …
What Happens if My Credit Changes Before Closing? Read More »
Having a low credit score can feel like a major burden. But a “bad” credit score is not a life sentence. Here are some steps you can take to improve your credit. Key takeaways Check your credit history for errors. Pay your bills on time and keep credit card spending low. Keep your credit utilization …
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